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Self-employed and low doc

Income from a business, read the way it is really earned.

Updated

Sole traders, contractors, company directors, partners and trust beneficiaries get assessed on tax returns, add-backs, activity statements and bank statements, and every lender reads them differently. One counts the last year, another averages two; one adds back depreciation, another does not. Where the financials are not ready, alternative-documentation and low doc options may be available with some lenders. We work out which lender reads your position best, before the application is written.

Start a self-employed review How we assess

Short assessment to begin. No documents at this stage, no credit check. Low doc is never no assessment, and it is never an approval in advance.

The evidence a self-employed borrower can give, and what stays the same A standard lending form shown as a single grey bar asking for two years of payslips. Below it, the evidence a lender will accept instead: full financials beside alternative evidence such as BAS, an accountant declaration and bank statements. Below that, what does not change: full assessment, responsible lending and documentation. WHAT A STANDARD FORM ASKS FOR Two years of payslips from an employer a business does not produce them THE EVIDENCE A LENDER WILL ACCEPT Full financials Alternative evidence different evidence, not a lighter assessment Tax returnsBASAccountant letterBank statements WHAT DOES NOT CHANGE Full assessmenton every fileResponsible lendingapplies throughoutDocumentedand checked low doc means different evidence, never no assessment The evidence a self-employed borrower can give, and what stays the same WHAT A STANDARD FORM ASKS FOR Two years of payslips EVIDENCE ACCEPTED Full financials Alternative Tax returnsBASAccountant letterBank statements WHAT DOES NOT CHANGE Assessmentevery fileResponsiblethroughoutRecordedand checked different evidence, never no assessment
The evidence a self-employed borrower can give, and what stays the same
2010Established
$1B+Lending settled
50+Lenders through our lender and aggregator network
PremiumBroker status with leading banks
5.0From 196 Google reviews

At a glance

Who it is for
Sole traders, contractors, company directors, partners and anyone whose income comes from a trust or a business
Full doc
Two years of tax returns and financials give the widest lender choice and usually the best terms
Alternative and low doc
Activity statements, business bank statements and an accountant’s confirmation may support a loan with some lenders, subject to purpose, product and lender requirements
What does not change
Full assessment, responsible lending and documentation apply to every application
Credit assistance
Dayan Kasturiratna, Australian Credit Representative 394747, under Australian Finance Group Ltd, ACL 389087
What we arrange

Four positions, assessed on how the business really earns.

Home, investment and refinance for people paid by a business rather than a payslip. Different lenders, different rules for reading the same figures, one question first: which lender counts your income the way you actually earn it.

A small business owner reviewing financial statements with an accountant across a desk01

Full-doc self-employed loans

Two years of tax returns and financial statements, read with the add-backs each lender allows: depreciation, one-off expenses, interest on debt being refinanced, and a director’s salary. The widest lender choice and usually the best terms.

Begin A newly established contractor at a laptop with a first-year tax return02

One year of financials

A business that has become profitable recently, or changed structure, may have one strong year rather than two. Some lenders will assess on one year of returns with an activity-statement trend behind it; we work out which.

Begin Business activity statements and bank statements laid out on a workshop bench03

Alternative-doc and low doc

Where the financials are not ready, business activity statements, business bank statements and an accountant’s confirmation may support a loan with some lenders, subject to purpose, product and lender requirements. Fewer lenders, not less assessment.

Begin A family business owner at a kitchen table with a trust distribution statement and a laptop04

Company, trust and partnership income

Income that arrives as a director’s salary plus distributions, a trust distribution, or a partnership share, with retained profits in the entity. Assessed on which entity earns it, who owns the entity and how much the lender will count.

Begin

Low-documentation options may be available, subject to purpose, product and lender requirements. Low doc is never no assessment, and it is never an approval in advance. Where the National Credit Code applies, it applies, and we assess and document accordingly.

How we assess

Income, structure and evidence.

Three things decide a self-employed application: how much of the business’s income the lender will count, which entity earns it and who owns that entity, and what evidence is available to show it. The lender is chosen after those three are mapped, not before.

