| 2004 Tax Checklist: Help Us Help You - Personal |
| Your Personal Checklist |
Use these handy checklists to give this office the information we need to prepare your personal and/or business tax return
To ensure the maximum deductions to which you are entitled ? and in consideration of the penalty provisions, please supply FULL details of any claim with supporting documentation. For employee taxpayers and for travel and motor vehicle claims by self-employed taxpayers, documentation must be a receipt, invoice or similar document that contains certain details. For other taxpayers, documentation may comprise receipts, dockets, diary notations or reasonable and supportable estimates.
Income:
Gross salary, wages, other income (include PAYG payment summary).
Directors Fees.
Prescribed Payment Deductions forms, annual payment summaries.
Details of any non-cash benefits received, Reportable Frings Benefits.
Lump sum and termination payments. All documentation should be provided including the Statement of Termination Payment from employer or fund.
Government social security payments, including pensions, unemployment and sickness benefits, family tax assistance.
Detail of any sale of property (eg. shares/real estate) including dates of acquisition, particularly any post 19 September 1985 property, detailing costs and dates.
Annuities including allocated pensions.
Income from trusts and partnerships, which should include a break-up of primary production income, other income, tax-free distributions, franked dividends.
Rental income.
Interest received and tax deducted. Bank fees.
Dividends received including details of unfranked and franked dividends, tax deducted, and imputation credits.
Cashed life assurance bonuses where the policy was held for less than ten years.
Foreign source (employment and pension) income; details of any foreign tax credit attached to that income.
Work Deductions:
Investment and property income expenses (carefully detail interest claims).
Subscriptions ? do not include sporting and/or social clubs.
Records of expenditure related to your employment such as:-
- work related motor vehicle and log book
- other work related travel ? taxis, parking
University degrees for new skills.
Self-education and work related seminars
Protective clothing
- sun protection for outdoor workers
- expenses related to harsh or hazardous working conditions
Donations over $2.00
For self-employed persons and those without employer superannuation support, details of super contributions made.
Tax agent?s fees and other accounting and audit fees.
Special deductions (Australian films, investment shelters and forestry-type schemes.)
Bank fees (where credit or deposit represents assessable income).
Home office ? Employees heat, light, power and depreciation on office equipment to extent it is used for earning income.
Overseas travel diary.
Rebates:
Any changes in dependents (income of spouse should be provided).
Net out of pocket medical expenses if they exceed $1,500 in total.
Super contributions made by employees with employer super support and whose assessable income is less that $32,500.
Undeducted contributions to super funds.
Details of private health fund membership.
Additional Information:
Details of any HECS debt.
Spouse super contributions max rebate $540 including details of spouse income.
Employees ? Non deductible expenses:
Admission Fees ? For lawyers and other professionals ? capital cost
Child Care Fees
Conventional Clothing ? To be allowed you need to demonstrate abnormal circumstances.
Club membership fees.
Employment agreements ? Existing/new employer
Prescription Glasses and Contact Lenses
Grooming ? (Moisturisers allowed for flight attendants)
Occupancy Expenses ? Interest, rent, insurance and land tax possible (claim if used as a place of business).
Meals ? eaten during normal working day.
Meals when travelling unless overnight.
Newspapers ? unless directly related to income earning.
Removal and relocation costs.
Social Functions.
Sports club memberships.
Sun protection ? (allowable for outdoor workers)
Superannuation contributions.
Telephone installation and connection.
Silent telephone number.
Tools if cost more than $300.
Travel between home and work.
Travel if on call.
1st-June-2004 |
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