The changes will come into effect on FEBRUARY 18, 2022
Applications outside Australia will get direct notified by the Department of Home Affairs

Temporary Graduate Visa Flexibility
The Government will make changes to allow entry of current and former Temporary Graduate (subclass 485) visa holders from 18 February 2022, to allow them to re-enter Australia and apply for a further stay.
Visas will be extended for graduates who were outside of Australia at any time between 1 February 2020 and 14 December 2021, while they held a valid Temporary Graduate visa.
The extension will take effect on 18 February 2022 and visa holders will be notified directly by the Department of Home Affairs of the extension of their visa and may arrive after this occurs, from 18 February onwards.
These changes support the return to Australia of temporary graduates as soon as possible, ahead of further planned changes on 1 July 2022 that will provide a further visa extension option to former graduates.
For more information please visit the Department of Home Affairs website.