The contents of this article are correct as at 26 July 2010.
Effective 1 July 2010 there was an increase in the TSMIT for 457 visa nominations.
The new TSMIT is set at $47,480 (up from $45,220). This increase is based on the annual seasonally-adjusted wage change for all Australians which is currently five percent. The TSMIT is set at a level to ensure that all subclass 457 visa holders have sufficient income to independently provide for themselves in Australia.
In summary, unless certain exceptions apply, a nomination application lodged on or after 1 July 2010, will not be approved unless the TSMIT is at least $47,480.
By way of reminder, there is also a separate requirement for standard business sponsors of 457 visa holders to pay their overseas workers market salary rates. This means:
If you have any questions concerning this article, please click this link to contact Visa Lawyers Australia.