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Increase in the Temporary Skilled Migration Income Threshold (TSMIT) & other 1 July reminders

By 29 May 2024No Comments

From 1 July 2024, the Temporary Skilled Migration Income Threshold (TSMIT) will increase from $70,000 to $73,150. New nomination applications from this date will need to meet the new TSMIT of $73,150 or the annual market salary rate, whichever is higher.

This change will not affect existing visa holders and nominations lodged before 1 July 2024. However existing TSS visa holders will need to be reviewed and earnings increased to meet the market rate.

Labour Market Testing
Labour Market Testing for nominations to be submitted after 1 July will need to be for at least this new TSMIT amount.

Increase of visa application lodgement fees
A reminder that Immigration fees are likely to increase on 1 July 2024 as they generally do each year. Fees generally increase by CPI but we will not know the exact amount until closer to 1 July.
Upcoming lodgements for permanent residence and temporary visas should be made pre-1 July to reduce cost increases.

Increase of FWHIT
The Fair Work High Income Threshold (FWHIT) is currently $167,500 but this figure will also be adjusted on 1 July.

Jobs & Skills Australia Consultation on the Core Skills Occupations List
A reminder the Jobs and Skills Australia Core Skills Occupations List (CSOL) Consultation is still open. Submissions can be lodged until 5:00pm AEST on Friday, 31 May 2024.

For further information please contact your Ajuria advisor.

Author Ajuria

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