Challenges and Opportunities: Exploring the New Proposed Changes for Subclass 491 Visa
One of the proposed changes for Subclass 491 is the increase of the Temporary Skilled Migration Income Threshold (TSMIT) from $53,900 to $70,000 from July 1. The Temporary Skilled Migration Income Threshold (TSMIT) if a pathway to apply. It poses several challenges for temporary skilled migrants and the Australian labor market. While the intention behind this change is to protect local workers and ensure a level playing field, it also presents potential difficulties and impacts that need to be carefully considered.
If the Temporary Skilled Migration Income Threshold is raised to $70,000, it would likely have several impacts. Raising the income threshold could potentially increase wage pressure for certain occupations. Employers may need to offer higher salaries to attract skilled migrants who meet the new threshold. In addition to that, this higher threshold may require students to secure higher-paying jobs in order to meet the visa requirements, potentially narrowing their job prospects in regional areas. It may also increase the competition for limited high-paying positions and make it more difficult for students to find suitable employment opportunities to fulfill visa criteria.