Documents to bring to your appointment

Clients often ask us what documents they should have in preparation for their tax appointment. One of the simplest ways to work out what to bring is to look at your previous year’s tax return. This will remind you which categories of income, deductions and tax offsets apply to you.

You need to be able to prove (or substantiate) your deductions. This usually means keeping receipts or tax invoices for the amounts you have spent. However there are some exceptions.

  1. If your total claim for work related deductions is under $300 you are not required to keep written evidence.
  2. Home office expenses can be claimed without reference to receipts or utility bills. You can claim 45 cents per hour to cover certain expenses, however you should keep a four week diary of home office as substantiation.
  3. You do not need written evidence to claim motor vehicle expenses using the set rate or cents per kilometre method. But don’t just invent work trips – you still need a verifiable basis for working out your claim. There are several methods for claiming car expenses but cents per kilometre usually provides the best deduction where your business related trips are infrequent.

Here are some specific examples of what you should bring to your appointment

New clients only

  • Your most recent Tax Return
  • Notice of Assessment

Income

  • Payment summaries for salaries and wages
  • Allowances (ie. entertainment/car / travel / uniform / laundry / meals)
  • Lump sum termination payments
  • Government pensions and allowances
  • Payment summaries for superannuation income streams or other pensions
  • Payment summaries for superannuation lump sum payments
  • Interest (tip: check internet banking) and dividends
  • Distributions from partnerships or trusts, including managed funds)
  • Details of investment assets sold, such as shares or real estate

Work Related Expenses

  • Use of own motor vehicle for business travel (home-work-home excluded)
  • Other business travelling expenses (car parking, road tolls, accommodation)
  • Purchase of protective clothing or uniforms
  • Sun protection expenses
  • Self-education expenses (related to your current job)
  • Home office running expenses (total hours spent in home office needed)
  • Telephone expenses
  • Depreciation of library, tools, business equipment, percentage of home computer
  • Tools of trade
  • Subscriptions to trade or professional magazines
  • Union membership

Investment Related Expenses

  • Account keeping fees
  • Ongoing management fees
  • Interest on borrowing to buy shares
  • Advice relating to changing and managing investments (but not setting them up)
  • Investment publications (e.g. financial review, magazines, not ordinary newspapers)

Other Expenses

  • Donations (made to a deductible gift recipient)
  • Income Protection Insurance Premiums (not claimable if policy is held in super fund)

Rental Properties – Key documents required

  • Rental Summary from agent – or if not using an agent, your record of rent received
  • Interest paid (most banks will provide a total online or on your June bank statement)
  • Depreciation report from a quantity surveyor
  • Repairs and maintenance (itemised list with receipts)

It is important to itemise repairs & maintenance so we can distinguish between amount that are immediately deductible and amounts that must be written off over time.

Other expenses (please summarise these), including: advertising, cleaning, gardening, pest control, council/water rates, insurance, property agent fees, printing, postage and stationery.

Additional information

  • Contact details, if changed from last year
  • Bank Account details for your refund (BSB, Account Number and Account Name)
  • Remote zone allowance (if you lived in a remote area, not just FIFO travelled there)
  • Private health cover statement
  • Medical expense details if net expenses exceed $2,000 and are disability or assisted living related
  • Spouse details (Date of birth, taxable income, fringe benefits, reportable super contributions)
  • Dependent details, DOB and separate net income
  • Any other information that you may consider relevant