The Australian government plans to raise the $70,000 Temporary Skilled Migration Income Threshold (TSMIT) to $73,150 effective July 1, 2024.

Applications submitted after July 1, 2024, will therefore be evaluated using the annual market salary rate (AMSR) or the new TSMIT of $73,150, whichever is higher.

This statement implies that the higher value between the TSMIT and the AMSR should be taken into account when determining the minimum income of foreign workers.

The authorities use the annual market salary rate (AMSR) for a particular designation in order to determine the minimum salary, and vice versa, if the AMSR is higher than the TSMIT (Temporary Skilled Migration Income Threshold).

What does the Temporary Skilled Migration Income Threshold (TSMIT) mean that it has increased?
The income threshold for Temporary Skilled Migration (TSMIT) will rise from $70,000 to $73,150 as of July 1, 2024. This change is in line with the government’s pledge from the Jobs and Skills Summit in September 2022.