Your tax checklist: Don’t leave for your tax appointment without these documents

You might be entitled to an amazing tax refund this year, but unless you are organised and have your paperwork in order, you could be missing out on some serious cash. We’ve answered some of your burning questions to help you get the best refund back this tax time. Our handy checklist will help you know exactly what you can claim, what receipts you need to keep and how to maximise your return.

What will I need to bring?

So we can make the most of your tax appointment, you will need to bring a few documents and receipts with you. These include:

Income statement
These are needed to prove any money you made this financial year. This includes:

  • PAYG Payment Summaries (previously Group Certificates) You should be provided a copy from your employer.
  • Payment Summaries from Centrelink for example, Newstart, Youth Allowance, Disability Pension
  • Eligible termination payments
  • Any interest earned from bank accounts
  • Share dividend statements
  • Any money made from the sharing economy – for example if you’re an Uber driver, or rented out your home on AirBnB or
  • Any money made on eBay or other websites
  • Any cash payments you received
  • Annual tax statements from trusts, managed investments, property and cash management trusts
  • Income and expenses from investment properties

Deductions and expenses

  • A list of work-related expenses (with receipts). This includes your motor vehicle log
  • Receipts from charity donations
  • Interest and fees on investment loans
  • Donations to charities (unless you get a ticket to win something in return, those ones don’t count)
  • School building levies and library funds
  • Accountancy fees charged for previous year’s tax return
  • Income protection insurance
  • Sickness and accident insurance
  • Private health insurance
  • Any extra superannuation contributions
  • Amount of HELP debt or Financial Supplement loans outstanding
  • Out of pocket medical expenses for disability aids only in excess of $2,265

Also bring in the details of your spouse, including their date of birth and taxable income to check if you may be eligible for tax benefits.

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Why ITP?

We’ve built a proud reputation of excellence over the past 45 years. And we must be doing something right – ITP was voted Australia’s most trusted accounting and tax service. ITP is a full-service accounting firm without the full-service cost. Get support for your income tax as an employee, start-up, small business or freelancer with the right tools and advice. Whether you need an individual tax return or your business taxes taken care of, we can do it all. Leave it to the Income Tax Professionals and find out why we’re Australia’s favourite tax service.