The Australian Government has announced it will increase the Temporary Skilled Migration Income Threshold (TSMIT) from $53,900 to $70,000 from the 1st of July 2023 after over 10 years of not changing.
Since 2013, almost 90% of all full-time jobs in Australia are now paid more than the current TSMIT, undermining Australia’s skilled migration system.
The newly announced income threshold (lifted from $53,900 to $70,000) is approximately where the TSMIT should have been if it had been properly indexed over the previous 10 years.
This is the Government’s first action in response to the independent Review of the Migration System led by Dr Martin Parkinson, which found that Australia’s migration system is broken.
The Government is also announcing that by the end of 2023, Temporary Skill Shortage (TSS) short stream visa holders will have a pathway to permanent residency within our existing capped permanent program.
This should provide employers and migrants with more certainty and will help increase the skill level in our permanent skilled program.
More information can be found here.
