Base income – 2 payslips (max 60 days old) only required where base income used for servicing (Payment Summary also required if LVR is >80%.) OR 3 months bank statement showing a regular salary credit, with the name of the employer.
Shift / Overtime Income – 80% considered if evidenced over 12 months and expected to be a regular component of a borrower’s salary (all industries).
Allowances (PAYG income) – 80% of allowances are considered however they must not exceed 25% of the applicant’s salary income.
Bonus / Commission – Can be consider up to 80% if evidenced as follows:
Rental incomes assessed at 65% of current or anticipated amount. Acceptable evidence is:
Up to 100% of depreciation will be used, however where related to the replacement cost of an “essential asset that assists in the generation of business income”, the depreciation percentage that can be used will be determined on a case-by-case basis.