Restaurants lash out at $70,000 ‘skilled’ migrant pay floor
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On Thursday, Home Affairs Minister Claire O’Neil announced that on 1 July, the Temporary Skilled Migration Income Threshold (TSMIT) would be lifted from $53,900 to $70,000; although it would not be indexed to wage growth.
Labor’s new $70,000 TSMIT is still $15,000 below Australia’s median full-time salary, which itself is pulled down by unskilled workers. Thus, it will continue to encourage low-paid ‘skilled’ visas to enter Australia.
Nevertheless, Restaurant & Catering Australia (R&CA) – the peak industry body representing over 57,000 restaurants, cafes and catering businesses across Australia – has lashed out at the new TSMIT.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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