Tax Agent


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Best possible refund within fourteen days in most cost effective manner. We have a comprehensive checklist to make sure that we go through every possible claimable expense with you so that you never miss on even a single dollar of tax refund.

Please refer to the following in order to get ready for the filing your tax return. Please collect your receipts, tax invoices and documents for the items below – check them off when you’ve found them – this will make your tax return appointment faster and easier.

Individual Tax Return Checklist – Basic

GENERAL :

• Last Year’s Income Tax Return
• Records of sales and purchases of any shares, business or property
• Private Health Insurance Details
• Spouse Details
• Children’s details including D.O.B and evidence of any Centrelink benefits

INCOME :

• PAYG Summaries
• Pensions or Government payments/Allowances
• Interest earned for the relevant year from the banks, building societies etc.
• Dividend Statements
• Details of rental property income
• Details of any business income
• Details of any other income earned

EXPENSES :

• Work Related Expenses For example: uniform, tools, education, fees etc.
• Motor Vehicle Expenses Incl. estimation of Kilometres if no logbook kept, otherwise logbook and all expense items
• Travel Expenses
• Investment Expenses For example: bank fees, financial advisors fees, investment borrowings etc.
• Rental Property Expenses For example: rates, body corp fees, agent fees, interest on loan, repairs and maintenance (inside and out), travel,   water rates, depreciation schedule, etc.
• Cost of managing tax affairs
• Charitable donations

Individual Tax Return Checklist – Advanced

Investment related deductions

• Interest / fees on borrowing for investment purposes (bring statements)
• Asset purchase/sale agreements

Employment income deductions

• List of work related expenses from ATO i.e. tools, income protection insurance
• Receipts or evidence of work related deductions eg: car, travel, laundry, meals
• Union fees

Offsets

• Dependants – name, DOB, and legal responsibilities • Evidence of children’s (primary or secondary) school expenses (computer, books, etc.)
• Zone – if you live in a remote area you may be eligible for an offset • Sole parent/spouse/housekeeper/low

Income / Aged persons

• Spouse contributions to superannuation
• Superannuation pension rebates
• Private health insurance statement
• Medical receipts (if spent more than $1,500)
• Imputation credit information from dividend
• Statements

Investment property

• Water charges
• Bank fees
• Details of when property was rented, including any rental or Agents statements
• Date when property was purchased
• Capital costs
• Interest on loans
• Advertising fees
• Agent fees
• Body corporate fees
• Borrowing expenses
• Cleaning and general maintenance expenses
• Council rates
• Gardening/lawn mowing fees
• Insurance premiums paid
• Land tax details

Income earned statements

• Foreign sourced income
• Partnership distribution
• Rental Income
• Deductible amount for pension/annuities
• Payment summaries
• Capital Gains Tax statements (details of any assets sold)
• Lump sum payments eg: Eligible Termination
• Payment statements
• Social security, pensions, allowance statements
• Trust distribution statements
• Tax statements from Fund managers
• Bank statements - showing interest and fees
• Share dividend statements
• Contract notes for buy/sell transactions
• Tax statements from stockbrokers
• Income stream statements
• Life insurance Bonus Policy statements

Other deductions

• Tax Agent Fees
• Superannuation if self employed
• Receipts of gifts/donations to charity
• Receipts of self-education expenses eg: books, computer costs, car expenses
• Financing lease statements
• Income Protection premiums (bring statements)


tax system


Our Contacts

ACCOUNTING AND TAX
Unit 2, 100 High Street, Prahran
VIC 3181
Australia
Telephone:+61 4 2327 4777
Landline:+61 3 9510 2120
raybaath@accountingandtax.com.au

About Us

If you are looking for a blend of truly personal service and expertise, you have come to the right place! At ACCOUNTING AND TAX, we offer a broad range of tax and accounting services for business owners, executives and individuals.
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