Tax Return Checklist

Income Checklist

Here you will find a list of the types of income you may need to declare in your tax return and the information required to get it right.

❑ Salary, wages, earnings, allowances, tips and directors’ fees

❑ Lump sum and termination payments

❑ Centrelink payments, including pensions and allowances

❑ Annuities or other pensions

❑ Interest earned as per your bank, building society or credit union statements

❑ Dividends received or reinvested, including any franking credits

❑ Distributions from partnerships and trusts

❑ Details of any capital gains or losses from the sale of shares or property

❑ Rent received from investment properties

❑ Details of any foreign source income earned or received, including overseas pensions, foreign assets and any foreign taxes paid

❑ Details of any shares issued by your employer under an Employee Share Scheme

Deduction Checklist

The following list is a very general guide to the types of deductions you may be able to claim.

When claiming deductions:
    1. YOU MUST HAVE SPENT THE MONEY AND REMAIN OUT-OF-POCKET
    2. IT MUST BE DIRECTLY RELATED TO EARNING YOUR INCOME
    3. YOU MUST HAVE A RECORD TO PROVE IT

Work Related Expenses

❑ Motor vehicle expenses for work related travel

❑ Other work related travel such as taxis, uber, public transport, tolls and car parking

❑ Self education expenses, including course fees, books, stationery, travel and parking

❑ Purchase of tools or equipment for work related purposes. For items over $300, a receipt is required

❑ Home office running expenses, such as heating, cooling, lighting, cleaning, telephone and internet

❑ Sun protection such as hats, sunglasses and sunscreens for work related purposes

❑ Compulsory uniforms and protective clothing, including laundry costs

❑ Books, trade journals, subscriptions and professional library expenses

❑ Fees for seminars, conferences and conventions

❑ Details for meal allowance claims

❑ Depreciation of tools and business equipment

❑ Union fees

General Expenses

❑ Donations of $2 or more to a registered charity

❑ Tax agent fees, including travel to your tax agent

❑ Income protection insurance you may have

❑ Interest and fees on borrowings to acquire shares or purchase equipment used for income earning activities

Rental Property Checklist

INFORMATION TO PROVIDE

❑ If your investment property has more than one owner, what is the percentage of co-ownership

❑ If not for the full financial year, how many weeks was your property available for rent

❑ Annual rental statement from the real estate agency

❑ The Tax Depreciation Report for capital works deductions and depreciating assets

RENTAL DEDUCTIONS

❑ Interest and borrowing costs that relate to your rental property

❑ Council and water rates

❑ Advertising expenses to attract tenants

❑ Repairs and maintenance, such as replacing a broken window, lawnmowing or pest control

❑ Land Tax

❑ Property management fees paid

❑ Body corporate fees

❑ Insurances including landlord protection, building and contents

❑ Stationery and telephone; calls to tenants and real estate agents

❑ Legal expenses for lease preparation

Offsets and Other Information

COMMON OFFSETS

❑ Private health insurance rebate – require the annual statement

❑ Zone offset – if your main residence is in a remote zone area, where and the number of days you reside there

❑ Medical expenses – expenses related to aged care and disability care

❑ Spouse super contribution – any contribution on behalf of your spouse

❑ Seniors and Pensioners Tax Offset – if eligible, need spouse’s income 

OTHER INFORMATION

❑ Residency – If you became, or ceased to be, a resident during the year

❑ Bank account details – All tax refunds are paid by the ATO via direct deposit

Open Hours

Monday – Friday
9:00 am – 5:00 pm (WST)

Saturday closed

 

 

We are an eco friendly office

Contact Us

Fax: (08) 9524 6066
Post: PO Box 8118, Warnbro WA 6169
 
Rockingham Tax & Accounting