Master prompt
Financial capacity narrative (Subclass 500)
Stitches funds source, sponsor profile, education loan, and OSHC into a coherent financial story. AUD-based calculations.
AustraliaSubclass 500Financial capacityOSHCAUD
DHA assesses financial capacity under regulation 500.214. The standard for 2024-25 (verify current): Living costs per primary applicant: AUD 24,505 per year (revised October 2024) Spouse / partner: AUD 8,574 per year Child: AUD 3,670 per year Year 1 tuition: must be paid or evidence of capacity to pay Travel: AUD 2,000-2,500 For [CLIENT_NAME] applying for [PROGRAM] (single applicant): Year 1 financial need ≈ AUD [TUITION_YEAR_1_AUD] + 24,505 + 2,500. Draft a 450-550 word financial capacity narrative. §1 — TOTAL CAPACITY SUMMARY (80-100 words) "Year 1 financial requirement: • Tuition: AUD [TUITION_YEAR_1_AUD] • Living costs: AUD 24,505 • Travel: AUD 2,500 • TOTAL Year 1: AUD [calculate sum] Multi-year coverage: • Year 2: tuition + living + return travel for visa renewal • Year 3+ (if applicable): same structure Total program cost: AUD [calculate full program] Funds available: AUD [TOTAL_AVAILABLE = converted INR + loan] Coverage: AUD [TOTAL_AVAILABLE] / AUD [TOTAL_NEED] = [X]% (target ≥100%; ≥130% strongly preferred)" §2 — IMMEDIATE LIQUID FUNDS (130-160 words) [BANK_BALANCES_INR] expanded: For each account: • Bank name + account type (SB, FD, MMF, Demat) • Account holder name (sponsor / applicant) • Balance INR • Balance AUD at official rate (state the rate: e.g. RBI reference rate as of [DATE], 1 AUD = INR [55]) • Statement period covered (6 months minimum) Critical documentation: • Bank statements signed + stamped by bank manager • Original passbook copy • For FDs: original certificates, maturity date, can be liquidated • For mutual funds: latest statement, valuation • Currency conversion table: AUD/INR for visa office reference Recent large deposits warning: • If any account shows deposit >25% of total in last 90 days, must disclose source • Failure to disclose = PIC 4020 (bogus document / incorrect info) risk = refusal + 3-year ban §3 — SPONSOR PROFILE + CAPACITY (130-160 words) [SPONSOR_PROFILE] expanded: Sponsor financial credibility: • Profession: position, tenure, employer • Annual income (verified by ITR last 3 years) • Income trend: stable / growing / declining (DHA prefers stable or growing) • Other income sources: rental, business, investments • Net worth: liquid + property + business equity Documentation: • Sponsor's ITRs (3 years certified) • Form 16 (if salaried) or business audited financials (if self-employed) • Salary slips (3-6 months) • Bank statements showing salary credits • Property documents (if relied upon for capacity demonstration) • Business registration documents (if self-employed) For Indian self-employed sponsors: • Address business stability (years operating, GST registration, employee count) • Audited financials by Chartered Accountant • Industry context §4 — EDUCATION LOAN — IF APPLICABLE (80-100 words) none: If non-zero: • Sanctioning bank (SBI, BoI, Canara, HDFC Credila, Avanse, Axis, Punjab National) • Sanction date + sanctioned amount • Disbursement schedule (per semester / per year) • Coverage: tuition + living / tuition only / specific amounts • Collateral if applicable (property mortgage) • Interest rate + repayment terms (EMI starts post-graduation) • Sanctioned in [CLIENT_NAME]'s name OR sponsor's name as guarantor Education loans count as committed funds for DHA purposes — they prove capacity to fund without depending on Australian work. §5 — PROPERTY ASSETS (IF RELIED UPON) (60-80 words) not relied upon: If non-zero: • Property type (residential / agricultural / commercial) • Location + ownership (sponsor / joint family) • Current market value (independent valuation if recent, government circle rate alternative) • Liquidation plan (sale planned, sale completed, mortgage available) • Documentation: registry deed, title certificate, market valuation report For Indian-context, ancestral property is often illiquid — better to demonstrate capacity through liquid funds + loan + income; reserve property as backstop. §6 — SUSTAINABILITY + COMPLIANCE (60-80 words) • Funds are unencumbered (no liens, no pledges) • Funds are transferable to Australia (RBI Liberalised Remittance Scheme — USD 250,000/year limit per individual) • Funds source is documented (rules out money laundering / PIC 4020 concerns) • [CLIENT_NAME] commits to not relying on Australian student work earnings for tuition / living costs (DHA permits 48 hours/fortnight during sessions + unlimited during breaks, but funds must NOT depend on this) §7 — OSHC (Overseas Student Health Cover) (40-60 words) Mandatory under visa condition 8501: • Approved providers: BUPA, NIB, Medibank, Allianz, AHM • Coverage for entire visa period • Cost: AUD 700-1,200/year for single • Purchased before visa application or shortly after • OSHC reference number included in visa application End with: "DRAFT FINANCIAL CAPACITY NARRATIVE — for MARN-registered agent review. Verify current AUD living-cost threshold + tuition figures against immi.homeaffairs.gov.au. Recent large deposits trigger heightened scrutiny under PIC 4020; disclose proactively with source documentation."
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