I note Westpac have, in concert with a few other chagnes, limited equity release for Lo Doc to $10K except in the case of a purchase.
Westpac Lo Doc
- Thread starter Token Funder
- Start date
Don't worry - only just the other day Westpac were telling us that the local branch manager could fix anything! (Sic) 
What about the -
* 12 MONTHS BAS STATEMENTS (from ATO portal) REQUIRED REGARDLESS OF LVR
* SUPPORTING DOCUMENTATION REQUIRED TO SHOW ABN HAS BEEN REGISTERED 2 YEARS (read letter from your accountant).
Just the thing if you registered for BAS yourself and have been sending in those manual BAS statements.
If your at the accountants getting your letters and your BAS Statments you just about may as well get your return done the way it look now.
What about the -
* 12 MONTHS BAS STATEMENTS (from ATO portal) REQUIRED REGARDLESS OF LVR
* SUPPORTING DOCUMENTATION REQUIRED TO SHOW ABN HAS BEEN REGISTERED 2 YEARS (read letter from your accountant).
Just the thing if you registered for BAS yourself and have been sending in those manual BAS statements.
If your at the accountants getting your letters and your BAS Statments you just about may as well get your return done the way it look now.
getting your accountant to forward you the tax portal BAS statement is as easy as 1,2, 10.
The latest round of changes by wbc and others have no real effect in any case.
Very very few people bother with a lo doc where the hoops are so high that you may as well do it on full doc.
ta
rolf
Very very few people bother with a lo doc where the hoops are so high that you may as well do it on full doc.
ta
rolf
Agree, if you have to provide BAS statements to show support of the income you have stated, then may as well get yoru financials done and pay a cheaper rate.
The cash out component has been restricted for a fair while now, it has always been a curious argument ( situation ) where a line of credit has been done as a lo-doc.
Once the LOC is established, you can use the funds for any purpose, but as a standard loan you can't have funds out? Strange policies exist sometimes.
The cash out component has been restricted for a fair while now, it has always been a curious argument ( situation ) where a line of credit has been done as a lo-doc.
Once the LOC is established, you can use the funds for any purpose, but as a standard loan you can't have funds out? Strange policies exist sometimes.
