tax return checklist - Individual
At Freer Tax & Accounting Pty Ltd, we understand the complexities of tax deductions. We are dedicated to ensuring you claim every eligible deduction, from work-related expenses to home office claims.
To hep you out, we have put together a basic checklist to help ensure you have all documentation ready when preparing you tax return to ensure we can obtain the best outcome.
INCOME
- PAYG Payment Summaries
- Lump Sum & Termination Payments
- Government Pensions and allowances
- Other Pensions &/or annuities
- Tax Statements of managed investment funds
- Interest income from banks and building societies
- Dividend Statements
- Contracts and details of any shares, business or property sold or purchased
- Details of any Crypto currency transactions and relevant summary statements
- Rental Property Statements and details of other expenditure incurred - including rates, water, interest on loans, repairs & maintenance.
- Foreign Income such as employment income, pensions, interest or dividends from a foreign source
- Business Income - ABN details, business name and type, details of business income and expenditure.
- Details of any other income earned
DEDUCTIONS
- Motor Vehicle Expenses including km travelled and log books
- Work uniform or protective clothing
- Work related self education courses, training or seminars for your current job
- Work related tools that your employer didn't reimburse you for such as: stationery, technical journals & books, sunscreen, tools
- Home office hours and running costs including internet and mobile phone usage
- Union Fees
- Income Protection Insurance premiums (paid outside of superannuation)
- Investment expenses
- Donations to charity
- Personal Superannuation Contributions
- Prior year tax return fee
OTHER INFORMATION
- Private Health Insurance details
- Spouse details and taxable income estimate
- Number of dependant children