Statutory Declaration

Proof of Funds for Study and Living in Australia (Subclass 500 Student Visa)

International students applying for an Australian Student Visa (Subclass 500) must provide proof of funds to demonstrate their financial capacity to cover tuition fees, living costs, travel expenses, and schooling costs (if applicable).

This guide breaks down the financial requirements, acceptable evidence, and best practices to ensure a smooth visa application process.

1. Understanding Proof of Funds for the Student Visa

Why is Proof of Funds Required?
The Australian Government mandates proof of funds to ensure students can afford their studies and stay in Australia without facing financial hardship.

Applicants must demonstrate sufficient funds to cover the following:
✔ Tuition fees – For the first 12 months (or the entire course duration if less than a year).
✔ Living expenses – To support themselves and any accompanying family members.
✔ Travel costs – To and from Australia.
✔ Schooling costs – If bringing dependent children (aged 5–17).

2. Minimum Financial Requirements (Effective 2025)

Living Costs (Annual Estimate)

• Primary applicant (student): AUD 29,710
• Partner/spouse (if applicable): AUD 10,394
• Each dependent child: AUD 4,449

Tuition Fees

• Provide evidence of tuition fees for 12 months or the entire course duration if shorter than a year.
• If already studying in Australia, evidence must cover the next 12 months of tuition fees.

Schooling Costs for Dependent Children

• At least AUD 13,502 per child per year (varies by state and school type).
• Exemptions:
  • PhD students enrolling children in Australian government schools (where fees are waived).
  • Australian Government-sponsored students (e.g., Department of Foreign Affairs or Defence).

Travel Costs (Estimate)

• AUD 2,500 – If applying from East or Southern Africa
• AUD 3,000 – If applying from West Africa
• AUD 2,000 – If applying from any other country
• AUD 1,000 – If applying from within Australia

3. Acceptable Forms of Financial Evidence

Applicants can demonstrate financial capacity through the following methods:

✅ 3.1 Bank Deposits (Savings Accounts)

• Bank statements showing the required amount maintained for at least 3 months before visa application.
• If there is a large recent deposit, applicants must provide an explanation and source of funds.

✅ 3.2 Government or Institutional Loans

• Provide an official loan approval letter stating the loan amount, repayment terms, and disbursement schedule.
• The loan must clearly cover tuition and living expenses.

✅ 3.3 Scholarships or Sponsorships

• A formal letter from the sponsor or scholarship provider outlining:
  • The amount covered (tuition, living, travel).
  • The duration of the funding.

✅ 3.4 Proof of Parent’s or Partner’s Income

• If using family income as proof, applicants must show that their parent(s) or partner earned at least AUD 87,856 in the past 12 months.
• If family members are included in the visa application, the income requirement increases to AUD 102,500.
• Acceptable documents:
  • Official tax assessments (less than 12 months old).
  • Government financial statements (bank statements alone are NOT sufficient).

4. Proving Genuine Access to Funds

Having the required amount is not enough—students must also prove they can access these funds.

Documents to Support Fund Accessibility

✔ For savings accounts: Provide bank statements for at least 3 months showing a stable balance.
✔ For education loans: Provide loan agreements specifying disbursement schedule and repayment conditions.
✔ For sponsorships: Provide a formal letter from the sponsor, along with their financial documents.
✔ For business-funded studies: Submit business registration, tax returns, and income statements to confirm ongoing revenue.

5. Special Cases and Exemptions

Some applicants may not need to submit financial proof upfront but may still be asked for it during processing.

Exemptions apply to:

• Students eligible for streamlined visa processing (SVP).
• Australian Government-sponsored students (e.g., Department of Foreign Affairs, Defence).
• PhD students under a Commonwealth scholarship.

6. Consequences of Insufficient Proof of Funds

Failure to provide sufficient, verifiable financial evidence can result in visa refusal.

Common Reasons for Rejection:

🚫 Incomplete financial documentation.
🚫 Unexplained large deposits or questionable fund sources.
🚫 Documents that do not meet requirements (e.g., bank statements without supporting evidence).
🚫 Relying on work income to prove financial capacity (not allowed).

To avoid rejection:
✅ Submit official, verifiable financial documents.
✅ Ensure non-English documents are translated by a certified translator.
✅ Attach complete financial evidence in ImmiAccount at the time of application.

