Tax Return Checklist

Ensure a smooth and efficient tax filing process with XTAS Partners comprehensive tax return checklist.

Covering everything from personal information to income and deductions, this guide is designed to help you gather all necessary documents and maximize your refund. Perfect for individuals and professionals alike.

Individual Tax Return Checklist - General

Income

PAYG Summaries
Pensions or government payments/allowances
Interest earned for the relevant year from your banks, building societies etc.
Dividend statements
Details of rental property income
Details of any business income Details of any other income earned

General Work Expenses

Personal car expenses (Estimation of Kilometres if no logbook kept, otherwise logbook and all expense items.)
Travel expenses (flights, taxis, train and bus fairs for training courses, trade fairs etc.)
Accommodation costs while working away from home
Phone costs (for work usage)
Work percentage of computer/laptop expenses (Lease or purchase)
Work percentage of internet costs
Home office running expenses
Work related self education expenses

Other Expenses & Records

Last year’s tax return fee  Income protection insurance premiums (paid outside of Superannuation)
Rental property expenses (eg: rates, body corp fees, agent fees, interest on loan, repairs and maintenance, water rates, depreciation schedule)
Investment expenses (For example: bank fees, financial advisors fees, investment borrowings etc.)
Records of sales and purchases of any shares, business or property
Private health insurance details
Spouse details
Children’s details including D.O.B and evidence of any Centrelink benefits
Details of any government debts (Child support, Centrelink etc.)
Charity donations

Sole Trader Checklist

If you're PSI?

Personal services income (PSI)

If you are a contractor or consultant, you may have to treat deductions in relation to this income differently.

General

Details of ABN and GST registration
Cashbook summary of revenue items and expenses if not using an accounting package (a soft copy is preferred (i.e. excel))
Bank statements for the entire financial year and bank reconciliation statement if prepared
Copies of each of Business Activity Statements sent to the Australian Taxation Office, if held
A backup of the accounting file if one was maintained.
Details of invoice of major purchases of plant or machinery, motor vehicles etc
If motor vehicle is being claimed for business related travel we require: log book percentage if applicable or number of kilometres travelled
Details of personal contributions or drawings from the sole trader busines