For $10 more:
PCPartPicker part list / Price breakdown by merchant
| Type | Item | Price |
|---|---|---|
| CPU | Intel Core i5-4460 3.2GHz Quad-Core Processor | $259.00 @ 1stWave Technologies |
| Motherboard | ASRock H97M Anniversary Micro ATX LGA1150 Motherboard | $125.00 @ 1stWave Technologies |
| Memory | Kingston 8GB (1 x 8GB) DDR3-1600 Memory | $102.00 @ 1stWave Technologies |
| Storage | Samsung 840 EVO 120GB 2.5" Solid State Drive | $109.00 @ 1stWave Technologies |
| Storage | Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive | $78.00 @ 1stWave Technologies |
| Video Card | Asus GeForce GTX 750 Ti 2GB Video Card | $228.85 @ PB Technologies |
| Case | NZXT Phantom 410 (White) ATX Mid Tower Case | $175.00 @ 1stWave Technologies |
| Power Supply | Corsair CX 500W 80+ Bronze Certified Semi-Modular ATX Power Supply | $109.99 @ Mighty Ape |
| Operating System | Microsoft Windows 8.1 (OEM) (64-bit) | $139.00 @ 1stWave Technologies |
| Total | ||
| Prices include shipping, taxes, and discounts when available | $1325.84 | |
| Generated by PCPartPicker 2015-01-14 22:17 NZDT+1300 |
Why:
Motherboard - This one is cheaper, and has more RAM slots for future upgrades.
Memory - Without using integrated graphics, dual channel offers no perceptible performance advantage, and just takes up extra ram slots that you could use to upgrade in the future.
Storage - Saving a little money on the motherboard, memory and power supply means you can have an SSD, which will probably have the largest impact on the overall performance of your computer.
Video Card - Went with a cheaper GTX 750 TI. These cards are basically all reference design with slight BIOS tweaks and marketing gimmick cooling to increase the price. The fact is most of these cards are good for 1400mhz core and 3000mhz ram, no matter what cooler they have or what stock clocks they come with. You can use my guide here for help with maximizing the potential of a 750 ti.
Case - You can go cheaper but I assume you like the aesthetics of this case and don't see anything wrong with it or anywhere else where the savings could be applied for more performance.
Power supply - Even with a GTX 980 a 500w power supply is fine. You don't need a 750w unless you're going to be doing crazy raid arrays or SLI/Crossfire which your motherboard doesn't support. I understand the urge to go big but 500w is overkill for this build, and 750w is power you'll probably never use.
Re: Win 8.1, you may be able to save some money by re-using a win7 license, going through your college to get a cheap/free one (see dreamspark, student MSDN), or using the Win 10 tech preview and waiting to see what happens when Win 10 comes to market. It may be free or significantly cheaper. I wouldn't spend 140 nzd on a Win 8.1 license right now.