Overview
When completing a Source of Funds submission, you will be asked to explain where your money comes from and upload supporting evidence. The documents you need depend on the sources your funds come from.
What this covers
This article lists what is asked for each source type, and what is needed for the bank accounts your funds are held in. You will not be asked about every source type, only the ones that apply to you.
Every source asks for the amount, and whether any of those funds came from outside Australia. Most also ask whether you have received the money yet.
Evidence needed for each source
Select each source below to see what you will be asked for and what to upload.
Savings
Savings
You will be asked for:
How much your savings are worth
Whether these funds are from outside Australia
Your income source (Employment, Self employed, Retired or Other). What you are asked, and what to upload, depends on your answer:
Employment: your annual salary and how the payment appears on your statement. Upload your latest ATO income statement or PAYG payment summary, and a recent, dated payslip.
Self employed: upload evidence of your self-employed income, such as your tax return, notice of assessment, BAS, accountant letter or business bank statements.
Retired: whether you claim a pension. Upload a copy of your pension statement or any other evidence of your pension.
Other: an explanation of how you earn your income. Upload evidence of how you earned your savings.
What to upload: Depends on your income source, as listed above.
Savings does not ask whether you have received the money, because the funds are already held. Savings always requires bank statement evidence.
Property sale
Property sale
You will be asked for:
The amount, which is the net proceeds after agent's fees
Whether any of your funds come from outside Australia
Whether this money has been received yet
The address of the property
The name and address of your conveyancer
What to upload: The contract of sale, the settlement statement, and a bank statement showing the sale proceeds being received.
Mortgage
Mortgage
You will be asked for:
The amount
Whether any of your funds come from outside Australia
Whether this money has been received yet
The address of the property
The name and address of your lender
What to upload: The mortgage offer letter, the mortgage statement, and the settlement statement showing the loan amount, outstanding balance and where the proceeds were applied.
Gift
Gift
You will be asked for:
Whether this money needs to be repaid. If it does, it is a loan, not a gift, and you will be asked to add it as a Loan instead.
The amount
Whether any of your funds come from outside Australia
Whether this money has been received yet
The details of the person providing the funds: their name, their relationship to you, their email address and their address
What to upload: A gift declaration or statutory declaration confirming the gifted funds.
Loan
Loan
You will be asked for:
The amount
Whether any of your funds come from outside Australia
Whether this money has been received yet
The details of the person providing the funds: their name, their relationship to you, their email address and their address
What to upload: A loan agreement or statutory declaration confirming the private loan.
Inheritance
Inheritance
You will be asked for:
The amount
Whether any of your funds come from outside Australia
Whether this money has been received yet
Details of the estate, plus the name and address of each executor
What to upload: A copy of the letter from the executors stating how much you are being paid as a beneficiary.
Investments, stocks & shares
Investments, stocks & shares
You will be asked for:
The type of investment
The amount
Whether any of your funds come from outside Australia
Whether this money has been received yet
What to upload: Evidence of the investment sale, for example sale confirmations or account statements.
Other
Other
You will be asked for:
A description of the source
The amount
Whether any of your funds come from outside Australia
Whether this money has been received yet
What to upload: Any document that evidences this source.
ℹ️ Important
For every source where you confirm the funds have been received, you will be asked to add bank account details and upload statements for that source at the next stage. If you have not received the funds for a source yet, that step is skipped for it.
Bank statements
Alongside the evidence for each source, you will be asked to provide bank statements for the accounts your funds are held in. You upload these from your computer or mobile device. Account details are not asked for on the source forms, only here.
For each account you will enter:
Account name
Account provider
Account number
BSB
Account balance
You can add as many accounts and upload as many files as you need. You will then match each source you declared to the account those funds are held in.
ℹ️ Important
Upload complete, multi-page bank statements. Documents that are not bank statements, such as payslips or settlement statements, cannot be read automatically, but they may still be valid supporting evidence for your firm.
ℹ️ Further guidance
File requirements
Supporting evidence for a source: PDF, DOC, DOCX, TXT, JPG, JPEG and PNG
Bank statements: PDF, JPEG, JPG, PNG, GIF and TIFF
Maximum file size 50MB
Password-protected PDFs cannot be accepted
Important information
You will only be asked about the source types that apply to your transaction.
Account details are collected once, at the bank statement stage, not on each source.
You upload your own bank statements. There is no option to connect a bank account.
If you are unsure which source applies to you, contact your law firm directly rather than guessing.
Legl cannot review or approve your submission. All decisions sit with your law firm.