Checklist for Individual Tax Returns
While this checklist will not cover every situation, here is a comprehensive checklist of items to take to your accountant to discuss your tax return. It is a good idea to think about the year ahead. Talk with your accountant about tax planning strategies that will help you save money not only this tax year but years to come.
Personal Details:
- Name
- address
- TFN
- Date of birth
- De facto or married? If so, provide details of partner.
Income:
- Gross salary, wages, allowances, benefits, tips and directors fees
- Income from business activities
- PAYG summary amounts
- Lump sum and termination payments
- Non-cash benefit
- Government payments (pension, unemployment or sickness)
- Capital gains from asset sales
- Annuities
- Income from trusts or partnerships
- Rental income
- Interest and Dividends
- Foreign income
Deductions
- Investment property expenses
- Professional subscriptions
- Work-related expenditure records - motor vehicle, self-education,
clothing and uniform, home office, etc
- Charitable contributions and donations (over $2)
- Self employed superannuation contributions
- Tax preparation fees, accounting fees
- Special deductions (Australian film industry,)
- Bank fees
- Income protection insurance premiums
Rebates
- Private health insurance
- Superannuation contributions
- Changes in dependents
- Medical expenses over $1500
- Child care expenses
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