WHAT DO YOU NEED TO PREPARE YOUR PERSONAL TAX RETURN

​

General Details:

​

• Photo ID or copy

• Current address and bank account details (if changed from last year)

• Contact details (mobile and email)

• Spouse income details (if applicable)

• Dependent details (if applicable)

​

Income

​

• PAYG Payment Summaries

• Interest earned from your bank account, including tax withheld if any

• Additional income details if any (e.g. ABN income, dividends, management fund/trust/partnership distribution/foreign income etc)

 

Expenses

​

• Work related car expenses (Motor Vehicle) other than to/from work, please provide the total mileage of the car for the purpose of followings:​

  • Travel between different work places, including from 1st to 2nd job

  • Drive to meeting, training, visiting sites from office/home

  • Carrying bulky tools / equipment (generally >10kg) for trades person

  • If a logbook is kept, please provide all itemised expenses details of the car, including purchase details.

​

• Travel expenses

  • Out of pocket flight/accommodation/meals/incidentals for work trip if not reimbursed by employer

  • Parking and tolls incurred during the work trip which are not reimbursed

  • Travel diary if stayed over 6 nights or more in a row

  • Note: generally travel expenses incurred during holiday/annual leave are not deductible unless mainly for work purposes

​

• Work related expenses including:

  • Uniform (must be with a logo or occupational specified) dry cleaning and purchase costs

  • Work related courses or self-education expenses (e.g. professional development courses)

  • Work related union fees / professional membership fees / registration fees

  • Mobile phone and % for work

  • Internet connection and % for work

  • Computer/laptop/tablet purchase date of cost as well as % used for work

  • Cost of stationery/printing/office equipment (receipts need to be available on request)

  • If have a separate home office, please provide no. of hours worked from home each week

  • Donations (name of the charity and amount)

 

WHAT DO YOU NEED FOR TAX IF YOU ARE AN INVESTOR

​

Rental property (profit / loss):

• Settlement statement of purchase (from solicitor)

• Borrowing cost – e.g. mortgage insurance, loan setup costs etc

• Annual summary from property agent (if applicable)

• Gross Income (only if no agent summary are supplied)

• Council and water rates (if not on the agent statement)

• Strata levies (if not on the agent statement)

• Repair and maintenance

• Interest on mortgage (normally this will be listed on the band statement for the period ended 30th June, you may also find this from online banking)

• Annual loan package fees (if any)

• Landlord insurance

• Quantity Surveyor’s depreciation report (if applicable)

• All other expenses

​

Rental property (Capital Gains/Losses):

• Date of purchase

• Settlement statement for purchase

• Stamp duty

• Settlement statement for sale

• legal fees (both acquisition and sale)

• Real Estate Agent commission

• Advertising costs

• Depreciation schedule (if applicable)

• Prior year’s tax return with rental property schedules

• Any other relevant documents

​

Share market investor:

• Dividend statements

• Interest paid on loans to acquire shares if applicable

• Cost of professional subscriptions and software

• If any shares have been sold, please provide date of purchase, costs and sales details