Income Tax Return Checklist – Individual
Individual Tax Return
Click here for a printable version of the Individual Tax Return Checklist
OR copy paste the below into your email, complete it, attach documents and email to admin@mercia.net.au or of the email address you have been provided with.
FOR NEW CLIENTS
Name of Client (taxpayer):
Address:
Preferred Contact No:
Name of Client (partner):
Number of dependants (children) living with you full time or part time:
Tax File Number:
Private Health Number:
Email: When complete email to admin@mercia.net.au
Please email the following soft copy documents for new clients:
1. Last years income tax return (if you don’t have a copy then that’s ok complete our tax return checklist BELOW)
2. Last years notice of assessment from the Tax Office
3. Private Health Insurance Annual Statement of Benefit
4. Any Managed Fund Statement Annual Tax Statement & Dividend Statements or a spreadsheet summary by you.
5. PAYG Annual Tax Summaries your employer(s)
6. We do not need any other documents if you understand how to summarise it and supply us with a spreadsheet summary of the information, information such <rental property summary>, dividends summary, etc. However if you prefer us to prepare your tax return from your source documents (such as dividend statements, etc) then you can email us the documents. If you do send us a summary then your fees will be less but please remember all documents/receipts must be retained by you for 5 years.
Use this checklist below to assist you in providing us with additional income, deductions and information needed to complete your tax return. If we identify other deductions you can claim or information needed for special rebates or tax offsets that can increase your tax refund we will contact you, any questions don’t hesitate to contact us.
ALL CLIENTS – INDIVIDUAL TAX RETURN CHECKLIST
| Information | Information emailed | Not applicable |
| Income | ||
| PAYG payment summaries (eg from employers) | ||
| Lump sum payments (eg employment termination payment) | ||
| Partnership distribution statement, including copy of partnership’s tax return | ||
| Trust distribution statement, including copy of trust’s tax return | ||
| Documentation re foreign source income, foreign assets or property | ||
| Bank statements stating interest earned, including for term deposits | ||
| Dividend statements | ||
| Employee share scheme statements | ||
| Managed fund annual tax statement and capital gains tax statement | ||
| Buy/sell contract notes for shares (if any shares were sold) | ||
| Work-related deductions | ||
| Details of depreciable assets bought during the year (eg laptops) | ||
| Details and receipts for home office expenses | ||
| Professional journals/trade magazines | ||
| Professional memberships/subscriptions | ||
| Receipts for continuing professional development courses and seminars | ||
| Receipts for self-education expenses | ||
| Receipts for other work-related deductions such as protective clothing, uniform expenses, tools and equipment, and travel | ||
| Vehicle logbook for motor vehicle expenses (if using the logbook method) | ||
| Other deductions | ||
| Receipts for donations of $2 and over to registered charities | ||
| Expenditure incurred in managing tax affairs (eg tax agent’s fees) | ||
| Expenditure incurred in earning interest, dividend and other investment income (eg investment advice fees) | ||
| Income protection insurance premiums | ||
| Rental properties | ||
| Date when property was purchased, including details of co-ownership if applicable | ||
| Period property was rented out during the income year | ||
| Records detailing rental income (annual statement from property agent, if engaging services of an agent) | ||
| Loan statements for property showing interest paid for the income year | ||
| Expenses incurred such as water charges, land tax and insurance premiums | ||
| Details of depreciable assets bought or disposed of during the year | ||
| Details of any capital works on the property | ||
| If the property was disposed of during the income year, information relating to dates and costs associated with the disposal of the property | ||
| Offsets/rebates | ||
| Details of any superannuation contributions for spouse | ||
| Details of medical expenses where the total exceeds $2,218 (after Medicare and private health fund rebates) | ||
| Details of dependants, including their age, occupation and income | ||
| Private health insurance statement (and details of prepaid premiums) | ||
| If operating as a sole trader | ||
| Cashbook, which includes records of drawings taken before the business takings were banked | ||
| Copies of Business Activity Statements lodged | ||
| Copies of PAYG summaries for employees | ||
| Details of any government grants, rebates or payments received | ||
| Details of superannuation contributions for employees | ||
| Details of any assets purchased, including date of purchase and amount | ||
| Payments of salaries and superannuation to associates | ||
| Records from accounting software (eg trial balance, profit and loss, and balance sheet) | ||
| Statements of all liabilities of the business | ||
| Notice of superannuation contributions for self-employed persons | ||
| Other information | ||
| Copies of Instalment Activity Statements lodged | ||
| Any other information that you think is relevant |
Remember where you are uncertain on any aspect of the law in relation to a proposed or completed transaction you can seek a private ruling from the ATO, see the <ATO-Link>.
Alternatively you can apply for a tax return online here (mobile compatible); <Click Here>