AUSTRALIA is an immigrant country. That has been the case since 1788. One in every two Australians are either from overseas themselves or has a parent who is from overseas. 

You and your family live in Australia, but your parents do not. And as your children grow up, having their grandparents around would mean just the world to you. 

So did you know that Australia has a Sponsored Parent (Temporary) Visa (subclass 870) that began in April 2019? This visa provides overseas-based parents to be with their children and grandchildren in Australia. 

The application fee is $5,000 for a visa of up to three years and $10,000 for up to five years. Strangely, this fee is unclear as to whether it is for one parent or two. 

Unlike other parent visas, the 870 visa does not require the parent to meet the Balance of Family test (see https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/contributory-aged-parent-864/balance-of-family-test). It also does not lead to Australian permanent residency 

For further information, consult your immigration agent.