That's a tricky one. You're right in that anything the business makes, you make, as it's an SP. So your incomes are one and the same.
I haven't actually reached my estimated monthly salary yet because it has taken a while to get going/network and the market has also been a little slow for everyone in my industry over the last couple of months. But I'm sure there will be some months where I too get a big commission and will massively exceed it.
If you put that you won't be earning anything then I can't see it being accepted as no income = no tax = no reason for them to approve it. I would pitch a middle ground and explain in your covering letter that it's estimated pending contracts. Too low and it doesn't look like a proper job; too high and you will have to guarantee/pay up front a huge amount of tax. Perhaps think about what you might realistically make in a year and divide it by 12? I would stress that I'm no expert, other than that mine was approved, though.
I don't think MOM usually gives a reason if they decline you I'm afraid.
Good luck!
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