"Individual Tax Return Checklist"
STANDARD CHECKLIST OF INFORMATION REQUIRED INDIVIDUAL INCOME TAX RETURN FOR THE FINANCIAL YEAR 1 JULY 2005 TO 30 JUNE 2006 Kindly please provide us with the following information (if applicable) : INCOME DEDUCTIONS * Salary & Wages payment summaries WORK-RELATED CAR EXPENSE CLAIMS * Business income or loss statements * 12% of actual cost method * Capital Gains documenation eg. Buy and sell * cents per km method (max 5000 km) contracts, relevant dates, additional costs etc * log book method * Director's fees, allowances etc * one-third of actual expenses method * Eligible termination payment (ETP) summaries * Car expenses allowed : fuel, oil, repairs, * Foreign Source income insurance, registration, interest, depreciation, * Government Allowances tyres, car washes, lease pmts, toll fees etc - Social Security pension statements - Centrelink payment summaries OTHER WORK-RELATED TRAVEL EXPENSES * Interest income * Other expenses eg. Car rental, * Investment tax summaries eg. Managed funds domestic & overses travel etc * Life Insurance Bonus Policy statements * Lump sum payments WORK-RELATED UNIFORM AND OTHER * Partnership income/loss statements CLOTHING EXPENSES * Pension and Annuity income * Dry cleaning * Personal services income * Laundry (up to $150 without receipts) * Rental statements (summary of rental income * Protective clothing & expenses) * Uniforms etc * Share dividend statements & imputation credits * Superannuation statements WORK-RELATED SELF-EDUCATION EXPENSES * Trust distributions * Course fees, travel, books, computer costs etc * Other income (please specify) OTHER EXPENSES TAX OFFSETS/REBATES * Computer & Software costs * Baby Bonus ( children born after 1/7/01) * Details of work-related equipment purchased * Medical receipts (if spent more than $1500) * Home Office/Home Study expenses * Private health insurance statement * Journals/periodicals/technical books * Sole parent/spouse/housekeeper rebate (if not * Overtime meal expenses a client, details of income earned) * Professional Association fees * 30% Child Care Tax Offset * Repairs & insurance on work-related equipment * Spouse contributions to superannuation * Subscriptions & Union fees * Other rebates (please specify) * Sunscreen claims * Telephone/Mobile phone SUPERANNUATION * Other work deductions (please specify) * Full name of fund & policy number * Other deductions (please specify) OTHER TYPES OF DEDUCTIONS GENERAL * Details of income protection premiums * Changes to personal details * Gifts and Donations * Changes to addresses * Interest and dividend deductions * Details of reportable fringe benefits * Investment expenses eg management fees etc * For new clients: please include a copy of your * Non-employer sponsored superannuation pmts previous tax return, details of previous tax losses * Superannuation if self-employed & costs of managing your tax affairs * Other deductions (please specify) STANDARD CHECKLIST INFORMATION REQUIRED FOR FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR 1 JULY 2005 to 30 JUNE 2006 Kindly please provide us with the following information (if applicable) : ACCOUNTING SOFTWARE * Latest backup copy of accounting data (backup disk or email - zip format is best) * Kindly note the version number & file names BANK AND CASH MYOB/Quickbooks datafile *Copies of bank statements at 30 June 2006 and bank reconciliation statements * Bank Statement for July 2006 (or bank print-out) Manual Processing * Bank Statements (1 July 2005 to 30 June 2006) * Bank Reconciliation Statement as at 30 June 2006 * Credit Card Statements (1 July 2005 to 30 June 2006) * Bank Statement for July 2006 (or bank print-out) * Bank deposit and cheque books * Petty cash summaries * Cash on hand balances as at 30 June 2006 FIXED ASSETS * Documentation for all new assets purchased during the year * Details of assets sold during the year (date, selling price etc.) * Copies of all new Hire Purchase, chattel mortgages and/or Finance Lease agreements DEBTORS * Trade and Sundry Debtors lists as at 30 June 2006 * Details of all Bad Debts * Details of short-term deposits & Staff Loans CREDITORS * Trade Creditors list as at 30 June 2006 * Details of all Sundry Creditors eg. telephone, power, gas, superannuation etc. STOCK * Stock list as at 30 June 2006 INVESTMENTS AND LOANS * Investment statements and Share summaries * Loan Statements (1 July 2005 to 30 June 2006) * Dividend advices & Interest earned * Confirmation of capital accounts and private loans CAPITAL GAINS & LOSSES * Capital Gains documentation eg Buy & Sell contracts, relevant dates, additional costs etc. ATO RETURNS * Copies of the following (where these are not prepared by Shakespeare Partners): - Business Activity Statements - Instalment Activity Statements - Pay As You Go Statements * Salaries and Wages Payment summaries (copies of all group certificates and annual statement) GENERAL * Schedule / Documentation for all business expenditure paid out of personal funds * Documentation for all prepaid business expenses * Copies of legal contracts * Financial Statements of Related Entities * Details of reportable fringe benefits * Details of private usage of business assets and expenses * Details of superannuation contributions (Dates and amounts paid) * Any other relevant financial information required to complete the financial statements STANDARD CHECKLIST OF INFORMATION REQUIRED RENTAL PROPERTIES FOR THE FINANCIAL YEAR 1 JULY 2005 TO 30 JUNE 2006 Kindly please provide us with the following information (if applicable) : INCOME * Rental Income * Other rental related income * Sundry income DEDUCTIONS * Advertising for tenants * Body corporate fees and charges * Borrowing expenses * Cleaning * Council rates * Capital allowances (depreciation) * Electricity and gas * Gardening and lawn mowing * Insurance (building, contents, public liability) * Interest on loan * Lease costs (preparation, registration and stamping) * Land Tax * Legal expenses * Pest control * Property agents fees and commission * Repairs and maintenance * Capital works deductions (special building write off) * Security patrol fees * Secretarial and bookkeeping fees * Stationery, telephone and postage * Telephone calls and rental * Travel expenses * Water charges * Sundry rental expenses CAPITAL WORKS (BUILDING WRITE-OFF) DEDUCTION Rental property owners are entitled to an annual deduction of 2.5% on the actual costs of construction, subject to having a record or estimate of these costs. The Tax Office will accept construction cost estimates from a clerk of works, Architect, Builder or Quantity Surveyor. It is only available for residential buildings where construction commenced on or after 18 July 1985. To obtain this deduction please provide details of the construction costs of your property (if you have not already done so).