Increase in the Temporary Skilled Migration Income Threshold (TSMIT)

Starting July 1, 2024, the Australian Government will increase the Temporary Skilled Migration Income Threshold (TSMIT) from $70,000 to $73,150.

“Therefore, applications lodged as of July 1, 2024, will be assessed according to the new TSMIT of $73,150 or the annual market salary rate (AMSR), whichever is higher.”

This statement suggests that the minimum income of overseas workers should be determined by considering the higher value between the TSMIT and the AMSR.

For instance, if the annual market salary rate (AMSR) for a certain designation is higher than the Temporary Skilled Migration Income Threshold (TSMIT), then the authorities use AMSR to determine the minimum salary and vice versa.

What is the Increase in the Temporary Skilled Migration Income Threshold (TSMIT)?

From 1 July, 2024 the Income Threshold for Temporary Skilled Migration  (TSMIT) will increase the  from $70,000 to $73,150. This modification corresponds with the Government’s commitment made in September 2022 during the Jobs and Skills Summit.

What visa types will be affected by the Increase in the Temporary Skilled Migrant Income Threshold (TSMIT)?

An increase in the TSMIT will impact the following visa categories:

• Temporary Skill Shortage (subclass 482) Visa.
• Employer-Sponsored Regional (subclass 494) visa.
• Employer Nomination Scheme (subclass 186) Visa only via the Direct Entry stream.

Will the new TSMIT apply to existing visa holders and nominations lodged before July 1, 2024?

No, the increase in the Temporary Skilled Migration Income Threshold (TSMIT) to $73,150 will not affect existing visa holders, nominations, or applications lodged before July 1, 2024.

Stay Updated and Get Professional Assistance!

Further details on the indexation mechanism and salary requirements for the future, including the new Skills in Demand Visa, will be released once they are finalized in 2024. You can check the updates regarding these changes on the Department of Home Affairs official website. Regularly check the website for additional details. 

However, if you are still confused or worried about the continuously changing Australian immigration landscape, it is recommended that you seek professional advice. 

Related News

• Temporary Skills Shortage Visa (Subclass 482): A New Dawn for Skilled Workers
• New National Innovation Visa Australia for Skilled Migrants

Sources

• Updated – Increase in the Temporary Skilled Migration Income Threshold (TSMIT) to $73,150