AL & Co Accountants PL T/A BTACS Brisbane | Brisbane Accountants and Tax Agents
Phone: 07 3554 1311
Individual Tax Return Checklist
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
- Spouse details including taxable and exempt
- Dependants details – name, DOB, legal responsibilities
- Private health insurance statement
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
Rental Property
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