Checklist - Preparing for tax time the easy way

Whether you prepare your tax-return online yourself, or use the services of a qualified tax-agent, you can make the process of lodging your tax return a lot quicker and easier if you have all the receipts, tax invoices and documents organised.

 

Here is a handy list to help you be more organised! 

General

  • Previous Year’s Tax Return / Notice of Assessment
  • Previous Year’s Accountant’s Fees
  • Spouse + Children Details including DOB
  • Private Health Insurance
  • Medical receipts
  • Details of purchase or sale of property, shares, business or other investments (Capital Gains Tax Statements)
  • Receipts for donations made to DGR listed charities
  • Income Protection premiums
  • Personal pre-tax and post-tax contributions to superannuation
  • Self-employed superannuation contribution details.

Income-Related

  • Group Certificate from Employment / PAYG summaries
  • Interest earned on bank, savings and term deposit accounts
  • Rental Income received
  • Superannuation income stream / pension statements
  • Social security / Centrelink pension or allowance, family tax benefit payment summaries
  • Trust / Partnership distribution statements
  • Tax statements from share and managed fund investments
  • Lump sum payment summaries (i.e. Eligible Termination Payment statements)
  • Business or other income earned.

Expenses

  • Work related expenses (i.e. uniform, tools, travel, meals, self-education costs, union + professional membership)
  • Motor vehicle expenses (i.e. petrol and maintenance costs, log book or estimation of kilometres)
  • Rental property expenses (i.e. interest expense, property agent fees, body corporate, rates, insurance, cleaning, maintenance + repairs)
  • Investment expenses (i.e. financial advice fees, investment borrowing fees, bank fees).

There may be other items as well depending on your circumstances.