INFO FOR TAX

 

 

 

Having your paperwork organised always makes life much easier. Preparing your end of year documents and information prior to coming to see us will save you time and money.  This is a general list of what to have ready when we next meet.

 

For businesses:

• Accounts data file (MYOB or Xero, if not in cloud)

• Debtors & creditors reconciliation

• Stock take if applicable 

• June 30 bank statements for all bank accounts

• Bank statements for all loan accounts

• Documents on new assets bought or sold, including the date you entered the contract and the date the asset was first used or installed ready for use

• Copies of your activity statements for the past year

• Payroll records

• Cash book (if applicable)

• June 30 statements on any investment accounts

 

For individual income tax return:

• PAYG Payment Summary

• Tax statements of managed investment funds

• Interest income from banks, credit unions and building societies

• Dividend statements for dividends received

• For share sales or purchases, the purchase and sale contract notes

• For real estate sales or purchases, the solicitor’s correspondence for the purchase or sale

• Rental property statements from real estate agent and details of other expenditure incurred

• Work related expenses

• Self-education expenses 

• Travel expenses

• Donations to charities

• Health insurance and rebate entitlement

• Family Tax Benefits received

• Medical Expenses - This offset is now restricted to net eligible expenses for disability aids, attendant care or aged care. (ceases 30 June 2019)

• IAS statements or details of PAYG Instalments paid

• Superannuation contributions - salary sacrifice and personal.   

 

For superannuation funds​

• Bank statements for all bank accounts for the whole financial year

• Documents on new assets bought or sold, including the date you entered the contract and the date the asset was first used or installed ready for use

• Copies of your activity statements for the past year

• Cash book (if applicable)

• Tax statements of managed investment funds

• All income and expense source documents

• Dividend statements for dividends received

• For share sales or purchases, the purchase and sale contract notes

• For real estate sales or purchases, the solicitor’s correspondence for the purchase and sale

• Rental property statements from real estate agent and details of other expenditure incurred  

• Current insurance policy 

• Current lease agreement 

• Annual property valuation