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Before preparing your tax return, make sure you have the following;

  • Income Records
    • Group certificates (PAYG summaries): Your employer should issue these to you no later than July 14.
    • Total amount of interest received shown on bank statements, term deposit statements and other interest bearing account statements.
    • All of your share dividend remittance advice statements.
    • End of year tax statements for pensions, superannuation funds, managed funds, trusts, etc.

    • Records of any assets that you have sold during the tax year.
    • Business income records.

    • Rental property income records.
    • Foreign investment income statements.

    • Centrelink payment summaries 
  • Private Health Insurance
    • If you have private health insurance, make sure you have received your end of year tax statement from your health fund.

    • Your statement will tell you if you need to claim the 30% rebate off your insurance premium in your tax return.
  • Receipts for Tax Deductions
    • If you are claiming a tax deduction for a work or business related expense, make sure you have the receipt, a diary entry, or some other written record to show the date of the purchase, a description of the item and the price of the item.
    • If you use your car for work or business, it is useful to keep a logbook. A log book records odometer readings at the start of the year and the end of the year, as well as the amount of kilometres travelled for each work or business trip. Along with the logbook, you should also keep records of other motor vehicle expenses such as, registration, repairs, fuel and oil, interest payment on a lease, insurance payments, etc.
  • Spouse and Children's Income
    • When preparing your own tax return you will need to know your spouse's taxable income as well as any income that your children earned whilst in your care.
  • Last Year's Tax Return
    • It is always a good idea to refer to your previous tax return to find any loss amounts that may be carried forward to be offset against future income.
    • Some examples are; excess business losses, excess farm management deposits, carry forward capital loss amount (found at item 14R of your tax return), any excess landcare and water facility rebate, etc
  • Personal Details
    • Tax File Number
    • Spouse Tax File Number
    • Spouse date of birth
    • If you would like your refund deposited into your bank account by EFT, you will need your BSB, account number, and the name that appears on the account.


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