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Lending Policy ChangeNews

2026 Policy Updates To Streamline Income Assessments

By Dresdain BalangueMarch 5, 2026No Comments

Granite has made a few changes to both our Standard and SMSF lending policies in the early part of 2026, to make income assessment and documentation even easier across your different client types.

Our changes to Standard Lending referred to below came into effect on 1 February 2026. Some changes to our SMSF policy also came into force on 1 February, while all changes to SMSF policy referred to below will be in effect from 9 March 2026.

Highlight: DTI test removed for SMSF proposed contribution assessments!

For applications submitted from 9 March, we’re removing our DTI test for proposed contributions. Read the new assessment details in the SMSF lending section below.

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.

Accepted SMSF contributions

Actual contributions
Granite will accept 100% of actual historic contributions based on a minimum three months evidence, using any of the following four verification methodologies:
  • 100% of the most recent financial years actual contributions; or
  • 100% of the last twelve-month period of actual contributions where the latest contribution is no more than 60 days old; or
  • 100% of the last three calendar months of regular actual contributions (where the latest contribution is no more than 60 days old). Granite will multiply the total contributions over this period by four to produce an annual amount for servicing.
  • 100% of the last three calendar months of irregular, lump sum or one-off contributions – these need to be excluded from the annualisation of regular contributions, and then added on top of the annualised figure.

 

The document options for each verification method are included in our comprehensive SMSF loan application checklist, available here.

Good to know

  • Contributions that occur at regular intervals, such as monthly or fortnightly, where the amount varies by less than 15%, can be treated as regular contributions.
  • For PAYG, irregular, lump sum or one-off contributions are capped at the annualised contributions calculated using the third method above.
Proposed contributions
Granite will use any of the following to assess proposed contributions:
  • Maximum of 10% of gross annual income from members; or
  • Maximum of 10% of the NPBT of the member’s primary trading entity (can addback depreciation and salary drawings).

 

DTI test removed for SMSF proposed contribution assessment

From 9 March, we’ll use the following to assess SMSF proposed contributions:

  • Our previously issued ‘Proposed Superannuation Contribution Declaration’ which is to be completed by the member’s accountant or financial planner;
  • Repayment History Information (RHI) of less than 3 over the past 12 months;
  • A minimum Equifax One score of 600.

For more information, view our SMSF loan application checklist here.

Important note:

  • Propose contributions now require a supporting ‘Proposed Superannuation Contribution Declaration’ form that needs to be completed by the member’s accountant or financial planner.
  • Where SMSF clients are using any proposed contributions as part of their serviceability assessment, a 0.25% interest rate loading will be added to their applicable base rate for deals submitted from 9 March 2026.