Demand in Australia for Accountants in 2024

Australia needs Accountants!

The country is facing drastic labour market shortages of accounting, audit, and finance professionals, and now requires an additional 30,000 professionals over the next three years. Accountants have constantly played a pivotal role in Australia’s booming economy - and the demand in Australia for Accountants in 2024 has never been higher.

According to a report by the Australian Government’s Department of Jobs and Small Business, there will be a rise in overall employment for Accountants between 2022 and 2030. As a result, the processing of an Australia PR Visa from India, China, UK and other eligible countries - for Accountants is given the highest priority.

Are Accountants in Demand in Australia?

Historically speaking, Australia has had a high demand for Accountants, and the same trend is expected to continue in the future as well. With the evolving Australian labour market trends, the importance of skilled accountants in various industries continues to be on the rise.

Accountants are crucial to Australia’s stable growth. The job growth for Accountants is projected to increase by 9.2% by 2026. Currently, over 200,000 Accountants are working in Australia’s financial terrain, contributing their expertise to diverse sectors are industries countrywide.

Some of the main industries where Accountants are employed in Australia include Professional, Scientific and Technical Services, Financial and Insurance Services, and Manufacturing.

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Highest Paying Cities in Australia for Accountants

  • Canberra ACT - $83,057 per year
  • Perth WA - $79,288 per year
  • Sydney NSW - $77,957 per year
  • Brisbane QLD - $77,440 per year
  • Melbourne VIC - $76,685 per year
  • Fortitude Valley QLD - $76,454 per year
  • North Sydney NSW - $75,814 per year
  • Dubbo NSW - $75,773 per year
  • Wetherill Park NSW - $74,965 per year

Average Salary of Accountants in Australia

The average salary of Accountants in Australia is $76,717 per year or $40.88 per hour. Entry-level positions start at $70,000 per year, while most experienced workers make up to $90,000 per year. The average salary is based on experience and area of specialisation.

Best Companies for Accountants in Australia

There are several small and big organizations in Australia - that offer great prospects for Accountants. The top 10 Accounting companies in Australia include:

  • PwC Australia
  • Ernst & Young Australia
  • McGrathNicol
  • Accounts NextGen
  • Hall Chadwick
  • Alexander Spencer
  • Pitcher Partners
  • Findex
  • DFK Australia New Zealand
  • Avoda Business Advisory

Accountants Job Responsibilities in Australia

Working as an Accountant in Australia, you are responsible for:

  • Assisting in formulating budgetary and accounting policies.
  • Preparing financial statements for boards of directors, management, shareholders, and governing and statutory bodies.
  • Conducting financial investigations, preparing reports, undertaking audits and advising on matters such as the purchase and sale of businesses, mergers, capital financing, suspected fraud, insolvency and taxation.
  • Examining operating costs and income and expenditure.
  • Providing assurance about the accuracy of information contained in financial reports and compliance with statutory requirements.
  • Providing financial and taxation advice on business structures, plans and operations.
  • Preparing tax returns.
  • Managing funds.
  • Introducing and maintaining accounting systems, and advising on the selection and application of computer-based accounting systems.
  • Maintaining internal control systems.
  • Appraising cash flow and financial risk of capital investment projects.

How to Immigrate to Australia as an Accountant?

The Department of Home Affairs (DHA) Australia, selects potential candidates to immigrate to Australia based on the details provided in their Expression of Interest (EOI) profile. Before starting the PR application process, candidates are first required to have a Skills Assessment done by a regulatory body in Australia. Next, they need to gather the supporting documents.

Based on the submitted documents and the information on the EOI profile, the DHA issues invitations to candidates through bi-weekly invitation rounds. With an invitation letter, candidates can then submit a complete application to apply for Australia PR Visa.

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Australian Visa Options for Accountants

As an Accountant, you may apply to work and/or obtain PR in Australia through one of the following visas:

  • Subclass 189 - Skilled Independent Visa
  • Subclass 190 - Skilled Nominated Visa
  • Subclass 491 - Skilled Work Regional (Provisional) Visa
  • Subclass 485 - Graduate Temporary Visa
  • Subclass 491 - Family Sponsored Visa
  • Subclass 407 - Training Visa

Although there are other options available as well for Accountants applying for an Australia PR Visa from India, China, UK and other eligible countries, the best option is to apply under the Subclass 189 - Skilled Independent Visa. The Subclass 189 - Skilled Independent Visa allows potential candidates with the skills needed, to live and work permanently anywhere in Australia.

