TSMIT $73,150 July 2024: Does Your Salary Make the Cut?

Look, if you are in the middle of an employer-sponsored visa application, this one is for you. The minimum salary threshold just went up.

From 1 July 2024, the Temporary Skilled Migration Income Threshold (TSMIT) is $73,150. That is a $3,150 increase from the old $70,000 figure. Not massive, but enough to catch people off guard.

What the TSMIT Increase Means for Nominations

Any nomination lodged from 1 July 2024 must meet the new threshold. The salary has to be $73,150 or the annual market rate for the role, whichever is higher.

Already lodged before 1 July? You are fine. The old threshold applies. Existing visa holders are not affected either.

But if you were planning to lodge this month and the salary is sitting at $70,000 or $71,000? That nomination will be refused.

Which Visas Are Affected

This applies to all the main employer-sponsored visa subclasses:

• Subclass 482 (Temporary Skill Shortage)

• Subclass 494 (Skilled Employer Sponsored Regional)

• Subclass 186 (Employer Nomination Scheme)

The government reviews TSMIT regularly. This increase keeps it roughly in line with average weekly earnings. The point is to make sure sponsored workers are paid a fair wage and Australian workers are not undercut.

What You Should Do Now

For employers: check any nominations you have not lodged yet. If the salary does not hit $73,150, you need to either increase it or hold off until you can.

For workers: confirm the offered salary with your employer before they submit the nomination. Do not assume it meets the threshold. Ask the question.

I have seen nominations refused over small shortfalls. A few hundred dollars can be the difference between approval and a wasted application fee.

Not sure where your nomination stands? Book a consultation and we will work out exactly what you need to do before you lodge.