I don't know how that works. My friend has only been here about
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months. I understand his plan is to get the free second year, and to return to Australia for a few months during this time, and then to repeat the process. If you have been denied insurance you would be best to contact your own embassy and consulate to enquire as to their procedure. The guidelines do say in the event of a denial the procedure of the embassy and consulate will be followed. It's no secret that embassies and consulates often "do their own thing" which doesn't always follow Immigration, as they are completely separate ministries under different ministers
Correct - it's embassy specific, like most MFA directives. Australia allows assets in home country. You would need to check with your own embassy or consulate as to their conditions
If an applicant is declined insurance they can instead show equivalent amount (US$100,000) in assets (property, shares, savings etc) in lieu of insurance.
At this point it's totally true. Any sound advice is from April 1st the entry stamp reverts to 30 days because this date has been published. It may (or may not) be extended but that's a "fingers crossed" strategy, and be that at your own peril!
You can if you're extending the non-O obtained in Australia, but not if you're converting from visa exempt or tourist visa. And you still need to show 12 x 65k transfers