What info can banks access during loans checks?

[asdfghjkl]

When applying for my last loan the bank queried a few things.

1) Previous checks on credit history.

2) Haven't submitted last years tax return.

This lead me to a few questions.

1) Can the banks see what came about from previous credit history checks, or can they just see a credit check was done, and by which financial institution but not whether it lead to a loan or not?

2) Do they cross reference with the ATO to ensure the amounts on the tax returns submitted match up with the ATOs or do they only have the powers to see if the return has been submitted?

Cheers

 

[Rixter]

The banks/lenders leave their mark as having looked at your credit file and for what reason.

I

 

[Rolf Latham]

Hiya

CRAA file, get a copy of your own

www.mycreditfile.com.au

Banks and ATO..............nah, while the ATO has pwoer to access the bank info, im not aware that it goes the other way round .................banks are smart in other ways though depending on what they want to find out.

ta
rolf

 

[Mofra]

As a lender, I can category state we do not have access to ATO records.
Unsure which other systems banks & NBLs use, but we use Veda & can only tell when Pty Ltd companies have not completed a tax return - no access to personal data such as this.

 

[Cales405]

When applying for my last loan the bank queried a few things.

1) Previous checks on credit history.

2) Haven't submitted last years tax return.

This lead me to a few questions.

1) Can the banks see what came about from previous credit history checks, or can they just see a credit check was done, and by which financial institution but not whether it lead to a loan or not?

2) Do they cross reference with the ATO to ensure the amounts on the tax returns submitted match up with the ATOs or do they only have the powers to see if the return has been submitted?

Cheers

Are you self employed? Perhaps the bank rang your accountant to confirm income if you are s/e or if you have earnt any income under an ABN.

Nothing to do with ATO comes up on your credit file unless they have defaulted you for not paying your tax bill.