A principal software engineer whose pay arrives as salary, allowance, bonus and US-dollar employer shares wanted a fully assessed pre-approval on a $2.1m home. We had the share income agreed with the lender before lodging.
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A principal software engineer with more than 4.5 years at his employer, promoted from a senior role earlier in the year with a $22,400 pay rise.
He has focused on saving and investing: over $610,000 in cash, around $915,000 in managed funds and around $990,000 in shares. He budgets carefully and wanted his first offer on a home backed by a pre-approval he could rely on.
Only about 63% of his package is base salary. The rest arrives as an annual bonus and as employer shares that vest in US dollars, income that only counts toward borrowing power if the lender's credit team agrees how to treat it.
His payslips added a second issue. Because the promotion came part-way through the year, his annualised year-to-date income sat below his current base wage.
| Income source | Annual amount | Issue for a lender |
|---|---|---|
| Base salary | $203,200 | Year-to-date income understates it after a $22,400 pay rise |
| Remote work allowance | $600 | — |
| Annual bonus | $38,780 | Paid once a year |
| Vested employer shares (655 units) | US$58,340 | Paid in US dollars, value moves with the share price |
| Metric | Figure |
|---|---|
| Outcome | Fully assessed pre-approval |
| Loan amount | $1,460,000 |
| Property value | $2,100,000 |
| LVR | 69.52% |
| Rate | 6.14% variable |
| Loan term | 30 years |
| Features | Multiple offset accounts, extra repayments without penalty |
| Income accepted for servicing | $286,633 |
The 655 units that vested in 2025 came to US$58,340. The lender discounted that as foreign income, converted it to Australian dollars and discounted it again as investment income, accepting $44,053. With the bonus also counted, his assessable income is $82,833 higher than base salary and allowance alone, an uplift of 40.6%.
| Income line | Accepted for servicing |
|---|---|
| Base salary | $203,200.08 |
| Remote work allowance | $600.00 |
| Annual bonus | $38,780.00 |
| Vested employer shares, after lender discounting | $44,053.39 |
| Total income relied on | $286,633.47 |
| Uplift over base salary and allowance | $82,833.39 |
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