Self-employed lending
One year of tax returns: how we assess self-employed income
Most self-employed Australians don’t have two years of perfect financials. Here is what we look at instead, and the documents we accept.
2 min read
Most self-employed Australians don’t have two years of perfect financials. You might be a builder with projects in progress, a medical professional trading under an ABN, or a business owner whose income moves across trusts and companies.
Before FinSecure, too many self-employed Australians were turned away by major banks because they were assessed like PAYG employees. Builders, contractors, medical professionals, and small business owners missed opportunities due to criteria that did not suit their reality. We created FinSecure to close that gap.
Experience, not automated scoring
While major banks rely on automated scoring models and rigid policy manuals, we rely on experience. We make our own credit decisions, with no computer scoring: just experienced credit specialists who understand complex income.
Our team takes the time to understand your real financial position. We do not automatically dismiss borrowers who lack two years of perfect financials.
The documents we accept
We accept one year tax returns, BAS statements, and accountant declarations. For our residential loans, the verification required depends on the option:
- Full doc, self-employed: 2 years tax return, 2 years financials and 2 years NOA.
- Full doc, alternate option: with an ABN of more than 2 years, more than 1 year GST registered and a credit score above 700, 1 year tax returns and financials with an accountant letter or NOA.
- Alt doc: a self-employed income declaration form plus an accountant letter, BAS or business bank statements.
That’s the difference between a computer saying “no” and a specialist asking, “How can we make this work?”
Looking at the full picture
We look beyond the standard checklist to understand the full picture, including your business performance, BAS statements, accountant declarations, assets, and future plans. Because great lending decisions aren’t made from a spreadsheet alone.
Self-employed professionals, including medical practitioners and contractors, often have income that varies, so we assess real performance instead of relying on rigid averages.
General information only. This information does not take into account your objectives, financial situation or needs and is not financial advice. Lending is subject to lender eligibility, assessment and approval criteria, terms and conditions, fees and charges. Not all applicants or purposes will qualify.
