Following on from previous Dealer Bulletins regarding the Temporary Skilled Migration Income Threshold (TSMIT) increase, the AADA received a number of queries regarding the calculation of the TSMIT and if it includes overtime hours.
The AADA sought advice from the Australian Chamber of Commerce and Industry, who have been in contact with the Department of Home Affairs, and advised that overtime hours may count for guaranteed monetary earnings where it is guaranteed overtime that is also able to be accessed by an equivalent Australian worker.
Please see the linked fact sheet below which contains further information on:
- The raising of the TSMIT to $70,000 from 1 July 2023;
- Why the TSMIT has been lifted;
- Labour Agreements;
- Annual Market Salary Rate;
- Salary assessments for those in Australia on a pathway to permanent residence;
- Labour Market Testing; and
- Skilling Australians Fund.