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Tax Return Documentation Reference Sheet

This document provides a guide for taxpayers to prepare documentation needed for filing their tax return. It lists types of income documentation including business and employment income records. It also lists categories of deductible business and employment expenses and provides examples of expenses that can be claimed. Other deductible items like donations and interest expenses are mentioned. The guide requests records of private health insurance, medical expenses, spouse income and any other relevant tax information.

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Baljeet Singh
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109 views3 pages

Tax Return Documentation Reference Sheet

This document provides a guide for taxpayers to prepare documentation needed for filing their tax return. It lists types of income documentation including business and employment income records. It also lists categories of deductible business and employment expenses and provides examples of expenses that can be claimed. Other deductible items like donations and interest expenses are mentioned. The guide requests records of private health insurance, medical expenses, spouse income and any other relevant tax information.

Uploaded by

Baljeet Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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[your logo here]

Tax Return Documentation


Reference Sheet
[your business name here] Professional SEO
Prepared by [your name here]

[your business name here]

This is simply a guide to assist you in preparing any documentation, or business related
information that may be needed when filing your tax.

1. INCOME

 Records of your business income for each year


o Copies of sales invoices provided to your clients/customers, and/or
o Copies of your bank statements in which your income is deposited, and/or
o Copies of summaries of your income – showing date, payer, amount, GST (if applicable),
date received etc

 Records of your employment income for each year


o Payment Summaries/Group Certificates from your employer(s)

 Records of income for the following (and details of any expenses relating to this income):
o Interest income
o Dividend income
o Rental income (purchase documents & details of any depreciation schedules)
o Lump Sums
o Capital Gains (please provide purchase & sale documents & capital expenses)

Other income (any other money you have received that you think may be income)

2. EXPENSES

 Records of all BUSINESS expenses:


o Copies of your purchase invoices provided by the supplier, and/or
o Copies of summaries of your expenses for which you can substantiate – showing date,
supplier, amount, GST (if applicable), date paid etc.
o Copies of bank accounts and/or credit card statements to support the above (if required)
o Details of all fixed assets purchased for each year – provide purchase invoices or a
summary of them showing date of purchase, item(s), amount per item, and business use

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 Types of BUSINESS expenses you could claim are as follows:


o Accounting Fees
o Advertising Expenses
o Bank Charges
o Borrowing Expenses
o Business Name Registration Renewals
o Cleaning Expenses
o Computer Expenses
o Consultant’s Fees
o Contractors Fees
o Depreciation (I will calculate this for all fixed assets that you have purchased and used for
business)
o Electricity
o Freight & Cartage
o Gardening Expenses
o Hire of Equipment
o Insurance
o Interest Expenses
o Internet Expenses
o Legal Expenses
o Licence renewals
o Materials
o Motor Vehicle Expenses
 If a 1 tonne ute and it is used for business, we can claim all fuel, rego, insurance,
repairs, servicing, tyres, interest on finance etc.
 If other vehicle, we can claim the logbook proportion of the above vehicle
expenses or we can claim c/klm for maximum of 5000klm if you don’t have a
logbook
o Office Expenses
o Parking Expenses
o Postage
o Printing & Stationery
o Purchases (stock)
o Rent
o Repairs & Maintenance
o Salaries & Wages
o Staff Amenities
o Staff Training
o Subscriptions & Publications
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o Telephone Expenses (including landline and mobile)
o Tolls
o Tool Replacements
o Training Expenses
o Travel Expenses (meals, accommodation etc for overnight travel for business)
o Uniforms & Protective Clothing

 Records of EMPLOYMENT expenses (in relation to the income earned on your payment
summaries/group certificates) – provide all documents to support the following expenses:
o MV travel for work purposes
o Other travel for work purposes
o Uniforms purchased and laundered (we can claim $1 per load without receipts)
o Self-education expenses in relation to your current employment
o Other work-related expenses
 Printing & Stationery
 Membership to professional/trade associations
 Union fees
 Use of own telephone/mobile for work
 Use of home office for work
 Tools & other equip incl outdoor protective equip – sunglasses, sunscreen etc
 Equipment used for work – depreciation will be calculated on each item
 Other expenses

 Records of other Tax Deductible Expenses:


o Donations made to Deductible Gift Recipients that you have receipts for
o Interest expenses in relation to income earned
o Costs for managing your tax affairs
o Income Protection Insurance
o Personal superannuation contributions made to a complying superannuation fund

 Records of other items:


o Private Health Cover – annual statement from your fund
o Medical Expenses and relevant refunds from Medicare and/or Private Health Cover if the
total of your out-of-pocket in any year is > $1500
o Details of spouse and their taxable income for each year
o Any other information that may be relevant to your tax situation.

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