From July 1, 2023, the Temporary Skilled Migration Income Threshold (TSMIT) in Australia will be increased from $53,900 to $70,000.
After this date, all new applicants for Temporary Skilled Migration Visas must meet the $70,000 TSMIT or the annual market salary rate, whichever is higher.
The majority of full time jobs in the country pay more than the current TSMIT and the government says the new threshold value is an overdue correction.
In a move welcomed by migrants looking to stay in Australia long-term, the government also announced that by the end of 2023, Temporary Skill Shortage (TSS) Short-term stream visa holders will be able to access a pathway to permanent residency within the existing capped permanent program.
These adjustments are amongst the first actions taken by the government after an independent Review of the Migration System led by Dr Martin Parkinson found that, “key areas of the system are broken.”
Employer-sponsored visa holders will be eligible for Employer Nominated Scheme Temporary Residence Transition after two years of sponsorship on a TSS by their employer.
All Temporary Skill Shortage subclass 482 visa holders will be eligible for ENS visas sponsored by their employers and usually, have worked for their employers for at least 3 years full-time while holding a subclass 457 or Temporary Skill Shortage visa.
It is hoped the changes to temporary skills visas will provide skilled migrants with more certainty and Australian employers with a larger talent pool after it was drained by border restrictions.
The Albanese government has previously underlined its intentions to increase skilled migration as part of a response to the skills shortages faced by Australia in the wake of Covid-19 border restrictions.
Many industries are still crying out for workers, despite migration increases and this measure will allow more skilled migrants to live and work permanently in Australia.