The Finance Algorithm

Document Checklist Generator

The documents a lender will ask for, for how you're employed

Updated October 2026Built and checked by MaverickHow it's calculatedReport an error

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Document checklist: Full-time PAYG

Required docs

8

must-have

Optional / nice-to-have

6

strengthens app

Total items

14

any lender

Visa status

Australian Citizen

determines extras

Document count by category

Identity, income, and liabilities are the heaviest blocks for most applicants.

3Identity3Income3Liabilities2Living expenses3Property
Identity, 3 items
Passport or birth certificate
Primary photo ID: worth 70 points.
Required
Driver's licence
Secondary ID: 40 points (front + back).
Required
Medicare card
Useful third document for VOI.
Optional
Income, 3 items
Recent payslips
Usually the latest two or three, showing year-to-date income, employer name and ABN.
Required
PAYG Payment Summary or YTD letter
Annual summary or employer-issued letter confirming YTD.
Required
Bank statements showing salary credits (3 months)
Lenders verify salary by matching credits to payslips.
Required
Liabilities, 3 items
Statements for existing loans
Home loans, car loans, personal loans and HELP/HECS debt.
Required
Credit card statements (last 3 months)
Limits and balances for every card you hold.
Required
BNPL / Afterpay / Zip transaction list
Lenders ask about buy now pay later accounts and can see them on your credit report; declare them even if you pay on time.
Optional
Living expenses, 2 items
3 months of transaction account statements
Lenders use these to verify monthly living expenses (HEM).
Required
Recent utility / phone bill
Confirms residential address.
Optional
Property, 3 items
Contract of sale (if purchasing)
Provide once you've signed; the lender will order valuation.
Optional
Council rates notice (refinance)
Required when refinancing: proves ownership and address.
Optional
Insurance certificate of currency
Building insurance must be in place before settlement.
Optional
8 required + 6 optional documents
For a full-time payg applicant (australian citizen), plan on 8 documents most lenders ask for plus 6 that can help. Each lender sets how recent payslips and statements must be, so check before you upload. Clear PDFs are easier to verify than phone photos, and your name should match across ID, payslips and bank statements.

How it works

Lenders ask for documents that prove who you are, what you earn, what you owe and what you spend. The list grows with self-employment, bonuses, rental income or a visa. This tool builds a checklist from your employment type, income and visa status, and the AI adds anything your chosen lender publishes, so you're prepared before you apply.

  1. 1Select your employment type
  2. 2Choose income components that apply
  3. 3Select preferred lender if known
  4. 4Get your document checklist

Worked examples

PAYG Full-Time Employee

Sarah works at a corporate job, base salary plus quarterly bonuses.

Employment type
Full-time PAYG
Preferred lender (if known)
Not sure yet
Visa status
Australian Citizen

Sarah needs ID, recent payslips, a year-to-date income summary, three months of statements showing her salary going in, and statements for any cards and loans. Ticking Bonuses adds payslips or income statements showing the bonuses are regular, which lenders often check over one to two years.

Self-Employed Sole Trader

Mike runs a landscaping business, 4 years established.

Employment type
Self-employed (sole trader)
Preferred lender (if known)
Not sure yet
Visa status
Australian Citizen

Mike needs his last two personal tax returns and ATO notices of assessment, and six months of business bank statements. BAS summaries and a letter from his accountant can help, and some lenders require the letter.

Questions people ask

How recent do my documents need to be?
Each lender sets its own limits, so check with yours. Payslips and bank statements should be the most recent ones you have, and ID documents must be current (not expired).
What if I can't find a document?
For payslips, ask your HR or check your employee portal. For bank statements, download from online banking. For ATO documents, use myGov to access your ATO account.

The terms, in plain English

ATO NOA (Notice of Assessment)
An official letter from the ATO confirming your taxable income and any refund/debt for a financial year. Essential for self-employed applicants.
100 Points ID
A scoring system for identity verification. Primary documents (passport, birth certificate) score more than secondary (license, Medicare card).
VOI (Verification of Identity)
The process lenders use to confirm you are who you say you are - online, in a branch, or through a service such as Australia Post's.

Official sources

Check Your Borrowing Power

See how much you can borrow with your documented income.

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See if you're eligible for any assistance programs.