Company, Trust or Partnership – Tax Return Checklist
Name of taxpayer:
Address:
Preferred contact no.:
| Information | Information provided | Not applicable |
| Income | ||
| Accounting information, including trial balance, profit and loss, and balance sheet | ||
| Asset register detailing depreciable assets bought and sold or scrapped during the income year | ||
| Cashbook (if maintained) | ||
| Copies of sell notes and settlement statements for shares sold (and original contract notes and settlement statements if possible) | ||
| Copies of sell notes for units in managed funds sold (and original purchase notes if possible) | ||
| Details of any other income such as rental income | ||
| Details of any other investment income | ||
| Details of any grants, subsidies, payment and rebates received | ||
| Details of interest and repayments received from shareholders | ||
| Details of proceeds from disposal of capital assets | ||
| Managed funds distribution statements, annual tax statements and capital gains statements | ||
| Dividend statements | ||
| Deductions | ||
| Details of advertising and marketing expenses | ||
| Details of bad debts written off during the income year | ||
| Details of bonuses and commissions paid to employees | ||
| Details of bonuses and commissions paid to external parties | ||
| Details of bonuses paid to directors | ||
| Details of borrowing costs for new loans entered into during the income year | ||
| Details of director fees | ||
| Details of donations of $2 and over to deductible gift recipients | ||
| Details of entertainment expenses | ||
| Details of expenses incurred during the income year that were associated with establishing, expanding, merging or liquidating the entity | ||
| Details of fringe benefits tax paid (and a copy of the FBT return lodged) | ||
| Details of interest on loans | ||
| Details of lease expenses for motor vehicles, premises and equipment | ||
| Details of legal expenses | ||
| Details of lump sum payments (including for retirement and redundancy) | ||
| Details of motor vehicle expenses | ||
| Details of prepayments | ||
| Details of professional subscriptions and journals | ||
| Details of rates, land taxes and insurance premiums | ||
| Details of repairs and maintenance | ||
| Details of research and development activities and expenses | ||
| Details of royalties paid | ||
| Details of salaries paid, including fringe benefits | ||
| Details of superannuation contributions for directors | ||
| Details of superannuation contributions for employees | ||
| Details of tax, and accounting and audit fees paid | ||
| Details of any assets purchased, including date of purchase and amount | ||
| Details of travel expenses (provide travel diaries) | ||
| Balance Sheet – Assets | ||
| Asset register detailing depreciable assets bought and sold or scrapped during the income year | ||
| Bank statements | ||
| Cheque book butts and deposit books | ||
| Copies of confirmation for any units in managed funds purchased | ||
| Copies of contract notes and settlement statements for any shares purchased | ||
| Details of any other investments purchased | ||
| Details of capital assets purchased during the income year | ||
| Details of leases entered into and terminated during the income year | ||
| Details of loans, payments, forgiveness of debts, or provision for use of assets to shareholders or their associates | ||
| Details of work in progress | ||
| Listing of trade debtors with amounts outstanding | ||
| Value of stock as at 30 June (and basis of valuation) | ||
| Information | Information provided | Not applicable |
| Balance Sheet – Liabilities | ||
| Accrued expenses (e.g. audit fees and bonuses) and unearned revenue | ||
| Details of all loans | ||
| Listing of trade creditors with amounts owing | ||
| Provisions for long service leave and annual leave | ||
| Statements from lending authorities detailing the opening and closing balances of existing loans during the financial year | ||
| Balance Sheet – Equity | ||
| Details of changes to shareholding | ||
| Details of loans from shareholders or partners | ||
| Details of any increase or decrease to reserves | ||
| Additional Information – Company | ||
| Loans, payments, debt forgiveness, or use of assets given to shareholders or associates of the shareholders, if private company | ||
| Auditor’s report (if applicable) | ||
| Copies of Business Activity Statements and/or Instalment Activity Statements lodged for the income year | ||
| Copies of minutes of company meetings | ||
| Details of any share buy-backs or share cancellations | ||
| Any of the following schedules (as applicable): | ||
| · Losses (carry-forward tax losses and net capital losses exceed $100,00) | ||
| · Capital gains tax | ||
| · Dividend and interest | ||
| · International dealings | ||
| · Non individual PAYG payment summary | ||
| · Research and development (R&D) tax incentive | ||
| Additional Information – Trust | ||
| Copies of Business Activity Statements and/or Instalment Activity Statements lodged for income year | ||
| Copies of minutes of trustee meetings, in particular distribution resolutions | ||
| Copy of trust deed or any amendments during the income year, if not already supplied | ||
| Details of any units redeemed or issued during the income year (for a unit trust) | ||
| Details of any unpaid present entitlements to beneficiaries or associate private companies | ||
| Details of any elections e.g. family trust election, interposed entity election | ||
| If closely held trust (including family trust), any relevant notices e.g. tax file number (TFN) report, trustee beneficiary (TB) statement | ||
| Additional Information – Partnership | ||
| Copies of Business Activity Statements and/or Instalment Activity Statements lodged for the income year | ||
| Copies of minutes of partnership meetings | ||
| Copy of partnership agreement | ||
| If the partnership was restructured during the income year, all relevant details | ||
| If a right to partnership income or capital was transferred, created, varied or terminated during the income year, all relevant details | ||
| Additional Information – All Entities | ||
| Other receipts or outgoings received or incurred, where uncertain if assessable/deductible | ||
| Copies of any employer shortall exemption certificates | ||