Why Choosing the Wrong Accountant Could Be Killing Your Business (and Your Loan Options)
Let’s be blunt, too many self-employed Australians are getting stitched up by their accountants.
Not because their accountant is evil… but because they’re lazy, outdated, or don’t actually understand how lenders look at your numbers.
If you’re self-employed, your accountant can either set you up for financial freedom or quietly ruin your chances of ever getting approved for a decent home or investment loan.
Here’s the harsh truth:
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Some accountants brag about “minimising tax” but don’t care that they’ve just made your income look tiny on paper.
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They bury your profits under “expenses” that make sense for tax, but destroy your borrowing power.
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They don’t communicate with your broker. They don’t ask what your goals are. They just file numbers and move on.
Then you rock up to the bank, thinking you’re killing it in business, and the lender sees a low-income, high-expense operator with no serviceability.
It’s not the bank’s fault. It’s your accountant’s lack of strategy.
A good accountant should:
✅ Understand how lenders interpret your financials
✅ Help structure your income smartly — not just cheaply
✅ Work alongside your mortgage broker to build a complete financial story
✅ Balance tax strategy with borrowing capacity
So if your accountant hasn’t asked, “Do you plan to buy a property or invest soon?you might have the wrong one.
The right accountant doesn’t just file BAS statements.
They build wealth strategies.
They think ahead.
And they make your numbers make sense, for both the ATO and the bank.
Because as a self-employed person, your accountant isn’t just doing your tax return, they’re shaping your future.
So ask yourself:
Is your accountant helping you build wealth, or just helping you hide it?
