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2011 Tax Return Checklist

2011 Individual Tax Return

Information

Information Provided

Not Applicable

Income



PAYG summaries eg from employers



Lump sum payments (eg Employment Termination Payment)



Trust distribution statement, including copy of the trust’s tax return



Managed fund annual tax statement and capital gains tax statement



Partnership distribution statement, including a copy of the partnership’s tax return



Dividend statements



Bank statements stating interest earned



Term deposit statements stating interest earned



Buy/sell contract notes for shares (if any shares were sold)



Work-related Deductions



Details of depreciable assets bought during the year (eg laptops)



Professional journals / magazines



Professional memberships / subscriptions



Receipts for continuing professional development courses and seminars



Receipts for self-education expenses



Receipts for other work related deductions such as protective clothing, uniform expenses and travel



Vehicle logbook for motor vehicle expenses (if using the logbook method)



Other Deductions



Receipts for donations of $2 and over to registered charities



Expenditure incurred in managing tax affairs (eg tax agent’s fees)



Expenditure incurred in earning investment income



Income protection insurance premiums



Rental Properties



Annual statement from property agent (if engaging the services of an agent)



Date when property was purchased



Details of depreciable assets bought or disposed during the year



Expenses incurred, which are not detailed on the property agent annual statement, such as water charges, land tax and insurance premiums



If property is held by more than one individual, please provide details of owners and their legal ownership percentage



If property was disposed of during the income year, information relating to dates and costs associated with the acquistion and disposal of the property



Loan statements for property showing interest paid for the income year



Period property was rented out during the income year



Records detailing rental income (if not engaging the services of an agent)



Records of expenses relating to the property (if not engaging the services of an agent)



Offsets / Rebates



Details of any superannuation contributions for spouse



Details of dependants, including their age, occupation and income



Details of medical expenses where the total exceeds $2,000 (after Medicare and private health fund rebates)



Private health insurance statement (if insurance is held with your partner, please state who is the primary holder and provide the age of your partner)



Expenses relating to children's education (primary and secondary)



If Operating as a Sole Trader



Cashbook, which includes records of drawings taken before the business takings were banked



Copies of Business Activity Statements lodged



Copies of PAYG summaries for employees



Details of any Government grants, rebates or payments received



Details of superannuation contributions for employees



Details of any assets purchased, including date of purchase and amount



Payments of salaries and superannuation to associates



Records from accounting software (eg trial balance, P&L and balance sheet)



Statements of all liabilities of the business



Notice of superannuation contributions for self-employed persons



Other Information



Copies of Instalment Activity Statements lodged



If you have any doubt about any income or expenses you have received or incurred, bring the documents in with you



Any other information that you think is relevant



2011 Superannuation Fund Tax Return Checklist

Information

Information Provided

Not Applicable

Bank Statements



Bank statements for the period 1 July 2010 to 30 June 2011



Details of all deposits and withdrawals



Cheque book butts and deposit books



Investments



Copies of annual tax statements for investments in forestry managed schemes



Copies of any off-market transfer forms for any in-specie contributions



Copies of confirmation for purchase in forestry managed investment schemes



Copies of confirmation for units purchased in managed funds



Copies of contract notes and settlement statements for any shares purchased



Copies of distribution statement from trust



Copies of maturity notices for term deposits



Copies of sell notes and settlement statements for shares sold (include original contract notes if possible)



Copies of sell notes for units in managed funds sold (include original purchase notes if possible)



Details of any investments acquired from members or their associates during the income year



Details of any other investment assets purchased and sold



Details of investment in related parties, including any outstanding distributions to be received



Managed funds distribution statements, annual tax statements and capital gains statements



Dividend statements



Statements of returns of capital (from shares)



Contributions Received



Records of all employer contributions (including salary sacrifice contributions)



Records of any undeducted personal contributions



Records of any contributions where no TFN was quoted



Written notices from members stating intention to claim deductions for their personal contributions



Acknowledgement notices by trustee to members confirming receipt of notices for personal contributions



Rollovers



Details of inward rollovers



Details of outward rollovers



Insurance Policies



Copies of annual life insurance policy provided for members



Copies of death or disability policy provided for members



Benefits Paid



Copies of any lump sum benefits paid to members



Details of pensions paid to members, including copies of PAYG summaries if applicable



