When self-employed, lenders analyse your self-employed financial information to determine your suitability for the loan. Your Tax Returns will be reviewed to determine your profits in the business, all your business expenses and your cashflow. Usually, the last 2 years of financials are assessed.

What do you do when your accountant has not prepared and submitted your tax information to the ATO?

We cannot avoid the requirement of providing tax returns if we apply through a major bank or second tier bank. There is something called a lo doc loan offered by smaller lenders, which as the name suggests is a loan where you are only required to provide minimal documentation.

Here are the benefits of a lo doc loan