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New Student Visa financial capacity requirements

Starting February 2018, those applying for Australia’s student visa will have to show more funds to prove that they have sufficient funds available whilst undertaking studies in Australia.

Australia requires applicants from certain countries applying for student visas to have enough funds genuinely available to pay for course fees, travel, and living costs for the student and their accompanying family members while in Australia.

From 1 February 2018:

Main Student or Guardian: $20,290 (up from $19,830)
Partner or Spouse: $7,100 (up from $6,940)
Per Child: $3,040 (up from $2,970)

As evidence of financial capacity, international students are asked to provide either:

Evidence of sufficient funds to cover travel costs, 12 months of living and tuition fees for themselves and accompanying family members, and school costs for any school-aged dependants.
Evidence that their spouse or parents are willing to support them and have an annual income that meets the requirements.

Abolition and replacement of the 457 Visa

On 18 April 2017, the Government announced that the Temporary Work (Skilled) visa (subclass 457 visa) will be abolished and replaced with the completely new Temporary Skill Shortage (TSS) visa in March 2018. There are two main streams available under this new TSS visa program: Short-term stream – this is for employers to source genuine temporary overseas skilled workers in occupations included on the Short-term Skilled Occupation List (STSOL)1 for a maximum of two years (or up to four years if an international trade obligation applies) Medium-term stream – this is for employers to source highly skilled overseas workers to fill medium-term critical skills in occupations included on the Medium and Long-term Strategic Skills List (MLTSSL)1 for up to four years, with eligibility to apply for permanent residence after three years This new visa is part of the Government's significant reform package to strengthen the integrity and quality of Australia's temporary and permanent employer sponsored skilled migration programs. The implementation of these reforms began in April 2017 and will be completed in March 2018. Key reforms include: April 2017: significantly condensing the occupation lists used for skilled migration visas, including the subclass 457 visa. January 2018: further reforms of the occupation lists used for skilled migration visas, including the subclass 457 and 407 visas. March 2018 - TSS: introducing the TSS visa, with new requirements, including but not limited to: tightened English language requirements a requirement for visa applicants to have at least two years work experience in their skilled occupation mandatory labour market testing, unless an international trade obligation applies capacity for only one onshore visa renewal under the Short-term stream capacity for visa renewal onshore and permanent residence eligibility after three years under the Medium-term stream a non-discriminatory workforce test to ensure employers are not actively discriminating against Australian workers a requirement to pay a contribution to the Skilling Australians Fund (subject to legislation passing). March 2018 - Permanent: tightening eligibility requirements for employer sponsored permanent skilled visas, including but not limited to: a requirement for visa applicants to have at least three years work experience applicants must be under the maximum age requirement of 45 at the time of application (unless exemptions apply) employers must pay the Australian market salary rate and meet the Temporary Skilled Migration Income Threshold (TSMIT)2 a requirement to pay a contribution to the Skilling Australians Fund (subject to legislation passing).

General Skilled Migration minimum points pass mark increasing

Australia has raised the minimum eligibility score from 60 to 65 points for all skilled migration visa applications made on or after July 1, 2018. The visa categories include: Australia Skilled Independent Visa subclass 189 Australia Skilled State Sponsored Visa subclass 190 Australia Skilled Regional Provisional Subclass 489 visa This legislative change will impact all applicants on 60 points who have not yet received an invitation to apply for a skilled visa. Applications lodged in respect of invitations that were issued before this date will remain subject to current requirements of 60 points. The increase in pass mark to apply for Australia PR reflects the high level of interest in skilled migration to Australia. It's important to note that obtaining the new minimum points score of 65 does not guarantee an invitation to apply for a visa. Realistically, an applicant requires a minimum of 70 to 75 points to secure an invitation to apply for a Skilled Independent 189 Visa.

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