New financial capacity thresholds announced for Student and Student Guardian Visa applicants

Written By Ndi Ruppert

Applicants for Student Visas (Subclass 500) and Student Guardian Visas (Subclass 590) will need to demonstrate they can meet new, higher thresholds of financial capacity when lodging their applications from Friday 10th May 2024. 

The new capacity threshold was introduced to align with the national minimum wage, reflecting the realistic requirement for students and/or their guardians to have a minimum standard of living while studying in Australia, and importantly to avoid situations leading to financial distress, breaching visa conditions by working beyond accepted limits, or being vulnerable to wage exploitation. 

The Department of Home Affairs considers that students are engaged 75% of their time in study, and the remaining 25% of time is personal time for unrestricted work or returning home.  Therefore, the funds that the applicant must demonstrate having access to upon entry to Australia represents 75% of the national minimum wage. 

For example, the primary applicant must demonstrate access to the $29,710 pear year, up from $24,505 if submitting a Subclass 500 Student Visa on or after 10 May 2024.  Thresholds for financial capacity to meet the costs of a spouse or defacto partner, dependent children, annual school costs, and personal income have also increased.   

Any applications lodged before 10th May will be assessed under the financial capacity requirements in effect before 10th May. 

We eagerly await the release of the Federal Budget on 14 May 2024 to see if there will be an increase to Student Visa application fees, a proposal flagged earlier this year by a leading Australian policy institute, as a means for the government to generate additional income which could be directed to cost of living relief. 

If you have found the  publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances, please contact us at info@ruppertlegal.com.au or make an appointment at a time convenient to you via the Ruppert Legal Booking Page.

Please note that this publication is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances.

Ndi Ruppert
Qualifications

Ndi Ruppert is the principal and founder of Ruppert Legal, a boutique immigration law firm based in the Hunter region. She holds a Bachelor of Business and Law, a Diploma of Legal Practice, and a Master of Laws with Distinction majoring in Human Rights and International Business from the University of Newcastle.

Experience

Ndi has been admitted to the Supreme Court of New South Wales as a solicitor for over 13 years. Before establishing her own legal immigration practice in 2021, Ndi was responsible for the immigration division at Hicksons Lawyers, a large international corporate law firm with offices in Sydney and Newcastle. As evidenced by her continued listing on the Doyles List of Leading Immigration Lawyers in New South Wales, Ndi has become a sought after and highly regarded Australian immigration advisor with clients ranging from individuals, families, entrepreneurs and small businesses, through to large multinational corporations.

With a special interest in human rights & immigration, Ndi has a passion for helping those in need and being a voice for the vulnerable, having previously worked as an advocate for people with disabilities, including assisting them with NDIS appeals. At Ruppert Legal, Ndi continues her dedication to supporting victims of domestic family violence and is committed to ensuring that clients have access to justice through Ruppert Legal’s pro bono service in collaboration with Mosaic Multicultural Connections.

https://www.ruppertlegal.com.au/bio-ndi-ruppert
Previous

Comparing the Subclass 482 with proposed ‘Skills in Demand’ Visa

Next

Changes to Licensing Regimes – Effects on Overseas License Holders