Important Update for Employer-Sponsored Visas: Increased Temporary Skilled Migration Income Threshold (TSMIT)

Attention Employers Seeking Skilled Migrants in Australia!

There’s a critical update for those sponsoring temporary skilled worker visas in Australia. The Department of Home Affairs has increased the Temporary Skilled Migration Income Threshold (TSMIT), effective July 1, 2024.

What is the TSMIT?

The TSMIT is the minimum annual salary level required for a nominated position to be eligible for specific temporary skilled migration visas in Australia. This ensures sponsored workers are offered fair compensation that aligns with market rates.

What’s Changed?

Previously, the TSMIT stood at $70,000 (excluding superannuation). As of July 1, 2024, it has increased to $73,150 (excluding superannuation).

What Does This Mean for You?

If you’re planning to sponsor a skilled overseas worker for a temporary visa after July 1, 2024, the offered salary for the nominated position needs to meet the new, higher TSMIT. There’s an additional factor to consider:

• Market Salary Rate: If the market salary rate for the specific occupation is higher than the new TSMIT ($73,150), then the offered salary must meet whichever is higher.

Who is Impacted?

This change applies only to new applications lodged on or after July 1, 2024.

• Existing visa holders and nominations submitted before July 1, 2024, are not affected by the increased TSMIT.

Why the Increase?

The Australian government aims to ensure sponsored temporary skilled workers receive fair compensation that reflects their skills and aligns with current market trends.

Taking Action

• Review your sponsorship plans: If you intend to sponsor a skilled migrant after July 1, 2024, ensure the offered salary meets the new TSMIT or the relevant market salary rate.
• Research market rates: Familiarize yourself with the current market salary range for the nominated occupation to determine the appropriate compensation level.
• Seek guidance: If you have any questions or require assistance with navigating the TSMIT requirements, consult a registered migration agent.

By staying informed about these changes, you can ensure a smoother process for sponsoring skilled migrants in Australia.

Disclaimer:

The information contained on this blog post is for informational purposes only and is not intended to be a substitute for professional advice. And the information provided on this blog should not be construed as professional advice.

While I strive to provide accurate and up-to-date information, I cannot guarantee that all information is complete or error-free. You should always consult with a qualified professional before making any decisions based on the information contained on this blog post.