LODAY (Migration)

This matter concerned an application for a Subclass 500 (Student) visa. The applicant provided evidence of funds held in a bank account in his name and funds held by his sister in the USA. The Tribunal was required to determine whether the applicant had provided adequate evidence of genuine access to sufficient funds to meet the costs and expenses associated with his stay in Australia, as required by subclauses 500.214(1) and (2) of Schedule 2 to the Regulations and the Migration (LIN 19/198: Evidence of financial capacity – Subclass 500 Visa and Subclass 590 Visa) Instrument 2019.

The court's reasoning focused on the applicant's financial capacity. It was noted that the applicant had provided evidence of money deposits with commercial banks, satisfying the requirement for evidence of funds held with financial institutions under clause 10 of the Instrument. The Tribunal then considered whether sufficient funds were available to meet the applicant's living costs, course fees, and travel expenses. The living costs were assessed based on the applicant's intended period of study, which exceeded 12 months, requiring a demonstration of $21,041 for the first 12 months. Regarding course fees, the Instrument stipulated that for study periods exceeding 12 months, fees for the first 12 months were to be considered, minus any amounts already paid. The applicant had completed his initial course and paid all associated fees.

Given the findings regarding the applicant's financial capacity, the Tribunal remitted the application for the visa to the Minister for reconsideration. The direction was that the applicant met the criteria under clause 500.214 of Schedule 2 to the Regulations.