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Self-Employed6 min read
Self-Employed Home Loans: How Brokers Get You Approved
Sole traders, contractors and SMSF buyers — here's how Australian brokers package self-employed income to get loans approved.
Banks default to a lazy formula: take your last two years of tax returns, average them, and lend on that figure. For self-employed Australians, this often understates true earning capacity by 20–40%. The right broker knows which lenders look beyond that formula.
Documents you'll need
- Last 2 years of personal and business tax returns (where available).
- Last 2 years of company financials (P&L and balance sheet).
- Most recent BAS statements.
- Business bank statements (3–6 months).
- ABN active for at least 12–24 months (some lenders accept 6 months).
Three lender 'lanes' for self-employed buyers
- Full-doc — two years of returns; sharpest rates, strictest assessment.
- One-year doc — only one tax return needed; small premium on rate.
- Alt-doc / low-doc — BAS or accountant's letter only; rate premium 0.30–1.00%, but available where full-doc isn't.
How we strengthen your application
- Add back items the ATO penalises but lenders accept (depreciation, one-off expenses, owner wages reinvested).
- Choose a lender that accepts your industry's typical income volatility.
- Time the application to land just after your strongest BAS quarter.
SMSF property purchases
Self-Managed Super Fund loans are a specialist niche — only a handful of lenders write them, and the structure (LRBA / bare trust) must be perfect. We work with the SMSF specialists daily.
