MAKE TAX TIME PLAIN SAILING !

You will save yourself time and money by providing all information required to complete your income tax returns in one visit. Please make use of this checklist of items that we require from businesses (ignore items irrelevant to you).

Cashbooks, cheque butts, deposit books and bank statements to June 30. Sundry debtors at June 30 listed and totalled. Sundry creditors at June 30 listed and totalled. Stock on hand at June 30, listed and totalled. Loan account bank statements to June 30. Loans and leases - a copy of new lease, loan or HP agreements. Write a brief description next to the following in your cheque records or cashbook: Repairs and maintenance (particularly amounts over $100). Capital expenditure, ie plant and equipment, office furniture, vehicles, etc bought and sold. Include trade-in details. Sundries. We will need to detail any expense items in your tax return if there are significant increases from the previous year. Interest received on savings with banks, building societies and other financial institutions, and in whose names if a joint account. Group certificates if you or your partner were employed before setting up your business, or if you earned wages outside your business. Dividends received - detail amount received, from whom received, in whose name, plus any imputation credits.

Rent received from a rental property and all relevant expenses, eg rates, interest on loan, insurance, repairs and improvements made. Any income from other investments, eg unit and property trusts, shares, interest bearing deposits, or other business in which you hold an interest. Gifts to charities, school building funds, political parties, etc - details to whom and how much. Details of business expenses paid in cash rather than by cheque. Capital gains on sale of assets - include details of original costs and dates incurred, together with details of sale. Family medical expenses if over $1,000 after insurance refunds, including dental, pharmacies, and opticians. Profits on life insurance policies or friendly society bonds, giving date policy started. PPS tax system payment summaries for contract income. Details of superannuation contributions and notice from Fund confirming amount to claim. Company statutory file of meeting minutes, registers, etc.

return to top of page