A renovated brick home in a Melbourne suburb with a work vehicle in the driveway

Full-doc and one-year positions: what is assessed

  1. The last two years of personal and business tax returns and financial statements, or one year where the lender allows it
  2. Add-backs the lender accepts: depreciation, one-off expenses, interest on debt being refinanced, superannuation above the minimum
  3. Whether the lender averages the two years, takes the lower, or takes the latest with a cap on growth
  4. Which entity earns the income, who owns it, and whether retained profits can be counted
  5. Existing business debt, guarantees and tax liabilities, and their effect on capacity
  6. Serviceability at the assessed rate and after a rate rise
A small workshop interior with a workbench, tools and morning light

Alternative-doc and low doc positions: what is assessed

  1. The purpose of the loan and whether a low-documentation product suits it
  2. Business activity statements, usually twelve months, and whether turnover supports the income declared
  3. Business bank statements and what the deposits show
  4. An accountant’s confirmation of the income, where the lender requires one
  5. Loan to value ratio, which is usually lower for low doc, and whether lenders’ mortgage insurance applies
  6. How long the business has traded and how long the ABN and GST registration have been in place
Illustrative scenarios

Three self-employed positions, assessed the way a lender would.

Hypothetical positions with rounded figures, built to show how the assessment works. None is a client result, approval, quote or promise.

Illustrative scenario

Two years of returns, read three ways

Position
Electrical contractor, company, six years trading
Year one net profit plus salary
~$145,000
Year two
~$190,000
Add-backs available
Depreciation, one-off vehicle cost
Lender A reads
Average of two years
Lender B reads
Latest year, growth capped
Lender C reads
Lower year only
Outcome considered
Lender chosen after the map

The difference between the readings is not a trick; each lender has a policy and applies it. The work is knowing which policy suits the position before the application is written, so it is written once.

Illustrative photograph of a weatherboard family home in a Melbourne suburb Illustrative image Illustrative scenario

Two years of returns, read three ways

Same figures, three answers.

Illustrative scenario

Refinance with the financials not yet prepared

Position
Café owner, sole trader, four years trading
Home loan to refinance
~$620,000
Property value
~$1.05m
Financial year
Not yet closed
Evidence
12 months of BAS, bank statements
Accountant confirmation
Available
Loan to value
~59%
Outcome considered
Alternative-doc facility, some lenders

Alternative-documentation lending exists for exactly this position and is useful. It narrows the lenders and can change the cost; it does not remove the assessment. Where the full financials will be ready within months, waiting can be the better answer, and we say so.

Illustrative photograph of a small suburban shopfront with a residential flat above Illustrative image Illustrative scenario

Refinance with the financials not yet prepared

Fewer lenders, not less assessment.

Illustrative scenario

A director who leaves most of the profit in the company

Position
Director and sole shareholder, company, nine years trading
Company profit before the director's salary
~$320,000
Salary drawn
~$120,000
Retained in the company
~$200,000
Lender A reads
Salary only, the retained profit does not count
Lender B reads
Salary plus the retained profit, because the director owns it all
Purchase
Home, ~$1.5m, 20% deposit
Outcome considered
The lender whose policy reads the accounts

It is the same money on the same accounts. The figures are stated before the director’s salary, so salary and retained profit together are the $320,000 and are not added twice. What differs is whether a lender’s policy attributes retained company profit to a sole shareholder, and that decides the borrowing capacity before anything else is looked at. The accountant’s reconciliation, and whether the profit is sustainable, come first.

Illustrative photograph of a renovated Californian bungalow with a deep front garden Illustrative image Illustrative scenario

A director who leaves most of the profit in the company

Company profit, read by the right lender.

Illustrative scenarios. Figures are hypothetical and rounded. These are not client results, approvals, quotes or promises. Lender policies for self-employed and low-documentation lending vary and change. Finance remains subject to lender assessment, valuation, documentation and applicable law.

How it works

Four steps, and nothing lodged until you agree.

01

Tell us how you are paid

A short assessment: business structure, how long you have traded, where the financials are up to, what you are doing and timing. No documents, no credit check.

02

We map income and evidence

With your agreement, we gather the returns, statements and activity statements, work out how each lender would read them, and settle which documentation path suits you, before anyone else sees it.

03

We take it to the right lender

Major bank, specialist or non-bank, chosen for your structure, evidence and purpose, across our lender and aggregator network. Costs and conditions set out in writing.

04

You decide, then we lodge

Nothing is lodged until you have seen the terms and agreed. If waiting for the financials gives you a better loan, we say so.

In most cases we are paid commission by the lender on settlement, and our Credit Guide sets out how that works and what you are entitled to know. Where a fee would apply to any part of the work, we tell you in writing first.

