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Market Salary Rates Arrangements
From 14 September 2009 Market Salary Rates requirements are introduced to (subclass 457) Business Long Stay Visa applications.

The payment of market salary rates will ensure all new sponsored (subclass 457) visa holders will benefit from the same wages and conditions of employment as an equivalent Australian employee. The market salary rates will be determined by industrial arrangements that apply to an Australian employee also.

Temporary Skilled Migration Income Threshold (TSMIT)
In order to have a 457 visa application granted, the market salary rate, payable to the new visa holder, must be more than $45 220.

Transitional arrangements for existing 457 visa holders
Transitional arrangements are in place for employers currently paying less than the market salary rates to their employees who hold 457 visas. By 1 January 2010 the salaries must be increased to market salary rates.

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