The Global Talent Scheme is now up and running as one of the TSS “streams”. It was introduced on 1 July 2018 for an initial 12 month period.
We have now received further clarification of the requirement that in established businesses, the position must have minimum annual earnings equivalent to the Fair Work High Income Threshold. The Department of Home Affairs has confirmed that incentive-based payments, bonuses and shares will not count towards the earnings threshold of $145,400.
As this is consistent with other streams of the TSS program, we do not anticipate that this will cause too much confusion or concern amongst stakeholders. Nevertheless, we would welcome any feedback (and concrete examples of alternative remuneration), as flexibility on remuneration may be considered further in the pilot.
More broadly, the Government has indicated that it welcomes any suggestion as to how the GTS can be improved during the GTS pilot period.
Concurrently with the GTS, the Government is also working on a Supporting Innovation in South Australia Scheme, which seeks to attract start-ups and entrepreneurs. Subject to successful implementation and review in 2018, this scheme will be rolled out nationally in 2019.
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