7. Tips for a Successful Student Visa Application

✔ Calculate your financial needs correctly – Include tuition, living expenses, travel, and dependent schooling costs.
✔ Submit complete documentation – Ensure all financial evidence meets visa requirements.
✔ Demonstrate accessibility of funds – Clearly explain how you will access and use the funds.
✔ Apply early – Avoid last-minute applications that could lead to delays or additional document requests.

Statutory Declaration under Section 9 of the Statutory Declarations Act 1959

A statutory declaration under section 9 of the Statutory Declarations Act 1959 may be made before:

(1) A person who is currently licensed or registered under a law to practise in one of the following occupations:

• Architect
• Chiropractor
• Financial adviser
• Medical practitioner
• Nurse
• Patent attorney
• Psychologist
• Financial Planner
• Midwife
• Occupational therapist
• Pharmacist
• Trade marks attorney
• Dentist
• Legal practitioner
• Migration agent registered under Division 3 of Part 3 of the Migration Act 1958
• Optometrist
• Physiotherapist
• Veterinary surgeon

(2) A person who is enrolled on the roll of the Supreme Court of a state or territory, or the High Court of Australia, as a legal practitioner (however described).

(3) A person who is in the following list:

• Accountant who is:
  • a fellow of the National Tax Accountants’ Association; or
  • a member of any of the following:
    1. Chartered Accountants Australia and New Zealand
    2. The Association of Taxation and Management Accountants
    3. CPA Australia
    4. The Institute of Public Accountants
• Agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public
• APS employee engaged on an ongoing basis with 5 or more years of continuous service who is not specified in another item in this list
• Australian Consular Officer or Australian Diplomatic Officer (within the meaning of the Consular Fees Act 1955)
• Bailiff
• Bank officer with 5 or more continuous years of service
• Building society officer with 5 or more years of continuous service
• Chief executive officer of a Commonwealth court
• Clerk of a court
• Commissioner for Affidavits
• Commissioner for Declarations
• Credit union officer with 5 or more years of continuous service
• Employee of a Commonwealth authority engaged on a permanent basis with 5 or more years of continuous service who is not specified in another item in this list
• Employee of the Australian Trade and Investment Commission who is:
  • (a) in a country or place outside Australia; and
  • (b) authorised under paragraph 3(d) of the Consular Fees Act 1955; and
  • (c) exercising the employee’s function at that place
• Employee of the Commonwealth who is:
  • (a) at a place outside Australia; and
  • (b) authorised under paragraph 3(c) of the Consular Fees Act 1955; and
  • (c) exercising the employee’s function at that place
• Engineer who is:
  • (a) a member of Engineers Australia, other than at the grade of student; or
  • (b) a Registered Professional Engineer of Professionals Australia; or
  • (c) registered as an engineer under a law of the Commonwealth, a state or territory; or
  • (d) registered on the National Engineering Register by Engineers Australia
• Finance company officer with 5 or more years of continuous service
• Holder of a statutory office not specified in another item in this list
• Judge
• Justice of the Peace
• Magistrate
• Marriage celebrant registered under Subdivision C of Division 1 of Part IV of the Marriage Act 1961
• Master of a court
• Member of the Australian Defence Force who is:
  • (a) an officer
  • (b) a non-commissioned officer within the meaning of the Defence Force Discipline Act 1982 with 5 or more years of continuous service
  • (c) a warrant officer within the meaning of that Act
• Member of the Australasian Institute of Mining and Metallurgy
• Member of the Governance Institute of Australia Ltd
• Member of:
  • (a) The Parliament of the Commonwealth
  • (b) The Parliament of a state
  • (c) A territory legislature
  • (d) A local government authority
• Minister of religion registered under Subdivision A of Division 1 of Part IV of the Marriage Act 1961
• Notary public, including a notary public (however described) exercising functions at a place outside:
  • (a) the Commonwealth
  • (b) the external territories of the Commonwealth
• Permanent employee of the Australian Postal Corporation with 5 or more years of continuous service who is employed in an office providing postal services to the public
• Permanent employee of:
  • (a) A state or territory or a state or territory authority
  • (b) A local government authority with 5 or more years of continuous service, other than such an employee who is specified in another item of this list
• Person before whom a statutory declaration may be made under the law of the State or Territory in which the declaration is made
• Police officer
• Registrar, or Deputy Registrar, of a court
• Senior executive employee of a Commonwealth authority
• Senior executive employee of a State or Territory
• SES employee of the Commonwealth
• Sheriff
• Sheriff’s officer
• Teacher employed on a permanent full-time or part-time basis at a school or tertiary education institution

Required Financial Documents from Sponsors (Relatives and Friends) for an Australian Student Visa (Subclass 500)

If a relative or friend is sponsoring your studies in Australia, you must provide clear and verifiable financial evidence that demonstrates they have the capacity and willingness to support you. The Department of Home Affairs will assess whether the sponsor has genuine financial capacity and that you have real access to these funds.

