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         Tax Return Check List - Sydney Accountants & Tax Agents


Tax Return Check-List


·         Previous year’s tax return

·         Any current insurance policies e.g. income protection insurance

·         Latest superannuation details and statements


·         PAYG summaries from employers, Centrelink and/or superannuation funds

·         Lump sum payments (e.g. Employment Termination Payment)

·         Trust distribution statements

·         Managed fund annual tax statements and capital gains tax statements

·         Partnership distribution statements

·         Dividend statements

·         Bank statements detailing interest earned

·         Income from sale of shares and related information (e.g. sale and purchase date and price)

·         Foreign sourced income (e.g. interest, dividends or rental income)

·         Employee Share Scheme Statements


Work-related Deductions

·         Details of depreciable assets bought during the year (e.g. laptops, iPads and computers)

·         Professional journals/magazines

·         Professional memberships/subscriptions

·         Receipts for continuing professional development courses and seminars

·         Receipts for self-education expenses

·         Receipts or evidence of work-related deductions such as protective clothing, uniform

expenses and travel

·         Vehicle logbook for motor vehicle expenses (if using the logbook method)

·         Work related mobile phone & internet expenses


Other Deductions

·         Receipts for donations of $2 and over to registered charities (e.g. Bushfire/Flood tin collection)

·         Expenditure incurred in managing tax affairs (e.g. last year’s tax agent’s fees)

·         Expenditure incurred in earning investment income

·         Income protection insurance premiums


Capital Gains

·         Sale documents

·         Purchase documents

·         Associated expenses (e.g. lawyers’ fees & agency fees)

·         Settlement sheets


Rental Properties

·         Annual statement from property agent (if engaging the services of an agent)

·         Date of when property was purchased

·         Details of depreciable assets bought or disposed during the year

·         Expenses (which are not detailed on the property agent annual statement) incurred, such as water charges, land tax and insurance premiums

·         If property is held by more than one individual, details of owners and their legal ownership percentage

·         If property was disposed of during the income year, information relating to dates and costs

associated with the acquisition and disposal of the property (e.g. real estate commissions, legal costs, settlement sheets)

·         Loan statements for property showing interest paid for the income year

·         Period that property was rented out during the income year

·         Records detailing rental income (if not engaging the services of an agent)

·         Records of expenses relating to the property (if not engaging the services of an agent)

·         Quantity Surveyors Report for your properties


Offsets / Rebates

·         (New) - Eligible education expenses (computers, text books, etc.)

·         Details of any superannuation contributions for spouse

·         Details of Medical Expenses above the net threshold of $2,265 are eligible for a Tax Offset of 20% (except for higher income earners for whom the offset is 10%). Please note this offset is only available if you have claimed in 2013, 2014 and 2015.

*ATO are phasing out the Net Medical Expenses Offset over the period from 1 July 2013 to 30 June 2018.

·         Private health insurance statement


If Operating as a Sole Trader

·         Cashbook, which includes records of drawings taken before the business takings are banked

·         Copies of Business Activity Statements lodged

·         Copies of PAYG summaries for employees

·         Details of any government grants, rebates or payments received

·         Details of superannuation contributions for employees

·         Payments of salaries and superannuation to associates

·         Trial balance, P&L and Balance Sheet


Trust and Company

·         Previous year financial accounts and tax return

·         Ledger account of bookkeeping file or manual cash book

·         Bank account statements and loan accounts for full financial year

·         Work related travel including details of motor vehicle expenses, chattel mortgage, lease or hire purchase

·         Copies of BAS and IAS

·         Profit and Loss account and Balance sheet detailing expenses, income, assets and liability

·         Details of depreciable assets including date of purchase and price


Self-Managed Superfund

·         Previous year financial accounts and tax return

·         Ledger entries from bookkeeping software

·         Bank and loan statements for full financial year

·         Rental statements, dividends and any other income receipts

·         Details of investments purchased or disposed of during the last financial year

·         Any other document relating to SMSF


Other Information

·         Copies of Instalment Activity Statements lodged

·         Jury Duty fee

·         Any other information that you think is relevant

If you are in doubt about any income or expenses you have received or incurred then please bring your documents with you.

Sydney Accountants & Tax Agents Main Office Level 10, 20 Martin Place, SYDNEY, NSW, 2000, Tel: (02) 9540 3866, Mob: 0404 043 866 - Sydney Accountants & Tax Agents

And Book Yourself In For An Appointment

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