At AustraliaMigrate, we strive to keep our clients informed about important changes in migration policies. We have an important update regarding the Temporary Skilled Migration Income Threshold (TSMIT).
Following the Government’s commitment at the Jobs and Skills Summit in 2022 and the announcement in the Migration Strategy last year, the Department has announced that the TSMIT will increase from $70,000 to $73,150 effective from 1 July 2024.
What Does This Mean for You?
- New Nominations: Any new nomination applications lodged from 1 July 2024 will need to meet the new TSMIT or the annual market salary rate, whichever is higher. If the market salary is less than the TSMIT, an application cannot be lodged for that position.
- Existing Visa Holders: This change will not affect existing visa holders and nominations lodged prior to 1 July 2024.
Looking Ahead
The Department has confirmed that more information will be made available regarding future income thresholds and the indexation methodology, including for the new Skills in Demand visa, later in 2024. We will continue to provide updates as more details are released.
For more information or assistance with your visa application, please contact us at AustraliaMigrate.
