01 Jun What Is the Annual Market Salary Rate (AMSR) And How Can I Ensure Our Business Remains Compliant?
The findings of the Annual Market Salary Rate can be articulated in the form of submission or in a report format, which Immigration Lawyers and Migration Agents refer to as a Salary Justification Report.
Aside from the aforementioned working visas requiring an AMSR, Salary Justification Reporting has also proven critical when lodging under the Global Talent Visa Program, also known as the Global Talent Independent Program (GTI), which is a streamlined pathway for highly skilled professionals to work and live permanently in Australia, and as per the DHA website, there are 15,000 places available in this program. So, if you are wanting to apply under this visa scheme, you may consult with Worldly Migration for guidance.
Why Businesses Need to Be on top of the Annual Market Salary Rate
As previously mentioned, the practicality of compliance and in setting and adhering to the Annual Market Salary Rate is a good business practice as it allows you to pay your staff with appropriate and fair wages following their qualifications and other considerations. However, much like the updates to modern awards, many occupations under a slight increase over time depending on the economic and workforce conditions, therefore if your original efforts for proving that AMSR shows that your nominated employee is at the precipice on the lower end of the scale rate, then a quarterly review is best recommended to ensure that you are not underpaying or overpaying your staff and at the same time, you can avoid breaching your obligations and risk a penalty.
As a Registered Migration Agent and with a background in recruitment, I have a decade’s worth of experience articulating the AMSR and can best articulate Salary Justification Report for your business. For more information and discussion tailored to your circumstances, book a consultation with Worldly Migration today so we can better assist you with your AMSR submission.
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