payslip paystub
Tax form

Importance of a payslip and the borrowing power


Whether you wanted a home loan, personal loan or car loan, the first thing that a lender would ask you to do is to provide them with your payslip. This is because the lenders need to know your current income information before they decide to lend out any money.

Through your payslip, your lender can see not only your income but also your employment status, employment type, the stability of your income. This information is essential to determine whether you are suitable for a loan or not.

What payslip is not acceptable?

Your lender will ask you to provide your two most recent payslips. When they’re assessing your payslip, they will at several details. If your payslip does not have the following information, it may not be acceptable for the lenders:

  • Your employer’s name
  • Your employer’s Australian Business Number (ABN)
  • Your gross year-to-date (YTD) income
  • Your net income
  • Any deductions, such as superannuation, salary packaging or HECS or HELP debt
  • Your annual leave to confirm you’re a full-time employee

What if you don’t have?

Many time employers don’t provide payslip to their workers. One of the reasons is because they are paid in cash. So, what can you do if you don’t have a payslip?

  • An accountant’s letter
  • A letter from your employer
  • Your most recent group certificate
  • Three months worth of bank statements
  • Your most recent tax return
  • Your Business Activity Statement (BAS) if you are self-employed

If you have any trouble with getting the above information, you can contact our partner company EndureGo at EndureGo is a CPA qualified tax accounting firm who offers total expertise in a comprehensive range of financial service.


When should I receive my one?

Paystub law also states that your employer must make your payslip available to you either on or before the day you’re getting paid. This will vary depending on the type of business you work for – some paydays will fall on the same day every month, while others pay every four weeks.

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