What we will ask for at step two

  • Personal and business tax returns and financial statements for the last two years, where available
  • Notices of assessment and any tax debt arrangements
  • Business activity statements, usually the last twelve months
  • Business and personal bank statements
  • Entity documents: company, trust or partnership, and who owns what
  • For low doc: an accountant’s confirmation of income where the lender requires one

What we will not do

  • Present low doc as no assessment, or any structure as an approval before assessment
  • Describe a loan as unregulated because the purpose is business or investment
  • Quote a capacity figure as if it were an approval
  • Lodge the same application with several lenders to see which one says yes
Who you will deal with

One person, from the first conversation.

Self-employed and low doc files sit with Dayan Kasturiratna, a chartered tax adviser as well as a finance specialist, who provides the credit assistance on every file.

Dayan Kasturiratna, Founder and Director of Opulent Finance, seated in a Melbourne boardroom

Dayan Kasturiratna

FIPA FFA CTA

Founder and Director. Chartered tax adviser and finance specialist. Australian Credit Representative 394747, under Australian Finance Group Ltd, ACL 389087.

Established Opulent Finance in 2010. Self-employed income is the most misread income in lending, and reading it well is as much a tax question as a lending one. The work is showing the lender the business the way the accounts really show it, and choosing the lender that reads it that way.

Mobile0423 272 600 Office1300 001 551
dayan@opulentfinance.com.au
WINNER · 2026Best Solo OperatorAFG Broker AwardsWINNER · 2025 · VIC/TASBest Finance Brokerage (Office)The Adviser Better Business AwardsOpulent Finance
Premium Broker statusWith leading banks
Established 2010Melbourne finance brokers
Burwood, Victoria22 Harker Street

Credit assistance is provided by Dayan Kasturiratna, Australian Credit Representative 394747, authorised under Australian Finance Group Ltd, Australian Credit Licence 389087.

Google reviews

What clients say about working with us.

5.0196 Google reviews
Dayan and the team were approachable and knowledgeable, and always willing to help.Bich Thuy Nguyen on Google
Both were warm and friendly and always available.Melanie Georgiou on Google
I highly recommend Dayan and Lihini for their honest, professional, and reliable service.Varuni Wickramasinghe on Google

Where these reviews come from, and the rest of what clients say

Questions

Before you start.

How many years of financials do I need?

Most lenders ask for two years of tax returns and financial statements. Some will assess on one year where the business has changed structure or become profitable recently, usually with an activity-statement trend behind it. Where the financials are not ready, alternative-documentation and low doc options may be available with some lenders. Two years opens the most lenders; less narrows the field but does not close it.

What is an add-back?

An expense the lender adds back to the business’s net profit because it is not a cash cost or will not continue: depreciation, one-off expenses, interest on debt that is being refinanced, and superannuation contributions above the minimum are the common ones. Add-backs are lender-specific; the same set of accounts can produce different assessable income at different lenders.

What is low doc, and is it the same as no doc?

No. Low-documentation lending replaces full financial statements with other evidence: activity statements, business bank statements and an accountant’s confirmation. It is still a full credit assessment with responsible lending obligations, usually at a lower loan to value ratio and with fewer lenders. No doc lending, where nothing is verified, is not something we arrange for regulated loans. Low doc is never no assessment, and never an approval in advance.

I pay myself a small salary and leave profit in the company. Does that count?

Often, with the right lender. Some lenders assess a director’s salary plus the company’s net profit after tax, where the director owns the company; others count only what was distributed. Retained profits in a trust are treated differently again. Which entity earns the income and who owns it decides the reading, and we map that before the application is written.

Does an enquiry affect my credit score?

No. The assessment and our review involve no credit enquiry. A credit check only occurs if you decide to proceed with an application, and we tell you before it happens.

I have a tax debt. Can I still get a loan?

Sometimes. A tax debt on a payment arrangement is treated as a liability and reduces capacity; an undisclosed or overdue debt is a much bigger problem, and some lenders decline on it. Refinancing to clear a tax debt is possible with some lenders and is assessed on purpose and capacity. Tell us early; it changes which lenders we look at, and it is never something to leave out of an application.

Further reading

Articles on self-employed lending.

Longer reads from our archive, written for business owners rather than lenders.

ArticleSelf-employed home loans made simpleRead ArticleFive reasons a business uses a commercial brokerRead ArticleWhat to know before applying for a commercial loanRead ArticleSecuring the right finance for your businessRead ArticleCommercial property loans in Melbourne: a strategic guideRead
Ready when you are

Tell us how you are paid. We will tell you which lender reads it best.

Short assessment. No documents at this stage, no credit check. Contact at the time and by the method you choose.

Start a self-employed review How we assess

Where self-employed lending connects with business finance.

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