1. Who Can Be a Sponsor?

A sponsor can be a:
✔ Parent or legal guardian
✔ Grandparent
✔ Sibling
✔ Uncle or aunt
✔ Partner or spouse
✔ Close friend (requires strong justification)

💡 If your sponsor is not an immediate family member, you may need to provide additional proof of your relationship and why they are willing to support you.

2. Essential Financial Documents from Sponsors

To prove financial capacity, the sponsor must provide one or a combination of the following:

✅ 2.1 Bank Statements (Savings Evidence)

✔ Official bank statements showing a consistent balance covering at least 3 months before the visa application.
✔ The amount must cover tuition, living costs, and travel expenses as per Australian immigration requirements.
✔ If there is a large recent deposit, the sponsor must explain its source (e.g., salary, property sale, inheritance).

✅ 2.2 Income Proof (Annual Earnings)

If the sponsor is funding the student based on regular income, they must provide:
✔ Salary slips/pay stubs for the past 6 months.
✔ Tax returns or government-issued tax assessments (less than 12 months old).
✔ Employment contract or letter from employer confirming salary, position, and job tenure.
✔ If self-employed:

• Business registration certificate.
• Audited financial statements (profit & loss, balance sheet) for the past 2 years.
• Recent business tax returns.

💡 The Australian Government requires sponsors earning at least AUD 87,856 per year (AUD 102,500 if family members are included in the application).

✅ 2.3 Proof of Business Income (If the Sponsor is a Business Owner)

✔ Business registration certificate (showing legal ownership).
✔ Company tax returns for the last 2 years.
✔ Profit & loss statements showing stable income.
✔ Business bank account statements (demonstrating regular transactions).

✅ 2.4 Property Ownership & Rental Income (If Applicable)

✔ Title deed or property ownership documents.
✔ Rental agreements or lease contracts (showing regular rental income).
✔ Property valuation report (if applicable).

✅ 2.5 Sponsor’s Letter of Financial Support

✔ A notarized letter from the sponsor declaring their commitment to support the student.
✔ The letter must mention:

• The relationship with the student.
• The amount they are sponsoring.
• Their reason for sponsoring the student.
• Details of funds, including where the money is kept and how it will be transferred.

💡 A legal affidavit of financial support may be required if the sponsor is a distant relative or a friend.

3. Proving Genuine Access to Funds

Immigration authorities will assess whether the student has real access to the funds. The following evidence may be required:

✔ Proof of fund transfers from sponsor to student (if applicable).
✔ Loan disbursement schedules (for education loans).
✔ Explanation of any large deposits in the sponsor’s account.
✔ Documents proving a history of financial support (if the sponsor has helped the student previously).

4. Special Cases & Additional Considerations

🔹 Multiple Sponsors

• If more than one person is sponsoring you, each must provide their financial documents.
• The total funds from all sponsors must meet Australian Student Visa financial requirements.

🔹 Sponsored by a Friend (Non-Relative)

• The Australian Government prefers family sponsorship.
• If a friend is sponsoring, additional documents may be required to prove:
  • A strong personal relationship (e.g., shared history, photos, letters).
  • A genuine commitment to supporting the student.

🔹 Education Loans

• If funding comes from a loan, ensure:
  • The loan is approved and disbursed before visa application.
  • The loan documents include repayment terms and conditions.

5. Submission Guidelines

🔹 All documents must be clear, legible, and in English.
🔹 Non-English documents must be translated by a certified translator.
🔹 Upload all financial proof in ImmiAccount at the time of visa application.

6. Final Tips for a Successful Visa Application

✔ Ensure all documents are official and verifiable.
✔ Show that the sponsor has stable and sustainable income.
✔ Provide a well-written sponsorship letter detailing financial commitment.
✔ Attach translated copies of all non-English documents.
✔ Apply early to allow time for any additional document requests from the Department of Home Affairs.

By following these guidelines, applicants can increase their chances of visa approval and demonstrate strong financial backing for their studies in Australia. 🎓🇦🇺