Labor is expected to unveil its migration policy, with Home Affairs Minister Tony Burke set to outline the plan at the National Press Club on Thursday.
The policy was initially due to be unveiled by Burke at a National Press Club address in August. However, the speech was cancelled at the last minute after the government failed to secure cabinet agreement on the best approach.
Since then, Labor has said it was still finalising its plans.
The announcement is expected to detail how Labor will reduce net overseas migration from about 300,000 in 2025 to 245,000 in 2026/27 and 225,000 per year thereafter.
It comes as migration has emerged as a political battleground, with pressure mounting on Labor to release its strategy.
Prime Minister Anthony Albanese has repeatedly declined to provide further details, refusing to set a timeframe for migration announcements and saying they would be made at "appropriate times".
Labor has previously proposed reducing net overseas migration and set an annual target of 225,000 by 2027-28.
Burke has already flagged plans to make more changes to the visa system to curb net overseas migration, with the government officially confirming in August that it would slow the processing of working holiday visa applications.
The horticulture and tourism sectors have been calling for certainty, raising fears that a backlog of working holiday visas could mean there aren't enough workers for regional businesses in the summer months.
Labor is also expected to tighten rules for international students and their families and further restrict some visitor visas.
Potential changes could prevent international students from switching courses to extend their stay, increase scrutiny of onshore visa applications, limit the number of family members attached to student visas, and restrict transfers from higher education into vocational education and training programs.
Some tourist visas are also expected to be reduced from 12 months to six months.
The Albanese government has already confirmed that Australia's annual humanitarian intake of 20,000 places will not be reduced.
Burke has previously argued migration plans should be considered alongside housing supply, saying in June: "If you go at migration the wrong way, then you can actually make the housing situation worse."
Negotiations between the government and the Coalition over migration settings have stalled over the last week, with the Opposition pushing for deeper cuts to net overseas migration and stronger powers around deportation.
But both parties have criticised One Nation's plan revealed on Monday saying it would "shock" the economy and damage the construction, health and aged care sectors.
One Nation proposed cutting temporary migration by more than 750,000 places over three years, arguing Australia's migration system requires a "reset".
Under the policy, international students, recent graduates and their family members would be hit hardest, with migration places in those categories reduced by almost 470,000 over three years.
Burke has told SBS News he tried to find a path for bipartisan agreement with the Opposition.
"I had hoped that the Opposition would work constructively to make sure the immigration minister of the day had additional powers to be able to regulate net overseas migration," he said on Wednesday.
"At the moment, they haven't agreed to measures which they claim to support.
"I would much rather have more targeted levers available."
Independent ACT senator David Pocock took aim at Labor on Wednesday morning, saying current conversations about migration were "unproductive" and had to factor in what the country needed over the next 10 years.
"The big thing I would love to see is a plan," he told ABC's Radio National.
"There's this constant talk about numbers, about classes of visas, rather than actually having the conversation as a country — what is our 10-year plan for migration?"
It was those "hard conversations" that were paramount to Australia's migration debate, he argued.
"To me, that’s how you solve this issue... Rather than having this ridiculous fight over a number that raises all sorts of concerns for aged care, for healthcare, for farmers who are relying on backpackers."
The Coalition is yet to release its migration policy, but has said that its plan will tie migration figures to the amount of new homes built, which is currently tracking around 173,000 per year.
Opposition defence spokesperson James Paterson said he was looking forward to seeing the detail of Labor's plan but was "deeply sceptical about Labor's ability to deliver, because for four years they've failed to deliver".
"As for our own policy, we are close to releasing it, but we're actually going to do the work to get it right because we are not the government," he told reporters in Canberra.
"We are seeking to be the government after the next election and we're not going to put out a half-baked policy like One Nation has that hasn't even been costed, the budgetary impacts of which they have no idea."
— With additional reporting by Anna Henderson, Jack Revell, and the Australian Associated Press.