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Australia | Temporary Skilled Migration Income Threshold Raised

he Australian government announced that the Temporary Skilled Migration Income Threshold will increase from 70,000 Australian dollars to AU$73,150 (about US$48,600), effective July 1.

Key Points:

New nomination applications will need to meet the new TSMIT or the annual market salary rate, whichever is higher.

Existing visa holders and nominations filed before July 1 will not be impacted by the increase.

The legislation is pending release and more information will be provided once it becomes available.

Additional Information: Both the annual market salary rate for the nominated occupation and the guaranteed annual earnings must be at least as much as the TSMIT. This threshold does not include non-monetary benefits, and employers pay benefits in addition to the TSMIT.

Source: NATIONAL LAW REVIEW

#Australia #TSMIT

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Important change to the Temporary Skilled Migration Income Threshold (TSMIT)

🔹 Attention Employers and Skilled Workers! Important update on Temporary Skilled Migration Income Threshold (TSMIT) for Australian visas. 🔹 🌟 Effective from 1 July 2023, the TSMIT will increase to $70,000 per annum, based on a standard 38-hour workweek. 🌟 📌 This change will impact new nominations lodged with the Department of Home Affairs on or after 1 July 2023. Current employer-sponsored skilled workers are not affected. 📌 ⚠️ If you're an employer planning to apply before 1 July 2023, the income threshold you need to meet is $53,900. ⚠️ 💼 Remember, labor market testing is still required for most nominations, including advertising the position for at least four weeks within the four months preceding the nomination application. 💼 ⏰ Don't delay! Time is of the essence. If you need to nominate a skilled worker under this scheme, we recommend lodging your application as soon as possible. ⏰ 🤝 For expert advice and assistance with all immigration matters, contact the Immigration Law Team at Aylward Game Solicitors today at 1800 217 217 or visit: https://aylwardgame.com.au/the-temporary-skilled-migration-income-threshold/

#SkilledMigration #TSMIT #VisaUpdate #EmployerSponsorship #ImmigrationLaw #AylwardGameSolicitors