{"id":51639,"date":"2024-05-29T10:09:08","date_gmt":"2024-05-29T00:09:08","guid":{"rendered":"https:\/\/absoluteimmigration.com\/?p=51639"},"modified":"2024-05-29T12:53:04","modified_gmt":"2024-05-29T02:53:04","slug":"update-tsmit-rises-to-73150","status":"publish","type":"post","link":"https:\/\/absoluteimmigration.com\/news\/update-tsmit-rises-to-73150\/","title":{"rendered":"Important Update &#8211; Temporary Skilled Migration Income Threshold (TSMIT) Rises to $73,150"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"51639\" class=\"elementor elementor-51639\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-20767a4a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"20767a4a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-db2069a\" data-id=\"db2069a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75ea38c elementor-widget elementor-widget-heading\" data-id=\"75ea38c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/www.freepik.com\/premium-photo\/diversity-corporate-women-with-laptop-talking-planning-budget-fintech-system-update-modern-office-team-leader-group-online-reading-finance-accounting-process-computer_42732865.htm#fromView=search&#038;page=1&#038;position=29&#038;uuid=7c277b56-ea81-460c-8370-77e7cfcf57c6\" target=\"_blank\" rel=\"noopener\">Photo credit:@The Yuri Arcurs Collection<\/a><\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d0621dd elementor-widget elementor-widget-text-editor\" data-id=\"4d0621dd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h4><span style=\"color: #ed7d31;\"><strong>Overview of TSMIT changes<\/strong><\/span><\/h4><p>Effective from 1 July 2024, the Temporary Skilled Migration Income Threshold (TSMIT) will rise from $70,000 to $73,150. This change affects new nomination applications, ensuring that employers meet the new threshold or the<span style=\"color: #ed7d31;\"> <a style=\"color: #ed7d31;\" href=\"https:\/\/immi.homeaffairs.gov.au\/visas\/employing-and-sponsoring-someone\/sponsoring-workers\/nominating-a-position\/salary-requirements\" target=\"_blank\" rel=\"noopener\">annual market salary rate<\/a><\/span> (AMSR), whichever is higher.<\/p><p><strong>\u00a0<\/strong><\/p><h4><span style=\"color: #ed7d31;\"><strong>Salary requirements<\/strong><\/span><\/h4><p>Employers nominating workers for subclass 482, 494, 186, and 187 visas must comply with specific salary conditions:<\/p><ul><li>Pay overseas workers no less than an equivalent Australian worker.<\/li><li>Ensure the AMSR is correctly determined and meets or exceeds the TSMIT.<\/li><\/ul><p><strong>\u00a0<\/strong><\/p><h4><span style=\"color: #ed7d31;\"><strong>Implications for sponsoring companies<\/strong><\/span><\/h4><p>For Australian companies that rely on the Temporary Skill Shortage (TSS) visa (subclass 482) to fill labour shortages, the new TSMIT will have several implications:<\/p><p><strong>Undertake Labour Market Testing (LMT) promptly<\/strong><\/p><p>To sponsor an overseas employee, companies must first demonstrate genuine efforts to recruit local workers. If sponsors wish to sponsor workers under the current TSMIT ($70,000) before the changes take effect on 1 July, they must initiate the LMT process immediately, as visa applications must be lodged with the Department of Home Affairs the day after the <strong>28-day<\/strong> advertising period concludes. From 1 July, companies will need to update their LMT procedures accordingly. This includes advertising the position at the new salary level and ensuring compliance with the updated regulations.<\/p><p><strong>Increased salary offers<\/strong><\/p><p>Employers must ensure that new job offers for TSS visa candidates meet or exceed the new TSMIT. This may necessitate budget adjustments or re-evaluation of salary structures, particularly in industries that previously offered salaries close to the existing threshold or have salaries which are inclusive of superannuation.<\/p><p><strong><span class=\"TextRun SCXW63296376 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW63296376 BCX8\">Contract adjustments for current sponsored workers<\/span><\/span><\/strong><\/p><p><span class=\"TextRun SCXW63296376 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW63296376 BCX8\">Employers should review and potentially adjust the salaries of current employees on TSS visas (i.e. for employees&#8217; salaries that are inclusive of superannuation) to ensure ongoing compliance with the new immigration laws. While the changes primarily affect new applications, staying ahead of regulatory adjustments can prevent future complications.\u00a0\u00a0<\/span><\/span><span class=\"EOP SCXW63296376 BCX8\" data-ccp-props=\"{}\">\u00a0<\/span><\/p><h4>\u00a0<\/h4><h4><span style=\"color: #ed7d31;\"><strong>Implications for skilled migrants<\/strong><\/span><\/h4><p><strong>Existing Visa Holders<\/strong><\/p><p>This change will not affect existing visa holders or nominations lodged before 1 July 2024. Individuals who have already secured their visa or have nominations in place prior to this date will continue to be governed by the previous TSMIT.<\/p><p><strong>Future Visa Holders<\/strong><\/p><p>For skilled migrants aspiring to work in Australia, understanding the new threshold is essential. This knowledge is crucial for setting realistic salary expectations and meeting the eligibility criteria for skilled migration programs.<\/p><h4>\u00a0<\/h4><h4><span style=\"color: #ed7d31;\"><strong>Skilled migration and compliance<\/strong><\/span><\/h4><p>The upcoming increase in the Temporary Skilled Migration Income Threshold is a pivotal change for Australian employers who sponsor overseas workers. By preparing ahead of the <strong>July 1<\/strong> implementation, companies can ensure compliance with new regulations, maintain the ability to attract top international talent and uphold fair labour standards.<\/p><p style=\"text-align: left;\"><strong>For further guidance and detailed information on the upcoming changes, please get in touch with our expert team at <\/strong><span style=\"color: #ed7d31;\"><strong>aisupport@absoluteimmigration.com<\/strong><\/span><strong> to arrange an online consultation.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The TSMIT will increase from $70,000 to $73,150 from 1 July 2024, impacting new nomination applications and compliance requirements for employers.<\/p>\n","protected":false},"author":5,"featured_media":51640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[19],"tags":[335,412,33,131,413],"class_list":["post-51639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australia","tag-australian-immigration-2","tag-income-threshold","tag-skilled-migration","tag-tsmit","tag-visa-policy"],"acf":[],"_links":{"self":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/posts\/51639"}],"collection":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/comments?post=51639"}],"version-history":[{"count":0,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/posts\/51639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/media\/51640"}],"wp:attachment":[{"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/media?parent=51639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/categories?post=51639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/absoluteimmigration.com\/wp-json\/wp\/v2\/tags?post=51639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}