Subclass 485 Skilled Graduate & Subclass 487 Skilled Regional Sponsored Visas
These 2 visas make up the Skilled Provisional Class VC. The Sched 1 criterion for these visas is that the applicant is aged less that 45 unless one holds one of the regional sponsored temporary skilled visas & has nominated a 50 point skilled occupation list job.
The prerequisite visas are either a student visa (held in the 6 months prior to application), if not a recent student a 476 or 485, a working holiday 417 visa, a 442 occupational trainee visa or various regional temporary skilled visas. The 485 is a one off visa for those who held student visas.
The 485 stops the clock ticking for those approaching 45 for the permanent residence skilled visas 885 & 886. At time of application must have applied for a skill assessment which must have been received as favourable by time of decision.
And the requirement to have completed the relevant course within 6 months of application will not apply at the permanent residence stage if applying for the onshore 885 & 886 visas.
The subclass 487 is the onshore equivalent of the 475 sponsored visa except that a 50 point or above occupation must be nominated. It is a 3 or 4 year visa depending on what the earlier visa path was.
 Sched 1, para 1229(4), (5), (6), (7) & (8).
 Reg 485.212
 Reg 485.214 & 485.221
 Reg 487.511.