Distinguished Talent Visas (subclass 124/858) are for people who have, at the international level, demonstrated exceptional talent or an outstanding record of achievement in their field. Migration to Australia must present a clear benefit to Australia.
To quality for this visa you must demonstrate a record of exceptional and outstanding achievement, that is internationally recognised.
You must still be prominent in your profession, sport or area of the arts, academia or research at the time you apply. Your achievements must be superior to others in your field and you will need to demonstrate that this record of achievement will be sustained in the future.
You will need to demonstrate that you will be an asset to the Australia community (at a national, not local level) and would be able to obtain employment or establish yourself within your profession without difficulty.
Additionally, you will need to be nominated by and Australian or Australian organisation who has national standing in your area of achievement and can testify to your achievements.
This visa can be applied for both within Australia (858) and overseas (124).