Can I Get Finance While Self-Employed?

Self-employed borrowers can secure finance even without two years of fully audited tax returns. Lenders recognise that sole traders, partners, and company directors often structure their income differently than PAYG employees. To qualify, you generally need an active Australian Business Number (ABN) registered for GST for a minimum period—typically six to twelve months depending on the asset type and lender.

For low doc loans, lenders rely on alternative documentation to verify serviceability rather than traditional tax notices. You can demonstrate your repayment ability using recent Business Activity Statements (BAS), six months of business bank statements, or a formal declaration signed by a qualified accountant confirming your turnover and net profitability.

Your credit file, overall loan-to-value ratio (LVR), and business stability also play critical roles in the assessment. Maintaining a clean credit history and providing a larger deposit can offset risk for specialist lenders, potentially helping you secure better comparison rates and avoid additional risk fees.

Navigating self-employed lending policies across different Australian institutions can be complex due to varying low doc criteria. A Lonix broker can evaluate your business profile, compare suitable options across a wide panel of lenders, and correctly structure the loan to maximise your approval prospects.