TSMIT Increase to $73,150 as of 1 July 2024

As part of the Government’s ongoing commitment to improving job and skill opportunities in Australia, a significant change is coming to the Temporary Skilled Migration Income Threshold (TSMIT). The Department of Home Affairs has confirmed that the Temporary Skilled Migration Income Threshold (TSMIT) will increase from $70,000 to $73,150, effective from 1 July 2024.

 

Key Changes

  1. New TSMIT: The TSMIT will increase from $70,000 to $73,150, effective from 1 July 2024.
  2. Application Impact: Any new nomination applications lodged from 1 July 2024 onwards will need to meet this new TSMIT or the annual market salary rate, whichever is higher.
  3. Existing Visa Holders: Current visa holders and nominations lodged before 1 July 2024 will not be affected by this change.

Additional Information

The Department has indicated that further information about future income thresholds and the indexation methodology, including details on the new Skills in Demand visa, will be made available later in 2024.

 

Stay tuned for updates and ensure you are prepared for these important changes to the TSMIT coming in July 2024.

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