Australia’s diverse, inclusive, and advanced society offers incredible opportunities for international students and migrant workers. StudyBird Australia is here to provide free professional advice to help you navigate your journey towards achieving your Australian dreams.
In this blog post, we’ll break down the latest Temporary Skilled Migration Income Threshold (TSMIT) increase and what this means for your future job prospects in Australia.
Before we delve into the TSMIT increase, let’s first understand what this threshold entails. The Temporary Skilled Migration Income Threshold (TSMIT) is the minimum annual income an Australian visa holder must earn to qualify for their visa. This threshold ensures that migrant workers receive sufficient income to live and work in Australia without relying on welfare support.
TSMIT also protects the domestic labour market by preventing employers from undercutting Australian workers’ wages with those of overseas workers. The Department of Home Affairs regularly reviews the TSMIT, updating it to reflect the changes in the Australian labour market and the overall economic landscape.
Breaking Down the TSMIT Increase
The Department of Home Affairs recently announced an increase in the TSMIT from $53,900 to $70,000 per year. This considerable increase in the threshold is the result of the Annual Update of Skilled Migration Occupation Lists, which was initially deferred in 2020 due to the ongoing pandemic. It will now come into effect on 1st July 2023.
This increase in the TSMIT is relevant for various visa subclasses, including:
- Subclass 482 (Temporary Skill Shortage Visa)
- Subclass 186 (Employer Nomination Scheme Visa)
- Subclass 407 (Training Visa)
- Subclass 494 (Skilled Employer Sponsored Regional (Provisional) Visa)
Keep in mind that the TSMIT increase does not impact every international student or worker in Australia, only those employed under specific visa categories and meeting the relevant requirements.
How the TSMIT Increase Impacts You
The TSMIT threshold increase affects both international students seeking employment in Australia and migrant workers already employed under the relevant visa subclasses.
International students planning to work in Australia post-graduation may need to adjust their job expectations to ensure they meet the updated TSMIT. Similarly, migrant workers in Australia on temporary work visas might find limited opportunities if they don’t meet the new minimum income requirement.
However, it is essential to remember that many international students, such as those on Subclass 485 (Temporary Graduate) visas, are not subject to the TSMIT. In such cases, students can still explore job opportunities without the added pressure of meeting the increased TSMIT threshold.
Plan Your Future with StudyBird Australia
The latest TSMIT threshold increase highlights Australia’s ever-changing landscape of temporary skilled migration. Consult with the team at StudyBird Australia for professional advice on navigating these changes and achieving your Australian dreams. Our team is well-versed in the Australian labour market and can ensure you stay on top of visa requirements and regulations changes.
With StudyBird Australia by your side, you gain access to free, practical advice tailored to your unique goals and requirements. Together, we’ll help you live and study in Australia, creating a brighter future and fostering long-lasting connections. Get in touch with us today to discuss the latest TSMIT increase and what it means for you.