Please note that most Individual Tax Returns are due for lodgment by 15 May of the following financial year (unless you have been informed otherwise). In order for us to complete your return by the due date, we will require your documentation no later than 1 March of the following financial year.

RENTAL INCOME AND EXPENDITURE

All Rental Income and Expenditure to be detailed in the Rental Property Schedule provided at the end of this checklist along with an option to upload annual Agent Statements and copies of invoices.

DIVIDENDS

Please provide copies of dividend statements of Income received, including Dividend Reinvestment Plans (DRP)

CAPITAL GAINS

Did you sell any assets such as shares or property which were acquired after 20 September 1985?

Please provide other Income Documents with this form

TRUST AND PARTNERSHIPS
(Eg: BT funds, Colonial First State, AXA etc) Name of trust or partnership -

 EMPLOYEE SHARE/OPTION SCHEME

ANY OTHER INCOME

 

Please provide details and documentation on any Income you have received in the financial year that does not fit into any of the above categories. 

 

Eg. Interest on any overseas bank accounts or any other foreign income received.

CRYPTOCURRENCY

 

FOREIGN INCOME

 

Please ensure you retain copies of receipts and tax invoices to substantiate all claims, even if less than $300.00.

Motor Vehicle

If yes, then please provide one of the following:

Log Book Method- Business % use (Please ensure you keep a log book for a continuous period of 12 weeks)

Please provide details of all expenses you incurred over the financial year including fuel, repairs and maintenance, registration and Insurance in a spread sheet or itemised form and attach it to this checklist.

If you have a loan for the vehicle, please provide figures of your lease payments.

OR

Kilometres Method

If you have not kept a log book but you use your car for work. Provide details of how many kilometres you would have travelled for work. The maximum the tax office allows you to claim is 5000 Kilometres.

Work Uniform

 

Complete this section if you incurred work-related clothing expenses such as:

 

> protective clothing

 

> uniforms

 

> occupation-specific clothing

 

> laundering and dry-cleaning of this clothing

Self-Education

Complete this section if you incurred self-education and study expenses. You can claim a deduction if the education relates to your current employment activities.  

Working from Home

Other Work-Related Deductions

 

Complete this section if you incurred other work-related expenses.

 

To claim a deducction for a work-related expense:

 

> you must have spent the money and your employer did not reimburse you

 

> the expense must directly relate to earning your income

 

> you must have a record of purchase

Gifts & Donations

You can claim for gifts or donations of $2 or more you make to a deductible gift recipient.

 

(This includes School Building Fund donations)

Private Health Insurance

The Private Health Insurance rebate is an amount the government contributes towards the cost of your private health insurance pemiums.

 

You may be eligible for the rebate which can be claimed when you lodge your tax return as a refundable tas offset.

Rental Property Details

Where you rent an investment property or it is genuinely available for rent, you can claim property expenses you incur.

 

Only rent received and expenses paid between the relating financial year are recorded.

New Property Purchase

Did you purhcase a new property during the financial year?

 

Please provide the following documentation.

 

> Settlement Sheet

 

> Bank Loan Offer

 

> First Bank Statement

 

> Transfer Title Documents

 

> First 4 Pages of The Contract for Sale

 

> Depreciation Schedule (if any)

Rental Income

You must declare all income you receive for your rental property. 

 

These include:

 

> short-term rentals (for example a holiday home)

 

> renting your property through a sharing platform (for example AirBNB)

 

> renting part or all of your home (for example renting out a room)

 

Please detail income below and provide Rental Schedules for property/s below

Rental Expenses

You can claim deductions for the expenses that relate to the income-producing use of the investment property.  

 

You are not able to claim a deduction for expenses for your personl use of the investment property.

 

Please detail expenses below and provide supporting documentation/receipts.

 

Please ensure that the information you have supplied is true and correct.

 

We will complete your Income Tax Return from information and records you supply to us.  You will be responsible for providing copies of and retaining sufficient receipts and source documents to substantiate claims made for income tax deductions and tax offsets.