Quick answer
You can often be assessed for a business loan without your latest tax returns. Unsecured options are commonly sized on bank statements, and property-secured options focus on the property and how the loan will be repaid. Lenders may accept BAS, an accountant's letter or management accounts instead. Being behind on lodgements isn't automatically a problem, but you should say so and have a plan to catch up.
Key points
- Bank statements often do the job that tax returns would otherwise do.
- BAS, management accounts or an accountant's letter can fill the gap.
- Property security can reduce how much financial paperwork is needed.
- Unlodged returns are worth mentioning early, with a catch-up plan.
- Individual return due (self-lodging)
- 31 October
- Copies of past returns online
- From 2010 onwards
Plenty of good businesses are behind on their tax returns. The accountant is busy, the year got away from you, or you’re newer than a full financial year. Then a need for finance comes along and the question arrives: “Can I even apply without them?”
Often, yes. Here’s how it works.
Why don’t all business loans need tax returns?
Tax returns show a full year of income and profit, but they’re a look backwards, sometimes well over a year old by the time they’re lodged. For many small business loans, lenders get a more current picture elsewhere:
- Bank statements show what’s actually happening now: money in, money out, existing repayments. Unsecured and cash-flow options are commonly sized on turnover and bank statements.
- Property security changes the focus. With a property-secured loan, the lender leans on the property’s value and a clear plan for repaying, so full financials may be less critical.
That’s why “no tax returns” doesn’t automatically mean “no loan”.
What can I provide instead?
| Instead of… | You might provide… | Best when… |
|---|---|---|
| Latest tax return | Recent business bank statements | Turnover runs through the account clearly |
| Tax return and financial statements | Lodged BAS for recent quarters | You’re GST registered and up to date on BAS |
| Profit and loss statement | Management accounts from Xero, MYOB or similar | Your bookkeeping is reconciled |
| Full financials | An accountant’s letter confirming key figures | Your accountant knows the business well |
| Trading history | Property details and a repayment plan | You’re borrowing against property |
Which combination works depends on the amount, the option and the lender. Our page on accountant’s letters explains what a useful letter includes, and BAS for a business loan covers the BAS side.
Does being behind on lodgements count against me?
It’s one factor, not a verdict. A lender will want to understand:
- how far behind you are (one year reads differently from four),
- why (a new business, a bookkeeper change, illness, a busy growth period),
- what’s being done about it (an accountant engaged, a lodgement timetable),
- whether there’s tax owing once returns are lodged.
For reference, the ATO says the due date to lodge your own individual return is 31 October. If you use a registered tax agent, different lodgement dates can apply through the agent’s lodgement schedule.
The key is not to hide it. Unlodged returns tend to come up anyway, and an honest explanation early is far better than a late surprise. You can mention it in your enquiry and we’ll work out which options suit.
What if I just can’t find returns I lodged years ago?
That’s the easy one. According to the ATO:
- Individuals and sole traders can view and print lodged returns and notices of assessment from 2010 onwards through myGov.
- Companies, trusts and partnerships can do the same through Online services for business, plus lodged activity statements from July 2000 onwards.
- Older documents can be requested using the ATO’s copies of tax documents request form.
Our guide to getting copies of tax returns, NOAs and BAS has the step-by-step.
How do I make a no-tax-return application smooth?
- Reconcile your bookkeeping. If your software matches your bank, management accounts become credible. See our weekend books tidy-up.
- Lodge any outstanding BAS first. Recent BAS are often the best bridge.
- Ask your accountant for a timetable. A line saying “2025 return to be lodged by [month]” helps.
- Keep bank statements clean and complete. They’re doing extra work in your application.
- Be accurate about turnover. Match what your statements show, not what you hope next year looks like.
Which option suits a business without recent returns?
Broadly, there are two paths, and your situation usually points to one:
- Unsecured or cash-flow options, typically $5,000 to $500,000, sized on turnover and bank statements. These suit trading businesses whose statements tell a clear story.
- Property-secured options, from $20,000 to $5,000,000, where the property and a clear repayment plan carry more of the weight. These can suit larger amounts or businesses with patchier paperwork.
A quick look at what paperwork you really need shows how the document lists differ between the two, and our paperwork checklist builder will tailor it for you.
Illustrative example: a growing e-commerce store
Illustrative only; no real business named.
An online homewares store has grown quickly and its last two company returns haven’t been lodged, though every BAS is up to date. The director needs $90k for stock ahead of the peak season. She enquires, mentions the unlodged returns, and explains her accountant is finishing them. The option discussed relies on twelve months of bank statements, recent BAS and a short accountant’s letter, with the returns to follow once lodged.
Ask first, paperwork second
Being behind on tax returns shouldn’t stop you asking what’s possible. Our enquiry takes about 60 seconds, has no credit check when you first enquire, and keeps your details with our own lending team rather than scattering them across lenders. A real person calls to talk through which documents would work for your situation, in plain English.
Please be upfront on the form about which returns are outstanding and any tax owing. Accurate answers mean the option we suggest won’t unravel later.
Frequently asked questions
Why would a lender not need my tax returns?
For many small business loans, bank statements already show real turnover and costs. When a loan is secured by property, the lender relies more on the property and the repayment plan. In both cases, full tax returns may not be essential.
What can I give instead of tax returns?
Common alternatives are recent business bank statements, lodged BAS, management accounts from your bookkeeping software, and a letter from your accountant confirming key figures.
I'm a few years behind on lodgements. Can I still borrow?
Possibly, depending on the option and the rest of the picture. Tell us how far behind you are and whether your accountant is working on it. A realistic catch-up plan helps a lot.
Where can I find copies of returns I've already lodged?
The ATO lets individuals and sole traders view lodged returns and notices of assessment from 2010 onwards in myGov, and businesses do the same in Online services for business.
Is a no-tax-return loan more expensive?
Every loan is priced on the individual situation, so there's no single answer. The amount of paperwork is only one factor alongside security, trading history, credit and purpose.