How to use this calculator
- Enter your course length and total tuition — the requirement counts only the first-year tuition portion
- Add family members if any, including school-age children who carry an extra A$13,502 per year
- Say whether you are applying from inside or outside Australia
- Optionally enter a sponsor's income to see whether the income route beats the deposit route
- Add a 10-20% buffer to the result before you fix your funding plan
Australia assesses financial capacity for the first twelve months only. The headline living figure is A$29,710 for the main applicant — raised from A$24,505 in 2024, and many calculators still show the old number. Add-ons are fixed: A$10,394 for a partner, A$4,449 per child, and A$13,502 per year of school fees for each school-age child.
The tuition component has a real trap. Home Affairs counts the first year of tuition, not the whole course. If your two-year master's costs A$64,000 total, the requirement uses A$32,000, not A$64,000 — provided the fee is genuinely spread across years. Money already paid to the university is deducted.
Australia uniquely offers an income escape hatch: if an eligible sponsor's personal annual income reaches A$87,856 (or A$102,500 with family members included), no deposit needs to be shown at all. For families where a parent earns strong verifiable income, this route avoids locking up tens of thousands in a deposit account.
Whatever route you take, the balance story matters. Australian case officers explicitly scrutinise large deposits made shortly before applying. A sudden A$40,000 appearance in a dormant account is a genuine red flag, not folklore — keep funds seasoned and documented.
English language requirement (for context)
The subclass 500 visa generally requires IELTS 6.0 overall with no band below 5.0; the 485 post-study work visa requires 6.5 overall with 5.5 minimum. Only test-taker-in-person results count — online or at-home versions are not accepted for these visas.
The A$2,500 visa fee is not refundable
The application charge rose to A$2,500 for the main applicant. It is payable at submission and is not refunded if the visa is refused — one more reason to get the financial evidence right the first time.