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Lending Policy ChangeNews

2026 Policy Updates To Streamline Income Assessments

By Dresdain BalangueJanuary 23, 2026January 29th, 2026No Comments

Granite is making a few changes to our Standard and SMSF lending policies on 1 February 2026 to make income assessment and documentation even easier across client types.

Standard Lending


Minor Amendments Applying to Variable and PAYG Income

For Standard lending, there are some amendments to assessment and documentation relevant for casual employment, fixed term contracts, overtime and allowances and bonuses and commissions, as well as an update that applies to PAYG borrowers.

Casual and fixed term contract
Income will be annualised and assessed using 90% of the gross annual income. 

 

Overtime and allowances
Eligible occupations
  • If on our eligible applications list, 100% of annualised year-to-date overtime and allowances accepted if income is evidenced from the most recent payslip; or
  • 100% actual income accepted if evidenced from most recent financial year ATO income statement or year-to-date figure on June payslip from most recent financial year.
Other occupations 
  • 100% of annualised year-to-date overtime and allowances income evidenced from most recent payslip accepted if most recent payslip has minimum three months’ income, capped at 120% of previous years’ overtime and allowances income; or
  • 100% actual income accepted if evidenced from most recent financial year ATO income statement or year-to-date figure on June payslip from most recent financial year.

 

Bonuses and commissions
  • 100% of actual year-to-date bonuses and commissions income evidenced from the most recent payslip (not annualised); or
  • 100% of the actual bonuses and commissions income evidenced from the most recent financial year ATO income statement; or
  • 100% of the actual bonuses and commissions income evidenced from the year-to-date figure on a June payslip from the most recent financial year.

 

What about PAYG income?
  • Two consecutive payslips required to confirm income and employment, with the most recent payslip being no more than 60 days old on receipt by Granite; and
  • Six weeks bank statements from a financial institution in the name of the employee showing regular salary credits from the employer, with the most recent salary credit on the statement being no more than 60 days old on receipt by Granite.

 

Note:

  • Maximum loan terms where the oldest applicant is over 55 will now be calculated by capping the term at 85 less the age of the oldest applicant.
  • Serviceability calculators have been updated to allow the employment type to be selected when entering the applicant’s PAYG income.

SMSF Lending


Updates to Assessment and Documentation of Contributions

For SMSFs, we’re making assessment and documentation flexible and straightforward.

PAYG Members

Superannuation Guarantee (SG) and Additional Contributions
100% of contributions are accepted based on a minimum three months evidenced from any of the following:
  • The most recent ATO Income Statement; or
  • The SMSF Cash Management Account statements covering a twelve (12) month period with the statements no more than 90 days old on receipt by Granite; or
  • The annual Industry Super Fund statement and a recent account summary or transaction listing where the Industry Fund statement is greater than 90 days old on receipt by Origin MMS; or
  • Two consecutive payslips with most recent no more than 60 days old on receipt by Granite; or
  • An interim ATO Income Statement (excluding July to September each financial year)

 

Note:

Year-to-date (YTD) SG or Additional contributions evidenced in the provided payslips or interim ATO income statement can be annualised provided that the YTD figure covers a minimum of three months in the current financial year.

If the two consecutive payslips or the interim ATO Income Statement are from Q1 of the current financial year (July–September) or lack YTD figures, another document listed above is needed

Proposed Contributions for PAYG members
Proposed contributions up to a maximum of 10% of the PAYG member’s gross annual income, less any additional contributions already being made, evidenced from any of:
  • The most recent ATO Income Statement; or
  • Two consecutive payslips with the most recent no more than 60 days old on receipt by Origin MMS; or
  • An interim ATO Income Statement.

 

Self-Employed Members

Regular Superannuation Contributions
100% of super contributions are accepted when evidenced from any of the following:
  • SMSF Cash Management Account statements covering a twelve (12) month period with the statements no more than 90 days old on receipt by Origin MMS; or
  • Annual Industry Super Fund statement and a recent account summary or transaction listing where the Industry Fund statement is greater than 90 days old on receipt by Origin MMS.

 

Additional and Proposed Contributions
100% accepted up to a maximum of 10% of earned income for Sole Trader or Partnerships or 10% of NPBT for Companies as follows:
Sole Trader or Partnership
  • 10% of earned income evidenced from the member’s personal tax return (excluding capital gains and rental income) and corresponding notice of assessment; or
Company
  • 10% of NPBT of the most recent financial year (can addback depreciation and salary drawings) from their primary trading entity evidenced from business financial statements.

 

Important note on Proposed Contributions for SMSFs 

For both PAYG and Self-Employed members: 

  • Proposed contributions are not acceptable where the member’s comprehensive credit report highlights any failure to meet existing repayment obligations or if DTI ratio is greater than 6:1.