Finegan, 34, only joined the Falcons last year after a successful spell with Australia and the ACT Brumbies.
BBC: SPORT | Rugby Union | English | Newcastle axe Walder and Finegan
Carraro began his Super 14 career with the ACT Brumbies before joining the Waratahs, who reached the 2008 final.
Also joining up with the squad is ACT Brumbies back Mark Bartholomeusz, who is a replacement for winger Ben Tune.
"I am looking forward to starting a new chapter in my career, " said Salvi, who joins from Super 14 side ACT Brumbies.
In Friday's other game, skipper Stirling Mortlock scored two tries and created another as the ACT Brumbies thrashed the Cats 68-28 to go top.
The Brumbies had been reduced to 14 men one minute earlier when prop Ben Darwin was shown a red card for his second yellow card offence.
Trailing 10-9 at half-time, the Brumbies claimed a decisive lead when Joe Roff, who played in France last year, powered over eight minutes into the second half.
Gatland cited the example of Australia, who started with the New South Wales Waratahs and Queensland Reds before successfully developing the ACT Brumbies and - more recently - Western Force.
Salvi, who captained Australia's Under-21 side in 2006 and has represented the Brumbies in Super rugby since 2005, has an option to extend his initial deal for a further year.
Smith, who also played rugby league for Balmain Tigers, started his coaching career at Eastern Suburbs and had spells with the Australia sevens team, the ACT Brumbies and Bath before joining London Irish.
Some of the previously untried players in line for senior honors include ACT Brumbies' wingers Mark Gerrard and Clyde Rathbone, New South Wales fullback Cameron Shepherd, ACT prop Nic Henderson and Queensland utility back Drew Mitchell.
First winger Bryan Habana was caught offside to allow Giteau to land a second penalty from near the right touchline to give the Wallabies a 6-3 lead, before the Brumbies player took his tally to 12 with two more efforts.
Saturday's late game proved to be a tale of two kickers as Brumbies star Stirling Mortlock kicked all six of his attempts - five penalties and a conversion - while Reds fly-half Julian Huxley missed two penalty kicks at the death.
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