TSMIT Adjustment: Australian Government’s Latest Move

The Australian Government has recently announced its plans for an increase in the TSMIT starting from 1 July. This change aims to regulate the skilled migration program and ensure that sponsored workers are compensated fairly. The new TSMIT will rise to AUD 70,000 from the previous AUD 53,900, bringing several implications for employers and prospective migrants.

Implications for Nomination Applications: Effective 1 July, all nomination applications submitted after this date must adhere to the new TSMIT requirement of AUD 70,000 or the annual market salary rate. However, this change will not affect individuals who have already submitted their applications or hold existing visas before 1 July 2023.

Critical Functions of TSMIT: The TSMIT is a benchmark to identify which jobs qualify for sponsorship in Australia. It requires employers to demonstrate to immigration authorities that the market salary for the intended role exceeds the TSMIT. As a result, sponsored workers receive fair wages and discourage the exploitation of foreign workers.

Future Updates and Information: Further details regarding the TSMIT increase will be released shortly. These updates will illuminate any additional requirements or changes accompanying the adjustment. Employers and prospective migrants are encouraged to stay informed to ensure compliance with the revised regulations.

The future increase in the Temporary Skilled Migration Income Threshold (TSMIT) by the Australian Government represents a significant development in the skilled migration landscape. By raising the TSMIT to AUD 70,000, the Government aims to protect sponsored workers and ensure they receive appropriate remuneration. Employers and prospective migrants must prepare for these changes and stay tuned for further updates to maintain compliance with the new regulations.