Your time is valuable. Whether you are lodging a business tax return or a personal tax return, the process always seems to take a long time. That’s why Perth Mobile Tax makes the process easier by coming to your business or residence to perform the work.

Many times, however, we find that our clients are not fully prepared for the work needed before lodging. If this sounds like you, read on to find out what documents are needed for tax return preparation. Having these on hand will not only make our work easier but will also lessen the time needed for lodging and getting that hard-earned Tax Refund!

Checklist:

The Basics

You will need your:

  • Tax file number
  • Bank details (BSB and account number) to receive any refund owed

Details Of Your Income And Expenses

These could include:

  • Details from payment summaries from employers, super funds, Centrelink or Department of Veterans’ Affairs.
  • Statements from banks and financial institutions showing interest received.
  • Details of foreign pensions or other foreign income received.
  • Employment termination payment summaries.
  • Receipts for gifts, donations, and work-related expenses.
  • Details of any child support payments made.

If you have a spouse, you will need details of their income and related expenses – We complete the Spouse income test questions to ensure we get your entitlements right and you are not paying any more medicare levy than you should.

Investments

Most people have some type of investments, even if they are small, whether they be units, shares, managed funds or anything else that qualifies as an investment. Your documents should show dividends and distributions from managed funds, as well as gains and losses, if applicable.
If you have shares, units, managed funds or other investments you will need details of:

  • Dividend payments and distributions from managed funds.
  • Any investment gains or losses from the disposal of shares, units and rental properties.

Rental Properties

If you own at least one rental property where you have tenants who provide income, you’ll also need details of all income and expenses for each of your properties.
If you own a rental property we will ask details of:

  • Rental income earned
  • Interest charged on money you borrowed for the rental property
  • Other expenses relating to the property, including rates, Insurance, Repairs and any expenditure on capital works.

Once you have all needed paperwork, you’re ready to work with one of the tax and accounting experts at Perth Mobile Tax. You may want to consider opening a MyGov Account which allows you to manage your personal tax details as well as track the status of your tax return.