Loans: ANZ take only one year tax notice assesment, is this true?
- Thread starter hpe
- Start date
Someone posted earlier that ANZ (when applying for construction loans/home loans) only take 1 year for notice of tax assessment if you're self employed. is this true?
If you take out a joint app, they need just 1 year (latest) of both individuals?
Do they need any other paperwork?
Tax rtns and financial statements end to end , rather than just NOA.
Westpac will rely on NOA for 2 previous years if the loan app fits their Fasttrack Policy
ta
rolf
Do you have your ann registered for at least 2 years? If not what is the line of work?
Someone posted earlier that ANZ (when applying for construction loans/home loans) only take 1 year for notice of tax assessment if you're self employed. is this true?
If you take out a joint app, they need just 1 year (latest) of both individuals?
Do they need any other paperwork?
Yes 1 years Full tax return
As Rolf mentioned, westpac under their fastrack feature can accept 2 NOA with no tax returns if that's more suitable.
My broker has said the same thing to me recently (I am currently with ANZ). He always uses ANZ for self employed people due to only needing the previous tax return but doesn't recommend them for anyone else.
No it is full doc.
Thanks guys.
On the website it requests business tax return, P&L and Balance Sheet - do many sole traders provide this? Might have to give them a call.
Self employed
1 year Individual Tax Return and accompanying ATO assessment notices
and;
1 year Business Tax Return, Profit and Loss Statement, and Balance Sheet.
cheers.
On the website it requests business tax return, P&L and Balance Sheet - do many sole traders provide this? Might have to give them a call.
Self employed
1 year Individual Tax Return and accompanying ATO assessment notices
and;
1 year Business Tax Return, Profit and Loss Statement, and Balance Sheet.
cheers.
As a ST your personal rtnswill contain your summary business data.
Whoever does your rtns will be doing them from your profit and loss statement and can do these quite quickly for you.
tar
rolf
P & L and Balance Sheet are not mandatory for sole trader. Not everyone has them prepared. You just need to declare your business liability eg hire purchase etc upfront
Not everyone gets approved for loans either.
If credit chases for a simple document, one tends not to argue with them, especially where you are using a lender that has a a deep niche which isnt easily replaced by another lender
ta
rolf
And the very fact that this simple document is probably the heart of a business. What sort of business owner doesn't regularly track how their business is going?
pinkboy
Ones who live hand to mouth and use every dollar earned as drawings
You mean a 'glorified job'?
pinkboy
