For sole traders with a turnover less than $75,000 who don't complete Business Activity Statements (BAS):
- The most recent year’s Australian Tax Office Notice of Assessment (NOA),
AND
- The most recent bank statements showing credits or deposits evidencing consistent trading income for the most recent:
- One month, where the most recent NOA is available; OR
- Three consecutive months, where only the year preceding the most recent NOA is available.
AND
- The most recent personal tax return
AND
- The most recent financial year's accountant prepared financials (Profit and Loss Statement and Balance Sheet) showing the last two consecutive years*.
* If accountant prepared financials are not available for sole traders, two years’ personal tax returns are required.
For sole traders (with a turnover greater than $75,000), partnerships, trusts, or companies:
- The most recent year’s Australian Tax Office Notice of Assessment (NOA) from each individual, director, or guarantor, involved in the transaction;
AND
- Personal and business (partnership, company, trust) tax return from the most recent financial year;
AND
- The most recent financial year's accountant prepared financials (Profit and Loss Statement and Balance Sheet) showing the last two consecutive years.
In addition to the above requirements the following is also required:
- Where the most recent financial year’s NOAs have been provided;
- The most recent one-month bank statement OR all BAS submitted for the current financial year^.
- Where the previous financial year’s NOAs have been provided;
- All BAS submitted for the most recent full financial year^, AND either;
- The most recent one-month bank statement OR all BAS submitted for the current financial year.
^ If the income derived from the most recent financial year’s BAS compared to the previous financial year’s tax return or the previous financial year’s financial statements is negatively impacted by more than 15%, then the most recent year’s accountant prepared financials or management accounts – including both the Profit & Loss and Balance Sheet – must be provided.