Types of income we accept for servicing

We generally accept many types of income for servicing including PAYG, self-employed and rental income and other investment income types. For further detail, please refer to our Macquarie Residential Home Loans Credit guidelines.

Below we have provided additional information to answer some of the frequently asked questions related to types of income we accept for servicing.

100% of family allowance payments can generally be used in servicing if:  

• the family allowance income is not the sole/primary source of income, and 
• payments are verified through government issued statements, and 
• all dependants the allowance is being received for are under the age of 11 years. 

If any dependants are 11 years or older at the time of application, the family allowance can be apportioned to the amount received for those that are under 11 years old. 

We accept casual income for servicing, subject to the following conditions. 

To be eligible, your client:  

• Will need to have been in their role 6 months or more, with the same employer or in the same field or industry 
• Income will be determined by annualising the YTD income (which must cover the minimum 6-month period) 
• Where the YTD period is less than 6 months or missing payslips then the income level must be supported by the prior year’s ATO income statement (PAYG summary) or tax return. The lower of the payslip YTD annualised or prior year’s income will be used.  

For further information on Casual Income, refer to the Macquarie Residential Home Loans Credit guidelines or speak to your BDM.   

100% of the salary sacrifice amount can generally be added back to the gross income where your client is employed in public health, social work, or charity work. Where we are looking to include the salary sacrifice amounts in servicing, confirmation from your client that the amount is convertible to gross taxable income and is provided on a regular basis is required and must be evidenced by:  

• Payslips confirming details of the salary packaging arrangement and clearly displaying these pre-tax deduction items; and 
• A letter from their employer detailing the salary sacrifice amount/arrangement or copies of bank statements showing 3 months’ worth of credits into your client’s bank account. 

80% of bonus or commission income is generally allowable in our servicing calculation if the payments are consistent, ongoing and a condition of employment.  

All applications are subject to credit approval.  

For more information on the treatment of bonus or commission income, please refer to the Macquarie Residential Home Loans Credit guidelines.

We generally accept applicants who are on probation with their employer, subject to certain conditions.  

To be eligible, your client:  

• will need to have been in their role 6 months or more, or 
• if they’ve been with their current employer for less than 6 months, your client must have a minimum 12 months in the same field/industry. 

All applications are subject to credit approval. 

If your client has been with their current employer for less than 6 months, we’ll require them to have been employed in the same field or industry for the past 12 months.