Tax Return Checklist

Checklist of Information needed to prepare your tax return

To make tax time as simple as possible and ensure the highest possible refund please review the following checklist prior to your appointment (note not all items will be relevant to you):

1)       Completed client details form (new clients)

2)       A copy of your last prepared tax returns (new clients, please provide if available)

3)       Employment income details – provide details if not ‘finalised’ in MyGov

4)       Receipts/Details of any work related expenses you have incurred, consider:

a)       Professional Memberships, Union Fees or Other Work Relates Association costs.

b)       Telephone/Internet - if you use your personal phone or internet for work you need to determine what percentage is work related. This may be by analysing one of the bills (review the call list) or you may be able to determine based on the time spent on your phone/internet  

c)       Working from home –

i)         Full diary, timesheet or other record showing the total number of hours worked from home each day

ii)       Evidence of working from home costs – internet bill, phone bill, electricity bill, stationary receipts

iii)    If you prefer to claim actual expenses, you will need records to show the costs for all items that relate to working from home - internet, electricity, telephone, gas, any other home office related costs. AND a record or diary to show how you have calculated the work related portion. The most common evidence is a time based usage diary, or analysis of a detailed bill to show the work vs private portions.  

d)       Any travel for work?

i)         Vehicle use –

(1)     logbooks or diary of the total motor vehicle km travelled

(2)     odometer reading at 30 June

(3)     car expenses details – petrol, insurance, registration, servicing & repairs, loan details

ii)       Overnight Trips? Please provide travel diary details including Date/s, Number of nights, location and details of any expenses not reimbursed by your employer for each trip.

iii)      taxi/parking or other travel costs

e)       Receipts for any items you have had to purchase to complete your work (e.g. tools or special equipment)

f)        If you are required to work outside you can claim for the costs of sun protection items (sunscreen, a hat etc.) These must be apportioned for private use so show how you have worked out the work portion.

g)       Do you have a uniform or protective clothing requirements?

i)         Receipts for purchases

ii)       Laundry loads records

h)       Work relates study expenses? Course Fee, Books & Resources, home office study time log

5)       Dividend Statements for any listed dividends (and purchase/sale contract if you bought or sold any shares during the year). I may be able to access some details in prefilling.

6)       Details of interest earned on your bank account/s. (Internet banking should be able to give you an annual summary.) I may be able to access some details in prefilling.

7)       Rental Property 

a)       Summary statement from the agent (or details of the rent received if no agent is used)

b)       Details of expenses not paid for by the agent, consider

i)         Council Rates

ii)       Water Charges

iii)      Land Tax

iv)      Insurance

v)       Utility costs (if not paid for by the tenant directly)

vi)      Advertising

vii)    Gardening

viii)   Repairs & Maintenance

ix)      Cleaning expenses

x)       Any other costs you may have incurred 

c)       Summary of the interest paid and any borrowing costs incurred for the loan to purchase the property 

d)    Tax Depreciation Report

e)       If you have sold the property sale contract and settlement statement for both the sale and your original purchase

f)     If the property is owned jointly with other, a copy of the purchase contract or other confirmation of the ownership percentage

8)       Have you earned any business income? If so please provide details of all income & expenses. If this is relevant to you please let me know and we can discuss further.

9)       Details/Receipts of any charitable donations made.

10)    Did you pay a tax agent to help with your returns last year? If so, please advise the cost of this. If I prepared your return I have this information.

11)    Do you have income protection insurance? If so please advise the total payment (most insurers send out an annual statement).

12)    Have you made any personal superannuation contributions? If so please provide your tax deduction notice.

13)    Have you had any other sources of income? If so please provide details. 

a) Sale of assets - rental properties, shares, managed fund units, cryptocurrencies

b) lump sum payouts, royalties, government payments, scholarships or jury service fees, 

c) trust distributions, 

d) foreign income or overseas investments?

14)    Do you have private health insurance? If so please provide the annual statement from your fund.

15)    Please advise your bank account details for the account you would like the ATO to pay any refunds into.

16)    Your partners details and their taxable income figures (if I don’t prepare their return) and the number of dependant children you have.

17) This is a non-exhaustive list. Do you have any other questions or items you think may be relevant? If so please include the information and we can discuss further.