I have a non-O extension which does not require insurance. If I don't renew it or if I leave without a re-entry permit, I don't have a Visa when I return. Are you saying that with a non OA you get another year without renewing it by simply leaving and returning as long as you have insurance?
do a border bounce for what? Your Visa expires at the end of February. You will need to renew it before you go to Australia and get a re-entry permit to get back in on the new visa.
when you return from Australia if you want to stay long term you will need a visa. So why let the old one lapse and have to go through the whole process again?
Renew it for another year which you can do up to 45 days before expiry and get a re-entry permit which you can use to get back in when you return from Australia.
