It is the start of a new financial year and many of you would be preparing the paperwork to lodge your tax return for the financial year ending 30 June 2023.

 

The following checklist itemises what will be required.

 

Income

• Pay As You Go (PAYG) Payment Summary - Individual non business from your employer/s

• Interest earned on your bank accounts

• Dividend payment advices received on shares held including foreign shares, if any

• Buy and Sell contract notes for shares sold, if any

• PAYG Payment Summary – Pension and allowances received from Centrelink

• PAYG Payment Summary – Superannuation lump sum or Income Stream received from your superannuation fund

• Any other income received eg income protection insurance payout, jury duty payments.

 

Expenses (work related proportion only)

• Car expenses incurred eg petrol, registration, insurance, parking and tolls

• Other travel expenses eg airfares, public transport, taxis, etc

• Accommodation and meals for domestic and international travel

• Purchase, laundry and dry cleaning of compulsory work uniforms

• Membership fees paid to professional associations and unions

• Office stationery and accessories purchased

• Electronic equipment purchased eg mobile phone, laptop, desktop, tablet

• Self-education expenses incurred eg course fees, textbooks, student union fees, travel to/from TAFE/Uni, car expenses, internet and mobile phone plan, laptop, desktop, and tablet

• Tax Agent fees

• Private Health Insurance Annual Tax Statement.

 

If you have an investment property

•  Rental statement received from the property management agent

• Mortgage interest statement

• Council and water rates, strata levies

• Cleaning and waste disposal

• Tax depreciation schedule, if any

• Insurance premiums paid

• Land tax paid

• Repairs and maintenance expense incurred eg electrical, plumbing

• Gardening and lawn mowing expenses

• Any other out of pocket expenses incurred.

 

 

If you would like any further information, please feel free to contact us. We would be happy to help.

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This article is generic in nature for the purpose of education. Bartly Pty Ltd (Bartly) is not responsible for any loss or damage incurred in any way shape or form and will not be liable to anyone whatsoever for the use of information contained in this article. You should not rely solely on this article to make any investment or tax planning decisions. We recommend you seek independent professional advice that relates specifically to your situation.