Turn Bonus, Commission and RSUs Into a Green Square Apartment

Using bonus, commission and RSU income to buy a Green Square apartment is possible if your variable income is consistent, well‑documented and passes lenders’ stress tests, including the APRA‑required 3% serviceability buffer. The key is turning lumpy employer rewards into something banks see as reliable, while you avoid over‑stretching in a high‑density, inner‑south market.

In practice, that means 1–2 years of history, sensible averaging and a clear cashflow plan that still works if bonuses shrink.

Documenting bonus, commission and RSU income is the first step to real borrowing power.

1. How banks actually treat bonus, commission and RSU income

1.1 The basic rules

Most lenders will count variable income if:

1. You can show a track record (usually 1–2 years).
2. It appears on your payslips and ATO documents.
3. It isn’t obviously “one‑off” (sign‑on bonus, relocation, redundancy).

Typical treatment (illustrative only):

• Bonuses: average last 1–2 years, then use 60–80% of that figure.
• Commission: average 6–24 months; heavy shading if earnings jump around.
• RSUs: usually only vested and regularly sold‑down RSUs counted; unvested stock often ignored.

1.2 Comparison: how different income types are viewed

*Indicative only. Each lender’s policy differs.

If you’re also paid through a company, trust or partnership, the lender will want to see those financials as well. That overlaps with how we handle entity income in /insights/company-trust-partnership-income-green-square-purchase-guide.

2. Turning lumpy income into borrowing power for Green Square

2.1 Document everything the banks care about

Pull these together before you talk to a broker or agent:

• Last 3–6 months of payslips.
• Latest PAYG payment summary / income statement.
• Last 2 years of tax returns and ATO notices of assessment.
• Bonus and commission breakdown from HR or payroll.
• RSU grant, vesting and sale statements (from your plan provider).

For tech, creative and hospitality roles around Green Square and Zetland, you’ll also want good records of shift, freelance or contract income. We go deeper on that in /insights/variable-income-borrowing-power-green-square-tech-creative-hospitality.

2.2 Worked example: bonus income and borrowing power

Assume:

• Base salary: $150,000.
• Average annual cash bonus (last 2 years): $30,000.
• Lender counts 70% of bonus: $21,000.

Assessable income for servicing = $150,000 + $21,000 = $171,000.

Indicative borrowing difference (P&I, 30 years, 6.5% assessed at 9.5% with 3% buffer, single borrower, average living costs):

• Without bonus: capacity maybe around $850,000.
• With shaded bonus: capacity might rise towards $1,000,000.

At 80% LVR, that extra capacity could be the difference between a $1.06m and $1.25m apartment in Green Square or Zetland. Numbers will differ by lender and personal situation, but you can see why getting bonus treatment right matters.