Eligibility to Immigrate to Australia as an Accountant

To be eligible to immigrate to Australia as an Accountant under Subclass 189 - Skilled Independent Visa, you would need to meet the following eligibility criteria:

  • Occupation & Skills: Your occupation (Accounting or related job profiles) must be on Australia’s Skilled Occupation List (SOL) aka Australia Occupation In-demand List. The ANZSCO code for Accountants is 221111. Since you’re a skilled worker, you would also be required to have a Skill Assessment done through a regulatory body in Australia. This will prove that you have the skills, qualifications, and experience needed to work as an Accountant in Australia.
  • Points Test & Invitation: To receive an invitation to apply for Australia PR, you must first create and submit an Expression of Interest (EOI). As Subclass 189 - Skilled Independent Visa has a point-based selection process, you would need to have a minimum score of at least 65 points to be eligible. However, invitations are generally issued to candidates with higher scores than 65 points.
  • Language Proficiency: You will also be asked to submit proof of English language proficiency, which will be measured by your scores achieved on eligible English proficiency tests such as the OET, PTE, TOEFL or IELTS test. The higher your score is, the more points you will be awarded in the 65-point calculator for Australia PR.
  • Age: At the time you submit your PR application, you must be under 45 years old - to be eligible to receive an invitation to apply for PR under Subclass 189 - Skilled Independent Visa.
  • Health & Character: Last but not least, you will be asked to submit a medical clearance and police background check reports stating that you are in good condition to travel to Australia and that you hold no criminal history.

Process for Australia PR Visa as an Accountant

The process to apply for an Australia PR Visa as an Accountant can be carried out in 5 easy steps.

STEP 1: Before you apply: First thing first, you must submit an Expression of Interest (EOI) through Australia’s SkillSelect. This will notify the Department of Home Affairs (DHA), that you are interested in applying for this visa. The SkillSelect is designed to calculate your points based on the details provided in your EOI. To be eligible for an invitation letter, you must achieve at least 65 points.

STEP 2: Gather your documents: If you’re eligible, the next step is to collect the supporting documents which will help prove the claims you have made in your EOI. You are generally required to gather the following documents:

  • Copy of Passport.
  • CV/Resume.
  • Education Credentials.
  • Employment References.
  • Payment Evidence.

STEP 3: Apply for the visa: Once you successfully go through STEP 1 & 2, you can then continue to apply for Australia PR Visa online. This step must be done within 60 days of receiving the invitation letter from DHA.

STEP 4: After you apply: After you submit your complete PR application, the DHA will notify you that they have received your application and if eligible, send you your visa grant.

STEP 5: Visa outcome: If the DHA grants your visa, they will give you your visa grant number, the date your visa starts and other conditions tied to your visa. On the other hand, if your application is refused, the department will notify you with the reason(s) for refusal - and whether or not you can reapply. In case of refusals/rejections, your application processing charges are not refunded.

Cost to Immigrate to Australia as an Accountant

The following are the costs to immigrate to Australia as an Accountant under Subclass 189 - Skilled Independent Visa:

  • Primary Adult Applicant - AUD 4,640
  • Additional Adult Applicant (more than 18 years) - AUD 2,320
  • Dependent Child (fewer than 18 years) - AUD 1,160

Processing time for Australia PR Visa as Accountants

The Australian PR process for Accountants usually takes 9-12 months. However, the processing time may vary from case to case. The processing time for Australia PR is also based on several other factors including points score, ANZSCO code, visa subclass, and other individual circumstances.

 

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Frequently Asked Question

  • Are Accountants in demand in Australia?

    Yes. Australia has had a high demand for Accountants, and the same trend is expected to continue in the future as well. The job growth for Accountants is projected to increase by 9.2% by 2026. Currently, over 200,000 Accountants are working in Australia’s financial terrain, contributing their expertise to diverse sectors are industries countrywide.

  • The ANZSCO code for Accountants is 221111.

  • You need to score a minimum of 65 points to be invited to apply, however, invitations are generally issued to candidates with more than 65 points.

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