Reminder: deadline for LMT under current TSMIT 

We take this opportunity to remind business sponsors of the need to apply now to commence the required four weeks of advertising for Labour Market Testing (LMT). If you aim to meet the 30 June 2024 deadline for applications under the current Temporary Skilled Migration Income Threshold (TSMIT) of $70,000, it is crucial to start the LMT process immediately. As of 1 July 2024, the TSMIT will increase to $73,150

Why is this important? 

The TSMIT is a crucial factor in the application process for temporary skilled visas. It sets the minimum salary that must be offered to a foreign worker to ensure they are not undercutting the local labour market. With the increase in TSMIT, businesses will need to offer higher salaries from 1 July 2024, which may affect their recruitment budgets and planning. 

Key points to consider 

• Four weeks of advertising: to meet the Labour Market Testing requirements, businesses must advertise the job position for a minimum of four weeks (28 days). This period is essential to demonstrate that there are no suitable Australian workers available to fill the position. 

• Application deadline: applications submitted on or before 30 June 2024 will still be assessed under the current TSMIT of $70,000. Submissions after this date will need to meet the new threshold of $73,150. 

• Strategic planning: if your business plans to sponsor overseas workers, under the current TSMIT, it is crucial to start the LMT process immediately. Delaying this could result in missing the 30 June deadline, potentially leading to higher wage costs under the new TSMIT. 

• Start advertising now: begin the four-week advertising process immediately to ensure you meet the Labour Market Testing requirements. 

For more details, visit our 2024 TSMIT article or contact our migration strategist at aisupport@absoluteimmigration.com. Our team of experts is here to help you navigate the complexities of the Labour Market Testing and TSMIT changes.