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IMPACT – MEDIUM
What is the change? New Zealand is poised to increase income thresholds for Skilled Migrant Resident Visas and Essential Skills Work Visas.
What does the change mean? The salary thresholds will increase by 2% across the board on Feb. 24. The exact amounts vary depending on the type of visa, job category and skill level, as detailed below.
Additional information: The new thresholds are based on the country’s median salary of NZ$25.50 per hour or NZ$53,040 per year for a 40-hour work week.
Skilled Migrant Resident Visas (all figures in New Zealand dollars):
* Some occupations at ANZSCO skill levels 4 and 5 are treated as an exception. From Feb. 24, the threshold for skilled employment for these occupations will be $25.50 per hour ($53,040 per year) or above
Essential Skills Work Visas (all figures in New Zealand dollars):
Analysis & Comments: Employers should budget for the increase as needed. The new income thresholds affect only applications received by Immigration New Zealand on or after Feb. 24. The changes do not affect current visa holders or (1) Essential Skills Work Visa applications received before Feb. 24 or (2) Skilled Migrant Residence Visas for which the Expression of Interest has been selected before Feb. 24.
Source: Deloitte. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. For legal, regulatory and other reasons, not all member firms provide legal services. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the “Deloitte network”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication. © 2020. For information, contact Deloitte Touche Tohmatsu Limited.
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