The Temporary Skilled Migration Income Threshold (TSMIT) is now $70,000. From 1 July 2023, new nomination applications will be required to meet this threshold or the annual market salary rate, whichever is higher.
The TSMIT applies to a number of skilled visas, including the Temporary Skill shortage (subclass 482), Skilled Employer Sponsored Regional (Provisional) (subclass 494) and Employer Nomination Scheme (subclass 186).
As well as meeting the TSMIT positions must also be at the Annual Market Salary Rate (AMSR). This is the Australian industry standard pay a worker receives for their occupation. AMSR may differ for an occupation based on years of experience, location and an employees’ skills.
The only available concession to the TSMIT is through applying for a labour agreement which can see a 10% reduction of the TSMIT granted. Other industry specific labour agreements also have specific salary rates lower than the TSMIT.
Many smaller businesses employing overseas workers in hospitality and service industry positions are struggling to meet this new increased TSMIT level.
