TSMIT Updated: Increase in the Temporary Skilled Migration Income Threshold to $73,150
Raising the Temporary Skilled Migration Income Threshold
Starting July 1, 2024, the Temporary Skilled Migration Income Threshold (TSMIT) will increase from $70,000 to $73,150. All new nomination applications for 482, 186, and 494 visas submitted after this date must meet the new TSMIT of $73,150 or the annual market salary rate (AMSR), whichever is higher.
For several years, the TSMIT was set at $53,900. Last year, on July 1, it was raised to $70,000. Many employers initially expressed concerns that this increase would make it difficult for smaller employers to sponsor employees. However, over the past year, the number of employer-sponsored visa applications has actually risen. Feedback indicates that employers are able to meet the higher salary requirements. As a result, the TSMIT is being raised again, and it seems likely that the Department of Home Affairs will continue to adjust this minimum salary threshold annually.
This change will not affect existing visa holders or nominations lodged before July 1, 2024.
These adjustments are in line with the Government’s commitments made at the Jobs and Skills Summit in September 2022.
Updated – Increase in the Temporary Skilled Migration Income Threshold (TSMIT) to $73,150
What is AMSR?
The Annual Market Salary Rate (AMSR) is determined by examining:
- What an equivalent Australian worker is paid
- Enterprise agreements or industrial awards
- Job outlook information
- Advertisements for similar positions over the last 6 months in the same locationRemuneration surveys or advice from unions or employer associations.
For more details, please visit the Department of Home Affairs website.
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