Common deductions



Death or disability premiums



Approved auditor's fees paid



Investment expenses, including nature of the expenses



Management and administrative expenses, including nature of the expenses



Other Information



Details of any derivatives and instalment warrants entered into



Auditor’s report for the previous financial year



Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year



Copies of minutes of meetings



Copies of trustee declarations for any new trustees, or directors of corporate trustees



Copy of investment strategy



Record of all members as at 30 June 2011



If you have any doubt about any income or expenses you have received or incurred, bring the documents in with you



Any other information that you think is relevant



2011 Company, Trust or Partnership Tax Return Checklist 

Information Required

Information Provided

Not Applicable

Income



Accounting information, including trial balance, P&L and balance sheet



Asset register detailing depreciable assets bought and sold or scrapped during the year



Cashbook (if maintained)



Copies of sell notes and settlement statements for shares sold (include original contract notes and settlement statements if possible)



Copies of sell notes for units in managed funds sold (include original purchase notes if possible)



Details of any other income such as rental income



Details of any other investment income



Details of any subsidies, grants and payments received



Details of interest and repayments received from shareholders



Details of proceeds from disposal of capital assets



Managed funds distribution statements, annual tax statements and capital gains statements



Dividend statements



Deductions



Details of advertising and marketing expenses



Details of bad debts actually written off during the year



Details of bonuses and commissions paid to employees



Details of bonuses and commissions paid to external parties



Details of bonuses paid to directors



Details of borrowing costs for new loans entered into during the year



Details of directors’ fees



Details of donations of $2 and over to registered charities



Details of entertainment expenses



Details of expenses associated with establishing, expanding, merging or liquidating the entity, that were incurred during the year



Details of fringe benefits tax paid (please provide FBT return lodged)



Details of interest on loans



Details of lease expenses for motor vehicles, premises and equipment



Details of legal expenses



Details of lump sum payments (including retirement and redundancy)



Details of motor vehicle expenses



Details of prepayments



Details of professional subscriptions and journals



Details of rates, land taxes and insurance premiums



Details of repairs and maintenance



Details of research and development activities and expenses



Details of royalties paid



Details of salaries paid, including fringe benefits (please provide PAYG summaries)



Details of superannuation contributions for directors



Details of superannuation contributions for employees



Details of tax, and accounting and audit fees paid



Details of any assets purchased, including date of purchase and amount



Details of travel expenses (include travel diaries)



Balance Sheet – Assets



Asset register detailing depreciable assets bought and sold or scrapped during the year



Bank statements



Cheque book butts and deposit books



Copies of confirmation for any units in managed funds purchased



Copies of contract notes and settlement statements for any shares purchased



Details of any other investments purchased



Details of capital assets purchased during the year



Details of leases entered into and terminated during the year



Details of loans, payments, forgiveness of debts, or provision for use of assets to shareholders or their associates



Details of work-in-progress



Listing of trade debtors with amounts outstanding



Value of stock as at 30 June 2010 (and basis of valuation)



Balance Sheet – Liabilities



Accrued expenses (eg audit fees and bonuses) and unearned revenue



Details of all loans



Listing of trade creditors with amounts owing



Provisions for long service leave and annual leave



Statements from the lending authority detailing the opening and closing balances of existing loans during the financial year



Balance Sheet – Equity



Details of any changes to shareholding



Details of loans from shareholders or partners



Details of any increase of decrease to reserves



Addition Information – Company



Loans, payments, debt forgiveness, or use of assets given to shareholders or associates of the shareholders, if private company



Auditor’s report (if applicable)



Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year



Copies of minutes of company meetings



If you have any doubt about any income or expenses the company has received or incurred, bring the documents in with you



Any other information that you think is relevant



Additional Information – Trust



Unpaid present entitlements to a corporate beneficiary who is an associate of the trust



Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year



Copies of minutes of trust meetings, in particular distribution resolutions



Copy of trust deed, if not already supplied



Details of any units redeemed or issued during the year (for a unit trust)



Details of any unpaid present entitlements to beneficiaries



If trust’s deed was amended during the year, please provide details



If you have any doubt about any income or expenses the trust has received or incurred, bring the documents in with you



Additional Information – Partnership



Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year



Copies of minutes of partnership meetings



Copy of partnership agreement



If the partnership was restructured during the year, please provide details



If you have any doubt about any income or expenses the partnership has received or incurred, bring the documents in with you



 

To download this hand Tax Return Checklist in PDF, simply click here!

 

 

 

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Contact:

Daniel Clements
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Paul Clements
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T: + 61 3 8618 2222