NRAS Application Guide.
STEP 2 - Income Evidence
The most common question that we get asked is “what is income?”
For the purposes of your application, you should consider all deposits made into your bank account and any amounts of cash given to you as income.
Below is a list of some of the most common income sources with examples of the documents that need to be supplied.
Your assessment period will cover the past 12 months from the date of your application.
For example, if the date today is 25th June 2022 then your assessment period will be from 26th June 2021 to 25th June 2022.
BANK STATEMENTS - Mandatory for all applicants
Must cover the full 12 month period of your assessment. Note that some banks will allow you to generate a letter showing transactions for specific time periods
If you regularly transfer money between accounts (eg. from savings to spending) we may request copies of statements from savings accounts to confirm that the deposits do not form part of your income.
Without bank statements, we are unable to proceed with processing your application.
CENTRELINK - Click here for examples
Centrelink Income Statement
12 Month Statement of Payments
EMPLOYMENT - Click here for examples
ATO Income Statement (for the current tax year as well as the previous tax year)
3 x Most recent Payslips
NB: If your payslips do not show a “YTD” (year-to-date) figure you will need to supply all payslips for the 12 month period.
SELF-EMPLOYMENT
A letter from your Tax Accountant stating the NET business income earned for the 12 month income period; OR
BAS Statements showing the NET business income earned AND a full personal Tax Return from the most recent financial year
CHILD SUPPORT
Evidence of payments received - this can be through a letter from Centrelink or screenshots.
NO INCOME
A statutory declaration must be completed.
If your income source is not listed above, feel free to send us an email at enquiries@waltersco.com.au for clarification on what evidence to provide.