In a newsletter, the Dept. of Home Affairs has revealed the taxable income and minimum salary threshold for the new Subclass 494 Visa. It has also provided details for the Subclass 191 (Permanent Residency Skilled Regional) Visa.
The TSMIT (Temporary Skilled Migration Income Threshold) for both the visas will be $53,900 per year.
However, Subclass 494 Regional Visa holders have to be aware that there is a minimum salary component for this visa. An employer has to meet the minimum salary requirement before they can nominate an overseas worker for the visa. Concessions will apply only if the worker is being sponsored under a DAMA (Designated Area Migration Agreement) or a 494 Labour Agreement.
For the Subclass 191 PR Visa, Subclass 494 and 491 holders should meet a minimum taxable income threshold per year.
The TSMIT has been a threshold for several visas in Australia:
- Subclass 186- Employer Nomination Scheme
- Subclass 187- Regional Sponsored Migration Scheme
- Subclass 189- Skilled Independent Visa (New Zealand stream)
- Subclass 191- Permanent Residence (Skilled Regional)
- Subclass 494- Skilled Employer-Sponsored Regional Provisional
- Subclass 482- Temporary Skills Shortage
The Dept. of Home Affairs newsletter also stated that Regional Visas of Australia will enjoy priority processing.
Y-Axis offers a wide range of visa services and products for aspiring overseas immigrants including Australia General Skilled Migration Program via RMA, Australia Skilled Regional Visa, Australia Temporary Skilled Work Visa, and Australia Temporary Graduate Visa Subclass 485. We work with Registered Migration Agents in Australia.
If you are looking to Visit, Study, Work, Invest or Migrate to Australia, talk to Y-Axis, the World’s No.1 Immigration & Visa Consultant.
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