TSMIT Changes | Interstaff
New Nomination applications for employer-sponsored workers will need to meet a minimum salary requirement of $73,150 from 1 July 2024 (up from $70,000) following the Australian Government's recent announcement to increase the Temporary Skilled Migration Income Threshold (TSMIT).
Here's what employers and skilled migrant workers need to know about the TSMIT changes.
- How does the TSMIT increase impact new nomination applications?
- What if the AMSR for the occupation is less than the new TSMIT?
- Does the TSMIT increase affect current sponsored visa holders?
- Why is the TSMIT increasing?
How Does the TSMIT Increase Impact New Nomination Applications?
Nomination applications that are lodged from 1 July 2024 to engage a worker on a 482 TSS Visa, 494 Regional Visa or 186/187 Permanent Residence Visa will need to meet either the new TSMIT minimum salary of $73,150 or the Annual Market Salary Rate (AMSR) for the person's occupation – whichever is higher.
The AMSR ensures a migrant worker's salary aligns with what an Australian worker would earn in the same role and location of work.
What if the AMSR for the Occupation is Less Than the New TSMIT?
The Annual Market Salary Rate (AMSR) for a worker's occupation must be higher than the new TSMIT of $73,150 in order to lodge a Nomination application. If the employee's AMSR is less than the new TSMIT, they cannot apply to be sponsored for work in that position.
Does the TSMIT Increase affect Current Sponsored Visa Holders?
No – the change to the TSMIT will not affect existing visa holders and nominations lodged before 1 July 2024.
Why is the TSMIT Increasing? | TSMIT Changes
As part of its commitment at the Jobs and Skills Summit in 2022 and in its Migration Strategy in 2023, the Government expects to increase the TSMIT annually so that it can be indexed accordingly.
As you may know, the TSMIT was frozen at $53,900 from mid-2013 until July 2023 when it increased to $70,000 to reflect the figure it would have been if it were indexed over the previous 10 years.
Strategic Immigration for Business | TSMIT Changes
To avoid costly nomination refusals, employers should ensure they comply with immigration requirements such as the Temporary Skilled Migration Income Threshold (TSMIT) and Annual Market Salary Rate (AMSR) for sponsored employees.
Should you have any queries regarding the TSMIT changes or about AMSR's, you may wish to get in touch with Interstaff's Migration Agents and Immigration Lawyers for professional advice.
You can also connect with us on LinkedIn to stay updated on Australian immigration news and developments.
Source:
Interstaff's Registered Migration Agents
The Department of Home Affairs – Migration Strategy
The Migration Institute of Australia
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