Contractor Income Verification: Documents by Type

If you've already worked out whether you're a PAYG or ABN contractor, the next step is knowing exactly what to put in front of a lender. The two document sets are genuinely different, and gathering the wrong one wastes time you don't need to lose. Here's what's typically asked for.

Start with your category

Everything below splits by whether you're paid PAYG through an agency, or invoicing under your own ABN. If you're not sure which applies to you, it's worth a quick read of our guide on the difference before going further, the checklist you need depends on which category you fall into.

Documents for PAYG contractors

• Your most recent 2-3 payslips

• An employment or contract confirmation letter, from your agency or hiring business

• Recent bank statements showing the salary deposits, typically the last 3-6 months

• Sometimes: a PAYG income statement, if one exists yet for your current engagement. These only cover a full financial year, so a newer contract may not have one

• Sometimes: your most recent tax return, particularly if your current contract is new or your work history looks irregular

Documents for ABN contractors

• 1–2 years of tax returns

• Matching Notices of Assessment (NOAs) for those returns

• Recent business bank statements, typically the last 3-6 months

• ABN registration confirmation

• Sometimes: Contract of engagement with your client (if applicable)

• Sometimes: BAS statements, depending on the lender

• Sometimes: a letter from your accountant confirming you're trading profitably

Once you know what's being assessed, it's worth seeing how it translates into an actual borrowing figure using our borrowing capacity calculator.

Why gathering these early matters

Turning up with the right documents from the start means fewer follow-up requests, a faster overall process, and a stronger first impression with a lender. It's a small amount of upfront effort that avoids a lot of back-and-forth later.

What if you're newer to contracting?

Under two years of contracting history is a common worry, and a fair one. Policies here vary a lot between lenders, some are considerably more flexible than others, particularly if you can show a related employment history before you started contracting. There's no single rule that applies across the board, so this is worth a conversation about your specific situation rather than relying on a generic answer.