This Australian visa is for the parent of someone who is a permanent citizen of Australia at the time the visa as sent in for assessment. If your child is a permanent resident, said child should have at least two years of residency before this Australian visa can be given. However, the length of time required for a child's parents to be given this parent visa may be shortened under special and compelling circumstances.
When applying for this visa you can bring your partner and other family members who are considered dependents so long as they fulfil the legal requirements.
Sponsors have to provide written proof that they can support, accommodate and assist the parent for whom the visa is to be granted. They have to make sure that they can provide enough proof that they can do such things for their first 2 years in the country under the temporary visa.
Applicants need to show proof of their kids' eligibility to sponsor them and they are the ones to complete the application process with the use and presence of all supporting documents. However, just because the visa is good for two years doesn't mean parents who are handed the visa need to stay in the country for that amount of time. They are free to leave if pursuing a permanent visa is not on the cards for them.