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Financial statements and paperwork for loan applications

Registered tax agent · Shepparton North, by appointment · Australia-wide by phone, WhatsApp and video · Updated October 2026

When you work for yourself, a lender cannot read your income off a payslip. It reads it off the documents your accountant prepares. SMT Accounting prepares that pack: current tax returns and notices of assessment, financial statements, interim accounts, reconciled BAS and cash-flow forecasts, then sends it securely to you or your broker.

On this page

Who needs accountant-prepared finance documents

  • Self-employed borrowers and sole traders applying for a home loan or refinancing.
  • Company directors whose income comes through wages, dividends and director loans, where the lender wants to see the company as well as the person.
  • Property investors with rental income across several entities.
  • Farm and orchard businesses applying for seasonal finance, land purchases or machinery, where income is lumpy and the lender wants the pattern explained.
  • Equipment and vehicle finance for tradies, transport operators and contractors, where financiers often want recent financials and BAS.
  • Business loans and overdrafts, where a business plan and cash-flow forecast usually sit beside the historical figures.

What lenders typically ask self-employed borrowers for

Every lender has its own checklist, and your broker will give you the exact one. The items below appear on the lists we checked in October 2026, including Westpac's self-employed home loan page and business.gov.au's guide to applying for a business loan:

  • The last two years' business and personal tax returns (sole traders usually only need personal returns).
  • The last two years' ATO notices of assessment.
  • The last two years' business financial statements (profit and loss and balance sheet).
  • Where a return is older, some lenders accept it together with 12 months of business activity statements.
  • For business lending, an up-to-date business plan and a cash-flow forecast.
  • The most current financial information available, including lodgments with the ATO being up to date.

Depending on the lender and the loan, you may also be asked for interim (year-to-date) accounts, ATO account statements showing no overdue debt, and bank statements. We prepare the accounting items; bank statements and identification come from you.

What SMT prepares

Returns and NOAs

Lodging any outstanding individual, company, trust or partnership returns so the two most recent years, and their notices of assessment, exist.

Financial statements

Profit and loss, balance sheet and notes for each entity, prepared from reconciled books and consistent with the lodged returns.

Interim accounts

Year-to-date management accounts from Xero, MYOB or QuickBooks when the lender wants figures more recent than 30 June.

BAS, reconciled

Activity statements that agree to the books and the ATO's records, with the bookkeeping brought up to date first if needed.

Cash-flow forecast

A 12-month cash-flow forecast with a stated assumptions page, and the financial sections of a business plan.

Factual confirmations

A letter confirming facts drawn from records we prepared: income for stated years, lodgment status, ownership and structure.

We also prepare an addback schedule where it helps the assessor read the figures: a one-page note identifying depreciation, interest, one-off expenses, superannuation above the compulsory rate and other items that appear in the accounts and explaining what each one is. It states facts from the accounts; it does not tell the lender what to add back or how to assess serviceability.

What we do not do, and why

We prepare and confirm the facts. The lender assesses the loan. SMT Accounting does not hold an Australian credit licence, so we do not give credit advice, recommend lenders or products, or help you choose a loan. ASIC's guidance is that anyone engaging in credit activities generally needs a credit licence or an authorisation from a licensee, and CPA Australia notes that an accountant's letter for consumer credit may amount to credit assistance under the National Credit Act. That work belongs with your licensed broker or bank.

We also do not sign "capacity to repay" declarations or letters stating that you can afford the loan, that your income will continue, or that an asset will be used predominantly for business. CPA Australia's guidance to its members is that they should not sign these letters because of the risk to the practitioner and the practice, and that the right way to support a client is with factually verifiable information: financial statements, profit and loss, cash flow and balance sheets. Our accountants are members of CPA Australia and the IPA and follow that guidance.

In practice this changes little for you: lenders assess serviceability from the documents, not from an accountant's opinion. We work with your broker or bank, not instead of them.

How it works

  1. Send us the lender's list. Forward the checklist from your broker or bank, or tell us the loan type and we will ask the right questions. We tell you which items we can prepare and what we need from you.
  2. We prepare. Outstanding returns are lodged, the books are reconciled, and the statements, interim accounts, forecast and any factual letter are drafted.
  3. You review. You see everything before it leaves our office. If a figure needs explaining, we add a note rather than leave the assessor guessing.
  4. We send it securely. With your written authority, we send the pack by secure file transfer to you or your nominated broker, and answer their factual questions about it.

Timing, and getting lodgments up to date first

Give us two weeks from the day we have your records and the lender's list. If your bookkeeping is current and your returns are lodged, it is often quicker. If a return still has to be prepared, allow for the ATO to issue the notice of assessment after lodgment; that part of the timeline is outside anyone's control, which is why we ask clients who are thinking about finance to tell us early.

Unlodged returns are the most common reason a self-employed application stalls. If you are behind, start with our overdue returns and tax debt service: we bring the lodgments up to date and, where there is a debt, get a payment arrangement in place so the ATO account presents cleanly.

Fees

We quote a fixed fee for the document set before starting, based on what the lender wants and how current your records are. Returns and financial statements already covered by your annual engagement are not charged again; interim accounts, forecasts, addback schedules and letters are priced as separate items. The first call is free and is where we scope the job. See our fees page for how we price.

General information only. This page describes an accounting service. It is not credit advice, financial product advice or a recommendation of any lender or loan, and nothing on it implies that any lender endorses our documents. Lender requirements change; your broker or bank will confirm what applies to you.
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Frequently asked

Can you write an accountant's letter for my home loan?

We can write a letter that confirms facts drawn from records we prepared: your trading income for stated years, that your returns have been lodged, your structure, and similar matters. We do not write letters that state you can afford a loan or that a loan will be used mainly for business. CPA Australia and the other professional bodies advise members not to sign capacity-to-repay letters, and an opinion on consumer credit can only be given by someone licensed under the National Credit Act.

My last tax return is not lodged yet. Can you still help?

Yes, and that is usually the first job. Lenders generally want the most recent returns and notices of assessment, so we bring your lodgments up to date first, then prepare the rest of the pack. See our overdue returns page for how that works.

How quickly can you turn the documents around?

Ask for two weeks from the day we have your records and the lender's list. If the bookkeeping is current and nothing needs lodging, it is often faster. If a return has to be prepared and lodged first, the ATO's processing time for the notice of assessment is outside our control.

Will you talk to my broker or bank directly?

Yes, once you have given us written authority to do so. We answer factual questions about the documents we prepared and send files to the person you nominate. We do not negotiate the loan or recommend lenders or products.

What does it cost?

A fixed fee quoted before we start, based on which documents the lender wants and the state of your records. Tax returns and financial statements that are already part of your annual engagement are not charged twice.

Sources

Lender asked for financials?

Forward us the checklist. We'll quote a fixed fee, prepare the pack and send it securely to you or your broker.

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