Tax Return Checklist

WHAT DO YOU NEED TO PREPARE YOUR PERSONAL TAX RETURN

General Details:

• Photo ID or copy
• Current address and bank account details (if changed from last year)
• Contact details (mobile and email)
• Spouse income details (if applicable)
• Dependent details (if applicable)

Income

• PAYG Payment Summaries
• Interest earned from your bank account, including tax withheld if any
• Additional income details if any (e.g. ABN income, dividends, management fund/trust/partnership distribution/foreign income etc)

Expenses

• Work related car expenses (Motor Vehicle) other than to/from work, please provide the total mileage of the car for the purpose of followings:
  • Travel between different work places, including from 1st to 2nd job
  • Drive to meeting, training, visiting sites from office/home
  • Carrying bulky tools / equipment (generally >10kg) for trades person
  • If a logbook is kept, please provide all itemised expenses details of the car, including purchase details.
• Travel expenses
  • Out of pocket flight/accommodation/meals/incidentals for work trip if not reimbursed by employer
  • Parking and tolls incurred during the work trip which are not reimbursed
  • Travel diary if stayed over 6 nights or more in a row
  • Note: generally travel expenses incurred during holiday/annual leave are not deductible unless mainly for work purposes
• Work related expenses including:
  • Uniform (must be with a logo or occupational specified) dry cleaning and purchase costs
  • Work related courses or self-education expenses (e.g. professional development courses)
  • Work related union fees / professional membership fees / registration fees
  • Mobile phone and % for work
  • Internet connection and % for work
  • Computer/laptop/tablet purchase date of cost as well as % used for work
  • Cost of stationery/printing/office equipment (receipts need to be available on request)
  • If have a separate home office, please provide no. of hours worked from home each week
  • Donations (name of the charity and amount)

WHAT DO YOU NEED FOR TAX IF YOU ARE AN INVESTOR

Rental property (profit / loss):

• Settlement statement of purchase (from solicitor)
• Borrowing cost – e.g. mortgage insurance, loan setup costs etc
• Annual summary from property agent (if applicable)
• Gross Income (only if no agent summary are supplied)
• Council and water rates (if not on the agent statement)
• Strata levies (if not on the agent statement)
• Repair and maintenance
• Interest on mortgage (normally this will be listed on the band statement for the period ended 30th June, you may also find this from online banking)
• Annual loan package fees (if any)
• Landlord insurance
• Quantity Surveyor’s depreciation report (if applicable)
• All other expenses

Rental property (Capital Gains/Losses):

• Date of purchase
• Settlement statement for purchase
• Stamp duty
• Settlement statement for sale
• legal fees (both acquisition and sale)
• Real Estate Agent commission
• Advertising costs
• Depreciation schedule (if applicable)
• Prior year’s tax return with rental property schedules
• Any other relevent documents

Share market investor:

• Dividend statements
• Interest paid on loans to acquire shares if applicable
• Cost of professional subscriptions and software
• If any shares have been sold, please provide date of purchase, costs and sales details