Resident return visa is for people whose permanent residency has ceased after 5 years of visa grant. In order to be eligible to apply for this visa you must be:

• an Australian permanent resident or
• a former Australian permanent resident whose last permanent visa was not cancelled or 
• a former Australian citizen who lost or renounced Australian citizenship

You must residence requirements:

You can be given 5 years travel facility if you meet the followings:

• Must be lawfully present in Australia for a total of at least 2 years in the 5 years immediately before lodging the application for the visa
• Must have substantial and beneficial business, cultural, employment or personal ties to Australia
• Have been absent from Australia for more than five years, you must also have compelling reasons for your absence.

You can be given 12 months travel facility if you meet one of the followings:

You are outside Australia:

• If you hold a permanent visa or last left Australia as a permanent resident or citizen and have not been absent for 5 continuous years or more before the date of your RRV application (unless you have compelling reasons) and can show substantial ties to Australia that are of benefit to Australia
• if you have not been absent for period of 5 years (unless you have compelling reasons) and was an Australian citizen or permanent resident for less than 10 years before you applied for RRV

You are in Australia:

• If you are able to show substantial ties to Australia that are of benefit to Australia and not been absent for 5 continuous years since grant of your most recent permanent visa or when you stopped being an Australian citizen (unless you have compelling reasons) 
• If you are the member of family unit of a person who already holds an RRV or has lodged a separate application for an RRV, and meets the time of application criteria for grant

Subclass 157 is for people who can not meet above resident requirements. You might be able to apply for this visa if you have been present in Australia for at least 1 day within the last 5 years as the holder of a permanent residency visa, and you have compelling reasons that caused your last departure from Australia.  You need to demonstrate compelling reasons for your current/recent absence from Australia. A 3 month travel facility can be given. You must show substantial ties to Australia that are of benefit to Australia 

Substantial Ties can be Employment ties, Business ties, Personal ties or Cultural ties.