The Australian Government has announced an update to the income requirements for some visa categories. Starting from July 1, 2024, the annual minimum salary requirement will be increased from AUD 70,000 to AUD 73,150.
This update was made by Andrew Giles, the Minister for Immigration, Citizenship, and Multicultural Affairs, under the new legislative instrument (LIN 24/052) signed on June 28, 2024. The changes specifically amend the earlier Migration Instrument of 2018 concerning income thresholds and salary rates for visa nominations.
What does Income Threshold increase mean for visa applicants?
– The new salary rate will apply to nominations submitted on or after July 1, 2024.
– This adjustment ensures that salaries offered to visa holders are kept in line with current market rates.
Which visa subclasses are affected by the recent Income Threshold increase?
In Australia, certain visa categories require sponsors or nominators to meet specific income thresholds when nominating overseas workers. These are primarily employer-sponsored visas, designed to ensure that the businesses sponsoring foreign workers are financially stable and capable of supporting their employees. Here’s a list of such visas:
If you’re planning to apply for a visa that requires nomination approval and need assistance understanding how these changes may affect you, consider reaching out to Heenan & Browne Visa Migration Services. Our team of experts can provide guidance and support to ensure your application meets all the new requirements. Book an appointment now.