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We previously wrote about how the Temporary Skilled Migration Income Threshold (TSMIT) will increase to $70,000 on 1 July 2023.

Since then, our industry representative body, the Migration Institute of Australia (MIA), sought and received clarification from the government on how the increase will be enforced.

Previously, it was unclear how nomination applications lodged but not decided on 1 July 2023 will be treated. 

Further information provided by the Department of Home Affairs has confirmed that:

• TSMIT will be treated as a time of application criteria during the transition to the increased rate.
  
  
• Nominations lodged before 1 July 2023 will NOT be required to meet the new $70,000 TSMIT even if the application is decided after 1 July 2023, ie. they will only need to meet the old TSMIT of $53,900.
  
  
• Similarly, visa applications lodged in association with approved $53,900 TSMIT nominations will not be affected by the TSMIT increase, even if the visa application is lodged after1 July 2023.

We believe this to be a positive and fair outcome for applicants.

Furthermore, as we alerted our clients in the last Newsflash, time is running out (or has already run out) to meet the Labour Market Testing requirements before the 30 June 2023 deadline (the last day nominations can be lodged for employers attempting to meet the current $53,900 TSMIT). If you are business concerned about how the increased TSMIT will impact employee sponsorship, contact us and we can help assess your individual situation.