Australian High Commission Introduces New Financial Documents

Fri Sep 02 2022 13:49:21 GMT+0545 (Nepal Time)

Australian High Commission Introduces New Financial Documents

Australian High Commission Introduces New Financial Documents

Students must know the recent improvements made to study in Australia. These changes to Australian financial documents in recent months are the most notable changes. Including the introduction of new verification and demand for additional financial documents. 

The goal of these modifications is to increase the stability of genuine students who will be enrolled in Australian universities

 

Before that students must learn many of the conditions remain the same for studying in Australia. 

  • Australia is still open for Nepalese students. 

  • Universities in Australia are willing to accept international students from Nepal.

  • The process for applying to Universities remains unchanged

  • Increment in annual Fee structures remains in the same ratio 

  • The total amount required to study in Australia depends on the course and institution as usual. 

  • A limited number of banks are accepted for payment and the payment process remains the same.   

  • A genuine student’s visa rate is not affected.

  • Visa conditions remain the same. 

For your assurance, we provide free counselling services. Click here to learn more about our services.

 

The main cause of demand for additional documents by the High Commissioner

  • Fraudulent documentation of students mainly in the financial part. 

  • In order to punish the consultancies for their unprofessional conduct, they must either withdraw their applications or put a hold on them because they are unable to use any more forged documents.

 

Australian High Commission Introduces New Financial Documents

Simply financial rules are changed and the door is still open to study in Australia. Learn more from us.

 

Recent changes in the parts of the financial documents: 

  • Sale of Property 

It is important to confirm that the sale of property used as a source of funding was a real sale and transaction.

 

  • Salary Income

Persons receiving a salary are requested to provide any of the following:

Statements of your own bank accounts, itemised for the previous 12 months. Any salary accounts, savings accounts, or other bank accounts that you or the financial sponsors may have been included in this. If there are any sizable cash deposits, identify the source and offer supporting documentation:

  • Employment confirmation letter

  • Salary slips from the employer for the last 12 months

  • PAN of the employee

  • Income tax return for the last three of the employee

Bank statements from cooperative banks are not admissible because they are not registered with Nepal Rastra Bank and neither provide credibility. 

 

  • Business Income

Any income-related allegations that are not backed up by independent verification will not be recognized.

Common claims about the revenue and profit of a business require supporting documentation, which must be based on an audit report.

Audit reports that are not supported by additional independently verifiable documentation, such as ITRS, bank statements, PANs, and ownership confirmation, should not be taken seriously.

 

  • Acceptable auditors

ICAN–  The institute of Chartered Accountants of Nepal

 

  • Bank Loans 

First student loans should be genuine and should be from a specified A class bank category. 

The loan should be disbursed before the visa is lodged and should not be cancelled after the visa grant. 

 

All the financial documents are not necessary to show while applying for a visa to study in Australia. If you meet financial criteria then you can easily apply for a visa without any problem.

 

For more details contact us, we are here to provide you with guidance and help you get started on your journey to studying in Australia.

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