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Guest rowy

financial capacity for living expenses - permanent visa 176 / 886 / 134

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    Guest rowy

    Finally got my Skills Assessment back as a Midwife and stuck on the application form for SA Sponsorship. Not sure what to put on the page for the Financial Capacity for living expenses? Our money will be from the sale of our house, like most people I expect, with some savings and also an inheritance I have just received. So do we put down what we expect to achieve as equity from the sale? Any help please?? It says Net Value of property, do they mean my current house? Do they mean the equity on it? Penny :nah:

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    Guest rockpool crab
    Finally got my Skills Assessment back as a Midwife and stuck on the application form for SA Sponsorship. Not sure what to put on the page for the Financial Capacity for living expenses? Our money will be from the sale of our house, like most people I expect, with some savings and also an inheritance I have just received. So do we put down what we expect to achieve as equity from the sale? Any help please?? It says Net Value of property, do they mean my current house? Do they mean the equity on it? Penny :nah:

     

    Hi there,

     

    If it's any help I put down the equity of our house (as well as savings). But, as it transpired, we never sold the house, so only came with savings. It really didn't matter, it's not like anyone checked up on us. As long as you have enough to keep yourselves whilst you look for work that's the important thing.

     

    Bye for now...Carol Ann

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    Guest familygood

    Yes they are wanting to know what disposable cash you will have to play with when you arrive. I would be careful with the equity thing though as I have heard they are not so happy with just a valuation of your property and a copy of your mortgage statment to prove it in the current economic climate... I guess a lot of peoploe cant sell their house so they arent so keen on just equity as a means of proving your capacity.

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    Guest brandyslad

    I put down what we had in savings which isn't a massive pile then I added on what I expect to get for the cars and then I got my mortgage valuation from a year ago when we remortgaged, minused 25% of it and then took of what we still had to pay. I got it signed in the Halifax, they didn't check any of the info even though I had printed of price valuations for the cars of Parkers and brought in evidence of savings and house valuation.

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    Guest covfan71

    When they say "net" it means what you have left when everything is sold. You only need $40k i think to be considered for sponsorship. We put down a recent estate agent valuation minus the outstanding mortgage and that was fine.

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    Guest team rennolds

    Hi Penny

    Please find below the response i got from the sa govt when i emailed them. We then chatted to our solicitor who said that she can witness us signing the form, we dont need to prove any of it to her, it's just a formality. She said its like swearing on the bible in court i.e you swear to tell the truth. I know some people have taken it to the bank or got a police officer to verify it.

    Dear Applicant

    The Financial capacity pro forma should include all assets/funds that you will have at your disposal for your living expenses when you migrate. Do not include funds that will be utilised for air fares, freight, insurance, etc. The amount gained through the sale of assets should be included in the Cash/Bank Savings.

    Hope it helps

    Mark

     

     

     

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    Guest team rennolds

    Financial Capacity

     

    Applicants must show that they have sufficient funds available to meet the initial costs of settlement.

    As a rough guide, applicants will require a minimum of $25,000 for a single applicant, with an additional AUD$5,000 for each additional family member.

    Composition

    Total funds

    Cash or savings component

    Main applicant only AUD$ 25,000 CASH AUD $ 10,000

    Main applicant plus one (1) family member AUD$ 30,000 CASH AUDS $ 10,000

    Main applicant plus two (2) family membersAUD$ 35,000 CASH AUD $ 10,000

    Main applicant plus three (3) family members AUD$ 40,000 CASH AUD$ 10,000

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    Guest harper210267

    Listening everyone about financial capability is making interesting.

     

    We will only have a small amount after the sale of our house, due to one thing or another but this will exceed $40,000 that's beside any cars or belongings sale.

     

    How much do you think an average family would need to live on, inc utility bills, food and so on, per month?

     

    Not forgetting we will need to buy cars over there...:unsure:

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    Guest covfan71
    Listening everyone about financial capability is making interesting.

     

    We will only have a small amount after the sale of our house, due to one thing or another but this will exceed $40,000 that's beside any cars or belongings sale.

     

    How much do you think an average family would need to live on, inc utility bills, food and so on, per month?

     

    Not forgetting we will need to buy cars over there...:unsure:

     

    Difficult question as each family is different. From my research and the figures i have got from other members of PIA, i have estimated that for a family of 4 is would cost around $3000 to rent and about $1200 if you own pcm. That includes everything from petrol, health utilities etc.

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