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Tax Return Checklist
Individual Tax Returns
Income:
Gross Salary, Wages, Allowances, Benefits, Earnings, Tips and Directors Fees
Income from Business Activities
PAYG Payment Summaries
Details of any non-cash benefits received
Lump sum and termination payment. All documentation should be provided including an ETP Payment Summary from the employer or fund
Government Social Security payments, including pensions, unemployment and sickness benefits
Details of any CGT asset sales (eg. Shares and real estate). Please include dates of, and costs associated with, acquisition and disposal. (You can save tax if you qualify for the variety of CGT concessions).
Annuities, including allocated pensions
Income from trusts and partnerships. Statements of distribution should be provided where appropriate
Rental income
Interest and dividends received and any tax deducted. Include details of franked dividends
Foreign source (employment and pension) income and details of any foreign tax credits
Deductions:
Investment and property expenses (carefully detail interest claims)
Subscriptions (not including sporting or social clubs)
Employment related expenditure such as:
- Work-related car expenses:
- See Accountant re: Kilometres
- Other Work Related Travel Expenses
- Allowances
- Accommodation
- Meals
- Airfares
- Hire Cars
- Other Work-Related Expenses
- Home office expenses
- Computer & Software
- Telephone / Mobile Phone
- Tools & Equipment
- Journals / Periodicals
- Depreciation
- Sun protection products (sunscreen. Sunglasses etc)
- Seminars / Courses
- Uniform Expenses
- Protective Clothing
- Compulsory Uniform
- Laundry (up to $150 without receipts)
- Work Related Self Education
- Courses taken at educational institutions
- Course fees
- Books / Stationery
- Travel
- Other
- Donations of $2 or over
- Tax agent's fees and other accounting/tax audit fees
- Special deductions (Australian films, investment shelters and agribusiness-type schemes)
- Bank fees (where the credit or deposit represents assessable income)
- Unrecouped prior year losses
Rebates:
Details of private health insurance, unless your premium is net of the rebate
Details of superannuation contributions where no tax deduction can be claimed
Any changes in dependants (income of spouse should be provided)
Net family medical expenses if they exceed $1500 in total.
HECS Debt details
IMPORTANT DISCLAIMER: This newsletter does not constitute advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advise be sought before acting in these areas. This newsletter is issued as a helpful guide to clients and for their private information.
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