Good preparation is the key to getting the most out of your tax return interview. Having all necessary information ready will help your accountant get you the best result for your situation.
Although every client’s situation is different, here are some common items that we may need to prepare your tax return:
> A copy of your prior year tax return
- Whilst this is not always required, there are occasionally items from a prior year tax return that are relevant to following tax periods. Some common examples are: asset depreciation schedules, deferred non-commercial business losses, and carried forward tax and capital losses.
> Details of your income for the tax period
Employment Payment Summaries
Income not reported on your payment summaries (e.g. tips received by hospitality staff)
Employment Lump Sum Payment Summaries
Employment Termination Payment Summaries
Government Benefits Payment Summaries
Government Pensions Payment Summaries
Superannuation or Annuity Payment Summaries
Interest Received
Dividends Received
Employee Share Schemes
Partnership and trust distributions
Labour Hire Payment Summaries
Business Income
Capital Gains Tax Asset (CGT Asset) Events
Rental Property Income
Foreign Source Income
Other Income
> Details of your expense deductions for the tax period
Work Related Car Expenses
Motor Vehicle Log Book
Purchase/Sale/Lease Documents
Finance Documents
Ownership/Usage Changes
Additions/Improvements Documents
Work Related Travel Expenses
Travel Diary
Travel Expenses
Non-car Expense Details
Uniform & Clothing Expenses
Self-education Expenses
Other Work Related Expenses
Union Fees
Tools & Equipment
Home Office Expenses
Computer/Telephone/Internet Expenses
Expenses associated with your investments
Charitable Donations
Prior year accounting/tax preparation fees
Income Protection Insurance
Other Expenses
> Details of other factors for the tax period
Private Health Insurance
Medicare Levy Exemptions
Spouse or Defacto Income
Voluntary Superannuation Contributions
Higher Education Debt
Names & Dates of Birth for your Spouse/Dependants
Family Tax Benefit Information
Changes to your family situation
Changes to your residential circumstances
The information detailed above is only intended as a general overview. Please contact us
for specific advice with regard to your personal situation.
