According to the recent announcement, the Albanese Government will raise the Temporary Skilled Migration Income Threshold (TSMIT) from $53,900 to $70,000 on 1 July.
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Interestingly, 90% of full-time jobs in Australia have pay scales exceeding the existing TSMIT, undermining the country’s skilled migration system.
The updated income threshold of $70,000 reflects the value of the TSMIT if it was indexed correctly over the last 10 years.
Don’t forget this is the first action by the Government after the Independent Review of the Migration System concluded that Australia’s migration system was broken.
Moreover, Temporary Skill Shortage (TSS) short-stream visa holders will be able to go for permanent residency by the end of 2023 under the current cap of permanent migration, as announced by the government.
Of course, this will upgrade the skill level in the country’s permanent skilled migration program and help employers and migrants with better certainty.
We hope you found this information helpful. Follow our blogs for the latest updates and informative content on Australian immigration.
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