Quick Answers
- What does the Department of Home Affairs need? Tuition plus AUD 29,710 per year living cost for the primary applicant, from 10 May 2024.
- What replaced GTE? The Genuine Student (GS) requirement, introduced from March 2024, focusing on study intent and overall application quality.
- Where does the CA certificate fit? It supports the sponsor's overall net worth and the source of funds for tuition and living costs.
- Who issues it? A practising CA registered with ICAI, with an 18-digit UDIN on the certificate.
- How long is it valid? Typically 3 to 6 months; pair it with up-to-date bank statements and loan sanction letters.
Australia tightened financial requirements in May 2024 and replaced GTE with the Genuine Student requirement. A subclass 500 file now needs not just numbers but a clear story of financial capacity and study intent. A net worth certificate for an Australia visa supports this story by showing the sponsor's full balance sheet and source of funds. Last Updated: 05 June 2026.
What is a net worth certificate for an Australia visa?
A net worth certificate for an Australia visa is a CA-certified statement of the sponsor's total assets minus total liabilities, used to support subclass 500 (Student), subclass 600 (Visitor) and other temporary visa applications. It is issued on the CA's letterhead, signed with membership number and stamp, and tagged with a UDIN.
The CA computes Net Worth = Total Assets minus Total Liabilities, listing bank deposits, FDs, mutual funds, shares, immovable property, gold and vehicles on one side, and home loan, personal loan and other dues on the other.
Key Department of Home Affairs terms in one line each
- Subclass 500: the main Australian student visa for full-time study at a CRICOS-registered institution.
- Genuine Student (GS) requirement: replaced GTE in 2024, focusing on study intent and circumstances.
- COE: Confirmation of Enrolment, mandatory before lodging the visa application.
- OSHC: Overseas Student Health Cover, mandatory for the visa duration.
- Living cost benchmark: AUD 29,710 per year for the primary applicant from 10 May 2024.
- UDIN: the 18-digit number that authenticates every CA-issued certificate under ICAI rules.
Australia financial benchmarks from 10 May 2024
| Item | Annual amount (AUD) |
|---|---|
| Primary applicant living cost | 29,710 |
| Spouse or de facto partner | 10,394 |
| Each dependent child | 4,449 |
| School costs per child | 13,502 |
| Travel for primary applicant | 2,000 to 3,000 indicative |
Tuition for the first year and OSHC for the full visa period must be added on top. Applicants must show capacity to cover the first 12 months of all categories.
Where the net worth certificate adds value
- It supports the source of any large deposits in the sponsor's bank account.
- It demonstrates that even after meeting the AUD benchmark, the family retains assets in India.
- It strengthens the Genuine Student response by linking financial capacity to a sustainable funding plan.
- It helps explain education loan and self-funding mixes in the proof of funds.
Documents the CA typically needs
- PAN, Aadhaar and passport copies of sponsor and applicant.
- Latest 2 to 3 years of ITRs and computation for the sponsor.
- Salary slips, Form 16 or audited financials for business sponsors.
- Bank statements for the last 6 months across all accounts.
- FD receipts, mutual fund and demat statements, PPF/EPF balances.
- Property documents with fair value or registered value evidence.
- Loan sanction and outstanding balance certificates for liabilities.
- COE, OSHC receipt and Genuine Student statement for subclass 500.
Common mistakes to avoid
- Showing only the bank balance without context of how it was built up.
- Issuing the certificate without UDIN.
- Ignoring liabilities and over-valuing property.
- Using a certificate older than 3 months relative to the application date.
- Treating the Genuine Student requirement as a formality; a strong financial story directly supports it.
FAQs
Is a net worth certificate mandatory for an Australia visa? No, but it is a widely accepted supporting document for subclass 500 and visitor visa cases.
What is the new living-cost benchmark? AUD 29,710 per year for the primary applicant from 10 May 2024.
What replaced GTE? The Genuine Student requirement, used since March 2024.
Should values be shown in AUD? A dual INR-AUD format is preferred for clarity.
Can my sponsor be self-employed? Yes, with audited financials, ITRs and bank statements as the base for the CA certificate.
Does it replace bank statements? No. It complements them with a consolidated certified statement of net worth.
How recent should the certificate be? Issue it within 3 months of the visa lodgement.
Is it useful for visitor visas too? Yes. It supports sponsorship of relatives for subclass 600 travel.
What if part of the funds come from an education loan? Show the sanction letter; the CA certificate covers the rest of the proof of funds.
About the author
CA Sundaram Gupta
Chartered Accountant at Regikart. Want to discuss this in the context of your business?
