Running a business today is not just about doing the work — it’s about managing everything around it.
From tax and compliance to wages, insurance and rising costs, many self-employed Australians are under pressure to keep everything moving while still trying to grow and make a living.
For accountants, this is something you see every day in your clients’ numbers.
For business owners, it shows up in cashflow, stress and uncertainty around what to do next.
The good news?
There are more finance options available than most people realise — especially for self-employed clients — if you look at the right time.
It’s rarely just one issue
We’re working with more self-employed clients (and their accountants) who are dealing with a mix of:
- ATO tax debt or ongoing payment plans
- cashflow pressure
- multiple debts across personal and business
- needing vehicles, equipment or working capital
- wanting to grow but unsure how to fund it
- uncertainty around borrowing due to self-employed income
Most are not doing anything wrong — they just haven’t had a chance to step back and explore their options properly.
Finance options for self-employed clients (and their accountants to consider)
1. Tax Debt Consolidation (ATO Debt)
ATO debt is becoming more expensive and harder to manage over time.
Options may include:
- consolidating tax debt into a business or personal loan
- refinancing a home loan to clear ATO debt
- restructuring multiple debts into one manageable repayment
For accountants, this can be an important strategy to help clients reduce pressure, improve cashflow and regain control.
It feels like the safer option.
2. Refinance Your Home Loan for Business Purposes
Many self-employed clients are sitting on equity without realising they can use it.
Options may include:
- refinancing a home loan
- accessing equity
- using funds for business purposes (including debt consolidation or reinvestment)
This is often a lower-cost and more structured option, depending on the client’s situation.
3. Business Loans for Cashflow or Growth
Business lending can be used for:
- working capital
- managing short-term pressure
- consolidating debts
- funding growth opportunities
For accountants, this can support clients who are profitable but experiencing timing and cashflow gaps.
4. Asset Finance (Vehicles, Equipment and Machinery)
Instead of using cash or increasing pressure on working capital, asset finance allows businesses to fund:
- cars, utes and vans
- equipment and machinery
- tools and business assets
This helps:
- preserve cashflow
- align repayments with business use
- support growth without overextending
Self-employed lending is becoming more flexible than many think
A common misconception is that self-employed clients need two years of perfect financials — and that any ATO debt rules them out completely for a half way decent interest rate.
In reality, we are seeing:
- more and more lenders opening up and becoming increasingly flexible with their policies
- growth in low doc and alt doc lending options
- some lenders accepting 1 year of financials instead of two
- lenders becoming more accommodating around different income types and structures
- lenders willing to consider ATO payment arrangements, provided the overall scenario is strong and serviceability works
The key is making sure everything fits together properly — income, debts, repayment capacity and the overall story behind the application.
For both business owners and accountants, this means it’s always worth asking the question before assuming no options exist.
Final thoughts
For self-employed clients, financial pressure is often not caused by one issue — it’s the accumulation of multiple moving parts.
For accountants, this creates an opportunity to guide clients beyond compliance and into proactive tax planning.
And for business owners, it comes down to one simple step: Don’t wait until things become urgent to explore your options.
We are here to help. www.whitestar.com.au or call: Ph: 1300 652 842
Talk to WhiteStar Finance & Conveyancing to explore your options, improve your finances, or plan your next steps with confidence.
FAQ’S
Q) Can I get a loan if I have ATO Tax Debt?
A) Yes, in many cases you can still obtain finance even if you have ATO tax debt. Some lenders will consider your application if you have a formal ATO payment arrangement in place, and the overall scenario (income, repayments and conduct) meets their criteria. In some situations, finance can also be used to consolidate and clear ATO debt, which may reduce ongoing interest and improve cashflow.
Q) Can I refinance my home loan to use funds for my business?
A) Yes, many self-employed clients refinance their home loan to access equity for business purposes. This can be used for: clearing tax debt, consolidating other debts , funding business growth, purchasing equipment or assets. Because home loans are typically lower cost than unsecured lending, this can be a more structured and cost-effective option, depending on your situation. Not all lenders like the funds purpose to be for business but many do.
Q) Do I need two years of financials to get a self-employed loan?
A) Not always. While some lenders still require two years, others now accept: 1 year of financials, some accept alternative or low doc income verification and some accept different types of income depending on your industry and structure. This is why it’s important to review your options, as lender policies can vary significantly. Its is a great idea to chat with a broker while your returns are in DRAFT in case a small amendment can make the difference.
Q) Can I get finance to buy a car or equipment for my business?
A) Yes — this is where asset finance comes in. You can finance: vehicles (cars, utes, vans), machinery and equipment , tools and business assets. This allows you to: preserve cashflow, spread the cost over time, potentially align repayments with business income
Q) When is the best time to apply for finance if I’m self-employed?
A) Timing can make a big difference. Sometimes, a good time to explore options is before your tax returns are lodged, as this allows:
- assessment using draft financials
- planning around income and deductions
- a clearer strategy before figures are finalised in case some changes can be made to assist the application structure.
Once financials are lodged, your position is more fixed, and some options may become limited.
