Australian Immigration Daily News

These amendments are inserted by Schedule 1 and Division 3 of Schedule 5 to the Amendment Regulations.

The Working Holiday Maker (WHM) program consists of two visa Subclasses, the Working Holiday (Subclass 417) visa and the Work and Holiday (Subclass 462) visa (WHM visas). The key differences between the two visas are that Subclass 462 (Work and Holiday) visa arrangements generally have caps on the number of visas granted annually (except for the United States of America) and may include additional eligibility requirements such as a minimum education level, English language proficiency or letters of support from a partner country Government. Subclass 417 (Working Holiday) visa arrangements are uncapped with no limit on the annual number of visa grants.

 Source: HA-LA-Measures-2-Reg-2020.pdf and  HA-LA-Measures-2-Reg-2020-Explanatory-Memorandum.pdf