As of 24 October 2019, the annual living costs, annual school costs, and minimum personal annual income for Subclass 500 or Subclass 590 will increase. The changes include:
For a 12 month period, applicants must show:
- $21,041: main applicant
- $7,362: partner or spouse
- $3,152: for each dependent child
- $8,296: schooling costs for dependent children
As an alternative to showing funds, you spouse or your parents can provide evidence of their taxable income in the 12 months prior to application. The minimum income required is as follows:
- $62,222: single applicant
- $72,592: applicant with dependents
Evidence of Financial Capacity
Acceptable evidence of financial capacity includes
- money deposit with a financial institution;
- loan with a financial institution;
- government loans
- scholarship or financial support.
For income, evidence must be official Government documentation of personal income (i.e. Tax assessment notices) that has been issued in the 12 months immediately before the application is made.