Hi,
I have a full time job and also running a side business. If my business made a loss of about $10K in each of the last 2 financial years, would the bank simply deduct one years loss of $10K from my PAYG income to calculate servicibility or would they deduct $20K (accumulated loss of past 2 Financial years) to calculate servicibility.
Thanks in advance for your answers.
John
I have a full time job and also running a side business. If my business made a loss of about $10K in each of the last 2 financial years, would the bank simply deduct one years loss of $10K from my PAYG income to calculate servicibility or would they deduct $20K (accumulated loss of past 2 Financial years) to calculate servicibility.
Thanks in advance for your answers.
John