Effective July 1, 2024, the Temporary Skilled Migration Income Threshold (TSMIT) will be raised from $70,000 to $73,150 for employers to sponsor foreign workers into Australia. This means that new nomination applications submitted on or after this date will need to meet the new, higher TSMIT of $73,150 or the annual market salary rate, whichever is higher.
Existing visa holders and nominations lodged before July 1, 2024 will not be affected by this change.
This adjustment to the TSMIT aligns with the commitment made by the government at the Jobs and Skills Summit in September 2022.