A well-organised self-employed application connects business performance with the applicant’s personal income and liabilities.
Common documents
Requirements vary, but lenders may request personal and business tax returns, notices of assessment, financial statements, BAS, business bank statements and evidence of current liabilities.
- Business financial statements
- Business and personal tax returns
- ATO notices of assessment
- Business activity statements
- Company or trust documents
- Business debt schedules
Income assessment methods differ
Some lenders average two years, use the lower figure, focus on the most recent year or apply conditions to income growth. Policy varies and context matters.
Explain material changes
New contracts, changed ownership, unusual expenses, one-off events or business restructuring may need evidence and a clear explanation.
Keep personal conduct clean
Personal and business account conduct, tax liabilities and other commitments can affect assessment. Avoid incomplete or inconsistent disclosure.
Common questions
Can one year of financials be enough?+
Some lenders may consider one year in eligible scenarios, but others require two years or additional evidence.
What if I have an ATO debt?+
It may affect eligibility. The amount, repayment arrangement, conduct and lender policy all matter.
This guide does not consider your objectives, financial situation or needs. Lending policies, government programs and thresholds can change. Obtain current credit, legal, tax or financial advice as appropriate.