BAS Income Calculator

BAS details

BAS Statement Income Calculator
Obtain the figures from your last 12 months BAS & enter them in this calculator to see how three different lenders would assess your income for a low doc home loan.
  • BAS Period
  • Quarter 1
  • Quarter 2
  • Quarter 3
  • Quarter 4
  • G1 ?
  • $
  • $
  • $
  • $
  • G11 ?
  • $
  • $
  • $
  • $
  • W1 ?
  • $
  • $
  • $
  • $

Contact a mortgage broker

Talk to one of our mortgage brokers about your situation: Yes  No  

How do lenders assess BAS Statements?

The vast majority of lenders add up the “G1” figure (total sales) for the last four quarters and then include 40% of this figure in their assessment or the income that you have declared, whichever is lower.

Some lenders use 50% of the total sales or use a different percentage, depending on which industry your business is in.

One of our lenders has a slightly more in depth analysis and deducts the costs & wage expenses to calculate a more accurate figure of your income.

If some of your wages were paid to you as the director/owner of a business, then this lender may consider adding this wage expense back.

Lenders also look at whether you have made a loss in any particular quarter, in order to see if your income fluctuates significantly.

In such cases, some lenders may request evidence that you have paid your GST instalment.


Low doc loans with BAS

Did you know that there are lenders that do not require BAS for a low doc loan? There are a range of income verification methods you can choose from, depending on which documents you can provide.

Please refer to our low doc loans section for more information.


Apply for a mortgage

Our mortgage brokers are experts in low doc mortgages and can quickly work out which lenders you may qualify with. They can then give you a range of loan products to choose from.

Please call us on 1300 889 743 or enquire online if you would like to get in touch with a mortgage broker.

  • Katherine

    Can we take the average of the 2 BAS statements or use the most recent one?

  • Hi Katherine,

    Lenders have different policy with these. Most would average the net income across your BAS statements while some would accept the recent one as well.

  • Malek

    How easy is it to secure finance for a property in a category 2 location?

  • Hey Malek,

    A category 2 location is generally considered to be low to medium risk. So it shouldn’t be very difficult to secure finance for a property on this location unless you have other credit issues or your situation is complex.

  • Wynn

    What if I have a large difference between some of my BAS figures?

  • The lenders do not look at large variances between quarterly BAS total sales favourably. Often a good explanation must be provided for the variances to be accepted.

  • Vickie R

    Can you give me some tips on helping reduce my credit card spending?

  • Hi Vickie,
    Well the first step here is to pay off your credit card debt and other small debts. Some people may find that they are in debt before they start saving, so avoid that situation by quickly paying these debts off. You should also reduce the amount of credit cards you use. This way it can also help when you are applying for a loan as some lenders will take these cards into account when they calculate how much you can borrow, regardless of whether they are being used or not. Credit cards are also taken into account when calculating how much you can borrow for a house. By taking precautions with your credit cards, you can greatly improve your borrowing power.

  • Jerry

    Are chiropractors also eligible for doctor home loan discounts?

  • Hey Jerry,

    Yes, chiropractors can also qualify for doctor home loan discounts including no LMI home loans, discounted interest rates and higher exposure limits. Please check out the home loans for chiropractors if you want to learn more:
    https://www.homeloanexperts.com.au/unusual-employment-loans/home-loans-chiropractors/

  • Hawayen

    I am a psychologist and have my own practice in Darwin. I’m planning to buy an investment property in Brisbane as my real estate agent friends are saying that the city is in boom currently. However, I have not updated my tax files, and just have my BAS statements. Will the lenders accept this for a home loan?

  • Hi Hawayen,
    Most lenders require you to have your ABN and GST registered for a minimum of two years if you’re self-employed. Also, they would need your 12 months’ Business Activity Statements (BAS), however some of our lenders will consider your home loan application even if you only have one or two BAS to prove your income.

    Lenders generally require your four quarters’ BAS, while some may accept two or even one BAS. They’ll extrapolate your quarterly BAS income to calculate your annual business turnover and use 40% of it as your income. Please go through our page https://www.homeloanexperts.com.au/low-doc-loans/low-doc-with-bas/ to get an idea to calculate your income based on BAS.

  • arthur maheras

    hello,
    I’m a self employed electrician yrs who has been conditionally approved for a credit card pending a letter from my accountant, after reading through all the information on this great site, i’m a little concerned the letter she has written will not satisfy the banks requirements, as she is a family friends daughter only a year out of university. I am not informed enough to suggest additions. Would someone be so kind as to outline all the income details etc that the bank will need? This will possibly save me more paperwork, time, and worst case scenario a failed application. (it’s my first time)
    Thank you in advance