The self-employed document checklist
Self-employed applications stall on paperwork far more often than on policy. This is what gets asked for, organised by which assessment route your file is taking, so you can gather it once rather than in three rounds of requests.
- Always required, whatever the route
- Photo identificationDriver licence and passport, or an accepted alternative combination, for every applicant.
- ABN and business registration detailsRegistration date matters, because some assessment routes require the ABN to have been held longer than the financials cover.
- Business bank statementsCommonly the last three to six months. Lenders read the trading pattern here, not just the balances.
- Personal bank statementsEveryday and savings accounts, usually three to six months. Living expenses are assessed against these rather than what you declare.
- Details of all debtsCredit card limits, car and personal loans, business facilities and any ATO payment arrangement.
- Full doc: two years of financials
- Two years of personal tax returnsWith the notices of assessment, which lenders use to confirm the returns were actually lodged.
- Two years of business financial statementsProfit and loss and balance sheet, prepared by your accountant.
- Two years of business tax returnsFor the company, trust or partnership, with notices of assessment where applicable.
- Trust deed or company documentsWhere the business trades through a structure, so the lender can see who controls and benefits from it.
- One-year assessment
- One full year of financials and tax returnsPlus the notice of assessment. Some lenders accept this where the ABN has been held longer.
- Current year BASTo evidence trading has continued at a similar level since the financials were prepared.
- Accountant letterConfirming trading history, ownership percentage and any add-backs. Template and what it should say.
- Alt doc route
- Accountant declaration or income declarationYour declared income, supported by your accountant. Most lenders provide their own form.
- Four quarters of BASUsed as a plausibility check against declared income rather than to calculate it. How BAS is read.
- Six to twelve months of business bank statementsSupporting the turnover the BAS reports.
- Evidence of GST registrationWhere applicable, usually alongside the BAS.
- For the purchase or refinance itself
- Contract of saleOnce you have exchanged, provided immediately so the valuation can be ordered.
- Evidence of depositSavings history, or a gift letter and transfer trail, or asset sale documents.
- Current loan statementsFor a refinance, usually the last six months on the loan being replaced.
- Rates notice and insuranceFor a refinance or where you already own property.
Requirements differ by lender and by product, and some lenders issue their own forms which must be used instead of a general template. This is a preparation list, not a definitive requirement for any particular application.
Not sure which route your file should take?
Full doc, one year and alt doc are priced differently. Charles can tell you which your file actually needs before you gather anything.
Self-employed document questions
How many years of financials do I need?
Two is the conventional requirement, but a number of lenders assess on one year where the ABN has been held longer and the rest of the file is strong. Where the paperwork lags a genuinely strong business, alt-doc routes exist at higher pricing. Which applies is a lender-selection question rather than a fixed rule.
Do I need my tax returns lodged?
Generally yes, and lenders confirm lodgement through the notice of assessment. An unlodged return raises questions and limits the options. The better question is what goes into it, because choices about depreciation and drawings affect the assessable figure, which is a conversation to have before lodgement.
What if I have an ATO payment plan?
Disclose it. It is a commitment and lenders will find it in your statements anyway, so discovering it late is far worse than declaring it early. Some lenders will work with a payment arrangement that is being met; others will not, which again comes down to placement.
Why do lenders want my personal bank statements?
To assess living expenses against what actually happens rather than what is declared, and to verify the income arriving matches the financials. It is standard for every borrower, not a self-employed-specific check.
Can I apply before my current financials are ready?
Sometimes, using the previous year plus current BAS, or through an alt-doc route. It depends on how far into the year you are and how different the current trading looks. Worth a conversation before you push your accountant to rush a set of accounts.
Related guides and tools
General information only, not credit or financial advice. Lender requirements and government scheme criteria differ and change over time; your position is confirmed in a full assessment.
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