An Australian permanent resident is the term used to define a non-citizen who is the holder of a permanent visa. A permanent resident can live, work and study without restriction in Australia. An Australian PR holder citizen has an automatic right of entry to Australia. If he intends to travel outside Australia then he needs to ensure they have a permanent visa with a valid travel authority if they wish to return to Australia as a permanent resident. The Australia PR entitles the eligibility for social security benefits. The visa enables the PR holder to be eligible for health insurance as defined by the Health Insurance Act 1973. The Australian State government manages the school system within their state, by providing funds and regulation for their schools. Under the Higher Education Support Act 2003, the PR holders can access the Higher Education Loans Program and the associated discount for up-front payments.

The major benefits of Australian Permanent Residency Visa.

Partial Freedom & Security:

Travel in and out of the country all you want for the length of your visa (usually 5 years). Even if it has expired, you can remain in the country indefinitely but can’t travel out. In case you still want to travel you need to have a Resident Return Visa.

Work for anyone in any industry for unlimited hours a day ( Exception: Australian Public Service and Defence Forces jobs and those under an employer sponsorship visa)
Sponsor relatives to migrate into Australia.
Travel to New Zealand without a visa.

Health & Social:

Entitlement to Medicare and cheaper health insurance.
Assistance from ( 2 years of waiting period after PR, with some exceptions) – provides social security payments and gives assistance to the unemployed, retirees, students, families, parents, people with disabilities, etc.

Education:

Same domestic tertiary education rates as Australian Citizens
Free primary and secondary education in government schools (especially NSW)

Citizenship:

Eligible to apply after meeting the requirements.
Children that are born in Australia are automatically citizens by birth
Being a new permanent resident entitles you to better credit ($) and terms for personal loans, home loans, car loans, etc.