Low documentation (Low Doc) loans and alternative documentation (Alt Doc) loans cater to who may struggle to meet the stringent documentation standards of conventional loans. These loans are particularly suitable for self-employed individuals, freelancers, or those with fluctuating income who find it difficult to provide typical income verification. A common myth about Low Doc Loans is that they require less income documentation than traditional loans. In reality, they allow for different forms of income verification. These loans are for individuals who have been in business for under two years, experience seasonal or inconsistent income, receive income from multiple sources, such as part-time jobs, investments, rental, or business ventures, have recently changed industries or transitioned between full-time employment and self-employment. To be eligible for a Low Doc Loan, self-employed borrowers may need to supply - Proof of ABN and/or GST registration - Business Activity Statements (BAS) - Business account transaction statements - A letter from their accountant - Personal tax returns.