Remember the financial year is 1 July 2024 to 30 June 2025

To ensure your return is lodged without delay, please bring the following details to your appointment. There is no deductions for  all GENUINE work expenses over $300 without receipts or evidence. The ATO gathers most wages, bank interest, dividends, investments, and superannuation contributions information where tax file numbers have been given to providers. I can access this in the ATO Portal.

• Your PAYG summary (Group Certificate) from Employer, Centrelink, Annuity and Pension Funds if you have them. I can in most cases get these from the ATO Portal.

• Details of Spouse’s taxable income.

• Your bank interest from your Bank Statements or better still a bank summary of interest.
• Your ETP PAYG Summary for Redundancy, Superannuation and Employment Termination if you have them. Usually available to me from the ATO Portal.
•  Annual Taxation Statements for investment equity and property trusts received July/August.
• For Shares: Dividend Distribution Statements usually two paid during financial year.

• Purchase and Sale details of investments sold during the year. Dates and amounts please.

• Totals for income and expenditure in regards to each rental property for:- Rent, Other Income,  Advertising, Borrowing Expenses, Cleaning, Rates. Gardening, Insurance, Interest on Loan,  Land Tax, Legal Fees, Pest Control, Agent Fees, Repairs, Building Cost, Stationery, Postage,  Telephone, Travel Klms, Water Rates, Other Expenses, and Plant & Contents with purchase dates.  Date first rented required and Purchase of Property details for File is handy.

• Details of any Work Related Expenses including: Motor vehicles,  Subscriptions, Union Dues,  Corporate Wardrobes, Self Education, Stationery,  Travel, Income Protection, Trade Tools, Technical Books, Sun Protection, home office.
• Details of any investment expenses: management fees and bank charges on Interest Bearing Accounts, business periodicals and finance newspapers, travel costs and meetings costs associated with investments.

• Detail of Donations to approved charities
• Annual tax health cover statements.

• Details of contributions to Super Funds: –  Amounts, Name of Fund, ABN No., and Tax File No. if claiming deducations or Spouse Contribution tax offset.

IT IS BEST TO HAVE YOUR DEDUCTIONS ITEMISED AND TOTALLED

***It’s Important to

maximize your

tax deduction

opportunities***

SMALL BUSINESS

Businesses should have an ABN Number and be registered for GST though not necessary if Gross Income is under $75, 000. It helps to have a separate business bank account, deposit book, bank statements, cash or ledger book, diary, and business stamp or printed stationery. Those having trading stock should do a June 30^th stocktake. Receipts and invoices for income and expenses should be kept and tally to these records.  Income and expenses itemised and totalled make for lower tax return preparation fee. GST registered businesses should present figures with GST deducted.