Individual Checklist

The following checklist contains details of some of the documents and information we may require when preparing your Income Tax Return.

The Australian Tax Office Portal will have some information available, such as income and health insurance rebates, however we cannot be sure when the Portal will be updated.

Personal Details

• Tax file number
• ID – passport, drivers license, etc
• Bank details – BSB, account number
• Previous year’s income tax return if new clients
• Spouse taxable income if not our client

Income/Earnings Documents

Payment Summaries

• Lump Sum and Termination Payment Summaries
• Government payment statements, if received
• Interest income from banks and building societies
• Dividend statements for dividends received or reinvested
• Annual Tax Statements from Managed Funds
• Rental properties
• Business
• Foreign income
• Capital gains
• Employee share schemes
• Partnership & trust distributions
• Managed fund statements
• Sole trader (ABN) income

Offsets and Refunds

• Health insurance and rebate entitlement statement
• IAS statements or details of PAYG instalments paid
• Spouse details including taxable and exempt
• Dependants details – name, DOB, legal responsibilities
• Zone if staying in a remote area for work or recreation – Please check our zone list in our tax return form
• Superannuation contributions for spouse
• Private health insurance statement
• Medical expenses

Deductions

• Work related expenses
• Motor vehicle Travel (fares & accommodation)
• Uniforms/ protective clothing
• Self-education and professional development
• Union, registrations, tools, subscriptions, memberships
• Asset purchase details – Computer, tools, equipment, etc
• Investment related expenses
• Home office, seminars and conferences
• Donations to charity organisation
• Telephone, computer, internet
• Accounting or tax agents fee
• Income protection insurance
• Superannuation contribution if self-employed
• Sole trader (ABN) expenses
• Any other costs incurred earning income
• Donations to charities or building funds
• Income protection insurance

For Temporary Visa Holders

(Working Holiday Visa, 457 Visa, Student Visa)

• Passport if not Australian citizen or permanent visa holder
• Copy of all of visa covered during this financial year

Rental Property

If a rental property was purchased during the year

• Date contract signed
• Copy of statement of adjustments, including details of settlement of property costs (ie. Council
• rates, body corporate fees)
• Date the property was first available for rent
• Copy of loan documentation detailing amounts paid in loan establishment fees, mortgage stamp
• duty etc.
• Details of fixture and fittings in the property at time of purchase, eg.Hot water system, light fittings,
• curtains, stove etc. You should include second hand value, not replacement value

If a rental property was sold during the year

• Date contract signed
• Copies of settlement documentation
• Details of the original purchase, including date contract was signed and settlement statement

For all properties rented during the year

• If you employ a property manager, a copy of their yearly summary of income and expenses for the
• property
• If the property is self-managed, a schedule of rent collected
• Details of all expenses paid directly including the following:

- Advertising for tenants

- Body Corporate fees

- Council and water rates

- Repairs and maintenance to the property

- Insurance

- Land tax

- Legal fees

• Copy of loan statements