2008 Tax Return Client Checklist by ito20106


									                                              2008 Tax Return
                                              Client Checklist

                                        2008 - Individual Tax Returns

             Income                              Deductions                          (income of spouse should be

• Gross Salary, Wages, Allowances,     • Investment and property expenses       • Details of any income received in
  Benefits, Earnings, Tips and           (carefully detail interest claims)       a lump sum which was accrued in
  Directors Fees.                                                                 earlier income years (e.g.
                                       • Subscriptions (not including             assessable pensions).
• Income from Business Activities.       sporting or social clubs).
                                                                                •    Net family medical expenses if
• PAYG Payment Summaries               • Employment related Expenditure              they exceed $1500 in total.
                                         such as work-related motor
• Details of any non-cash benefits       vehicle, self-education, protective    •    HECS Debt details
  received.                              clothing and uniform expenses.
• Lump sum and termination             • Donations of $2 and over               Note: Taxpayers with a dependant child
  payments. All documentation
  should be provided including an      • For self-employed persons details      (under 21), or qualifying dependant
  ETP Payment Summary from the           of any superannuation                  student, should check to see if they are
  employer or fund.                      contributions made.
                                                                                eligible for Family Tax Assistance.
• Government Social Security           • Tax Agent Fees and other
  payments, including pensions,          accounting/tax audit fees.
  unemployment and sickness            • Special deductions (Australian
                                                                                    8 Most Common Errors
  benefits.                              films, investment shelters and                in Tax Returns
• Details of any CGT asset sales         agribusiness-type schemes).            • Omitting Interest Income
  (e.g. shares and real estate).       • Bank fees (where the credit or
  Please include dates of, and costs                                            • Incorrect or Omitted Dividend
                                         deposit represents assessable
  associated with, acquisition and       income).                                    Imputation Credits
  disposal. (You can save tax if you
  qualify for the variety of CGT       • Unrecouped prior year losses.          • Capital Gains/Losses are Incor-
• Annuities, including allocated                                                     rect or Omitted
                                                                                • Understating Income
• Income from trusts and
  partnerships. Statements of          • Details of out of pocket Child Care    • Home Office Expenses
  distribution should be provided        expenses, being fees paid for
                                         approved child care less any Child     • Depreciation on Rental Property
  where appropriate.
                                         Care Benefit received.
• Rental income                                                                      Fixtures and Fittings
                                       • Details of private health insurance,
• Interest and dividends received        unless your premium is net of the      • Depreciation on Income Producing
  and any tax deducted. Include          rebate.
  details of franked dividends.                                                      Buildings
                                       • Details of superannuation
• Foreign source (employment and         contributions where no tax             • Borrowing Costs associated with
  pension) income and details of any     deduction can be claimed.
  foreign tax credits.                                                               Negative Gearing
                                       • Any changes in dependants

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