Annual living costs amounts for students, their guardians and accompanying family members of the students have been increased.
On 23 October 2019, the annual living costs amounts for students, guardians and accompanying family members was updated in line with Consumer Price Index (CPI) increases to mitigate the risk of visa holders falling into financial hardship during their stay in Australia.
The following annual living costs and expenses was updated:
1. For a primary applicant:
an increase from AUD20,292 to AUD21,041
2. For a spouse or de facto partner of the primary applicant:
an increase from AUD7,100 to AUD7,362
3. For a dependent child:
an increase from AUD3,040 to AUD3,152
4. Annual school costs of a school going child of a student:
an increase from AUD8,000 to AUD8,296
5. Personal annual income if there is no secondary applicant:
an increase from AUD60,000 to AUD62,222
6. Personal annual income where there is a secondary applicant:
an increase from AUD 70,000 to AUD72,592
Future financial capacity evidence requirement updates will be made on an annual basis in line with the CPI increases, with implementation at the end of each financial year.
Adjustments in the CPI are provided by the Australian Bureau of Statistics (ABS). We expect the next increase will occur after July 2020.
If you need any further information, please feel free to contact us.
Team NC Solicitors