Business Activity Statements (BAS)

Evidencing business activity through BASIf you are currently self-employed, in order to obtain a low doc loan, some lenders require you to provide them with a Business Activity Statement (BAS). This evidences the tax that you pay to the Australian Tax Office (ATO) which outlines your taxation liabilities.

How do lenders assess BAS?

Typically, lenders will look at 12 months turnover. As long as the income you declare is less that 40% of the total turnover for that year, they will generally accept such income.

For some industries where the profit involves a higher percentage of the turnover e.g. service industries, than they may accept a higher percentage than 40%.

Use our BAS Calculator to find out how some of the major banks will assess your income.

Does every lender require BAS?

No! Not every lender requires BAS. See our No BAS section to find out alternate ways of verifying your income.

Or alternatively,expert today to find out how you can get approval!