ASSURANCES OF SUPPORT – BIG CHANGES TO AOS Bond payments  AND also the LEVEL OF INCOMES required for assurers

  • Changes  to the required level of income for assurers started on 12 April 2018

  • Assurances of support (Bond)  will increase by approximately 50% from 1 April 2019.

Income requirements have also been updated to ensure that an assurer has the capacity to provide the level of financial support required by a visa or CSP entrant

 

The legislative instrument can be found at:

https://www.legislation.gov.au/Details/F2018L00425/Download

Part 5 provides the income requirements for assurers who want to provide an AOS – these commenced on 1 April  2018

The new formulates significant increase the level of income required to be permitted to provide an AOS,

Part 7 provides the increased values of AOS from 1 April 2019 (ie $15000 for a contributory parent visa)

This Instrument relates to mandatory AoS for the following visa subclasses:

 Number

Subclass

103

Parent

114

Aged Dependent Relative

115

Remaining relative

143

Contributory parent

804

Aged parent

835

Remaining relative

838

Aged dependent relative

864

Contributory Aged parent

The Instrument also related to visa subclasses with discretionary  AoS requirements:

Number

Subclass

101

Child

102

Adoption

117

Orphan relative

151

Former resident

802

Child

837

Orphan relative

All Migration Agents are required to be registered with the Office of the Migration Agents Registration Authority (OMARA) in order to provide migration advice & assistance. Please see link to consumer guide for further information Consumer Guide