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Background
The Department of Home Affairs website provides guidance on the types of evidence a Student visa applicant can provide in order to demonstrate they have genuine access to sufficient funds to meet the financial requirement. The website also suggests evidence to include to substantiate claims regarding an applicant’s economic situation in their home country as part of the genuine temporary entrant (GTE) requirement (see: Subclass 500 Student visa (homeaffairs.gov.au) > Step by step > Gather your documents).
The Department regularly reviews evidence submitted as part of applications against the legislated criteria for visas.
Clarification on evidencing business income in Nepal
The Department notes that historically, some applicants from Nepal have presented funds from a sponsor who is the owner or part-owner of a business in support of their financial requirement or GTE claims. Some applicants have submitted business audit reports with or without other corroborating evidence of the business activity such as bank transaction statements, Tax Clearance Certificates, and business registration documents.
The Department advises that for future visa applications business audit reports will not be accepted and thus, need not be provided.
- Applicants should continue to demonstrate the total funds required to fund study and stay in Australia through documentation from registered financial institutions that meet the legislated definition in Regulation 1.03. This may include itemised bank statements, balance certificates, fixed/term deposits, and/or loans.
- Where this includes a money deposit, applicants should explain the source and provide evidence.
- Where this includes a loan, applicants should provide evidence of the collateral and ability to service the loan.
- Applicants providing evidence of claimed business or rental income can provide documentation from registered financial institutions (such as itemised bank statements), official verifiable government tax documents (such as Tax Clearance Certificates), and/or evidence of business and or property ownership (such as business registration documents).
- Applicants providing evidence of employment can provide salary certificates, payslips, employment contracts, income tax assessments, and/or documentation from registered financial institutions.
In line with established practice, financial claims based on self-declaration or self-assessment – including audit reports – are given no weight in the assessment.