Can I get a home loan with a 1-year ABN?

The three routes with one year of ABN

• One-year full doc: a single lodged tax return and notice of assessment, usually with the same-industry test applied to your prior PAYG role.
• Alt-doc / low-doc: business bank statements or BAS plus an accountant's or your own income declaration, priced above prime.
• GST-registered turnover assessment: a small number of lenders derive income from declared turnover with an industry expense ratio.

What lenders are really testing

The concern is not that you are self-employed — it is that your income has no track record through a downturn. That is why prior experience in the same industry carries so much weight: a plumber who worked for a plumbing business for six years and now has their own ABN is a much shorter leap than a career change into a new trade.

• Continuity of industry between your PAYG history and your ABN.
• Whether income is trending up or down between BAS periods.
• Add-backs available in the return: depreciation, one-off expenses, interest on debts being refinanced, and superannuation above the minimum.
• Whether the business is a sole trader, company or trust — company and trust structures need financials, not just a return.

Add-backs are where the money is

Self-employed borrowers routinely under-borrow because nobody adds back the non-cash and one-off items in their return. Depreciation, a one-off equipment write-off, additional superannuation contributions and interest on debt that is being repaid at settlement can all lift assessable income materially — often turning a marginal file into a comfortable one without changing a dollar of actual earnings.

How XLOANS helps with this scenario

We check the policy before an application is lodged, not after. That means confirming with the lender's own guidelines that your situation fits — tenure, income treatment, credit file, deposit source — so the enquiry on your file is one that has a genuine chance of approval.

Our service costs you $0. We are paid an ongoing commission by the lender for as long as your loan stays with them, which is why reviewing your loan later matters to us as much as settling it now.