The minimum income requirements for some visa categories are set to increase, on 26 November 2018.
Why the change?
INZ adjusts minimum income requirements regularly.
It is expected that these salary thresholds will continue to increase, with further updates at a similar level expected, in 2019.
What are the changes?
Increases will be made across the essential skills work visa and skilled migrant residence visa categories. The changes have been summarised below.
Essential skills work visas
|Skill level||Current rate||26 November 2018||Visa duration|
|Low-skilled employment, at ANZSCO level 1-3||Less than $20.65 hourly||Less than $21.25 hourly||12 months|
|Low-skilled employment, at ANZSCO level 4-5||Less than $36.44 hourly||Less than $37.50 hourly||12 months|
|Mid-skilled employment, at ANZSCO level 1-3||$20.65 - $36.43 hourly||$21.25 - $37.49 hourly||3 years|
|High-skilled employment, at any ANZSCO level||At least $36.44 hourly||At least $37.50 hourly||5 years|
Skilled Migrant residence visas
|Skill level||Current rate||26 November 2018|
|Skilled employment, at ANZSCO level 1-3.||$24.29 hourly||$25.00 hourly|
|Skilled employment, at ANZSCO levels 4-5 or where there is no matching ANZSCO code.||$36.44 hourly||$37.50 hourly|
Employers may need to increase impacted employee's salaries, if they are submitting work or residence visa applications, after 26 November 2018.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.