Your Tax Time 2014 Checklist

It is getting to that time of year again.

Here are a few things that you should look at getting ready to bring in when you come to get your tax done.

  1. All PAYG Summaries from employers
  2. Interest received from bank accounts (savings, term deposits)
  3. Statements from Trusts or managed funds
  4. Information re: small business that you may have.
  5. Rental statements and all deductions
  6. Capital Gain information if you have sold shares or rental properties.
  7. Other income – from jury duty etc.
  8. All work related deductions:
    1. Do you use your motor vehicle for work purposes (not just driving to and from work)?
      Unless you are a trade person and have very large objects to transport or if your position requires you to go out on site or to visit clients using your own vehicle
    2. Did you do any travel for work that is not paid for by your employer?
    3. Do you have a work uniform (with a logo) that either you or your employer provides, protective work boots or other protective clothing?
    4. Are you doing an study directly related to you employment that you are having to pay for?
    5. Do you have union fees?
    6. Did you do any short courses for work that you pay for?
    7. Do you purchase stationery?
    8. Do you use your telephone or home internet?
    9. Do you do any work from home? If so, how many hours per week?
    10. Do you purchase tools or equipment?
  9. Do you make any gifts or donations to charities?
  10. Cost of getting your tax return prepared last year?
  11. Do you have sickness & accident insurance?
  12. Do you have private health care? (if you do and are married you will need to have your partners taxable income for the year, as this has to be included)
  13. Do you have dependent children? Names and dates of birth
  14. Did you go to a remote area during the year?
  15. Do you pay PAYG instalments?
  16. Do you have a HELP debt or a Financial Supplement Loan?

Hope this helps get you ready for tax time. If you have any questions please just give me a call on (07) 4041 7747.

See you all soon.


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