Adjustment to Australia’s Skilled Migration Income Threshold

The Australian Government has announced an update to the Temporary Skilled Migration Income Threshold (TSMIT), which will see an increase to $73,150, effective from July 1, 2024. This revision is the latest in a series of measures aimed at refining the skilled migration system to better align with the economic and labor market conditions of the country1.

The TSMIT is a critical benchmark within the skilled migration program, defining the minimum income that must be offered to skilled migrants. The increase from the previous threshold of $70,000 to $73,150 is a response to the evolving needs of the Australian workforce and the broader economy1.

This change is expected to ensure that the skilled migration program continues to attract high-caliber talent necessary for Australia’s growth and development. It also provides a clearer pathway to permanent residency for Temporary Skill Shortage (TSS) visa holders, reinforcing the government’s commitment to a fair and competitive migration system1.

Employers and migrants alike are encouraged to take note of the new threshold, which will apply to all new nomination applications for skilled migration from the specified date. The Department of Home Affairs has confirmed that nominations lodged before June 30, 2024, will need to meet the previous TSMIT of $70,000, while those lodged on or after July 1, 2024, will be subject to the new threshold1.

For more detailed information on this update, individuals and employers are advised to refer to the official announcement on the Department of Home Affairs website1.

References:

1. https://immi.homeaffairs.gov.au/news-media/archive/article?itemId=1205

2. Income threshold increased for skilled migrants working in Australia (9news.com.au)