Income Tax Return Preparation Checklist

Burford PartnersFeatured, Taxation

  1. PAYG Payment Summary(s)
  2. Bank Interest Income
  3. Dividends and other investment income
  4. Tax statements from managed investments funds
  5. For share sales or purchases, the purchase and sale contract notes
  6.  Other capital gains & losses – details of other asset
    disposals, e.g. rental property etc.
  7. Business/contracting income
  8. Rental Property details of income & expenses
  9.  Spouse – full name
    • Taxable income, reportable fringe benefits and
      reportable superannuation contributions
    • Spouse member contributions to super
  10. Children – Christian names and dates of birth
    • Child support payments (if any)
  11. Work related deductions
    •  Car Expenses (log book/details of expenses)
    •  Travel Expenses (tolls, interstate travel/accommodation)
    • Uniforms (dry cleaning, washing, replacement)
    • Self-education expenses (fees, books, travelling)
    • Other work related expenses (home office, telephone,
      sun protection products, professional subscriptions,
      calculator)
  12. Interest & Dividend deductions (re 2 to 4 above – bank
    charges, interest)
  13. Gifts or donations
  14. Tax Agents Fee
  15.  Other deductions (Income protection insurance)
  16.  Personal Superannuation Contributions – Self Employed
    Persons
  17.  Spouse contributions to Super – tax offset entitlement