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  • Income Items
    • Bank statements indicating the nature of each deposit.
    • Reconciled cashbook including drawings taken from the business before banking.
    • Debtors listing.
    • QuickBooks/MYOB files.
    • Bank statements with total interest received.
    • Statements of rental income received.
    • Statements of shares purchased, sold or held.
    • Dividend statements.
    • Disposal of plant and property.
    • Capital gains.
    • Details of any assessable government industry payments.
    • Bank statements, receipts, invoices, cash book records of any other income.
    • Annual turnover.
  • Expenses Items
    • Statements for all loans owing by the business, with an end of financial year balance and interest paid.
    • Copies of payment summaries and annual reconciliation for salaries and wages.
    • Information relating to super contributions made for each employee and director.
    • Rental property expenditure.
    • Motor vehicles expenditure and log books.
    • Travel expenses.
    • Details of insurance policy, provider, premiums, amount covered.
    • List all business assets showing date of purchase, price, description, hire purchase or lease details.
    • Details of any repairs or maintenance to business assets during the tax year.
    • Leased plant and motor vehicles.
    • Superannuation contributions.
    • Petty cash expenditure summary, expense items
    • Documentation of other items you think might be deductible – cheque butts, receipts.
  • Other Items
    • Bank statement with BSB number, account name and account number.
    • Value of opening stock and closing stock.
    • Invoices showing value of purchases made throughout the year.
    • Value of work in progress.
    • Creditor and debtor details.
    • Information about payments to related parties eg loans to family members.
    • Personal income tax/investment details.
    • Spouse/children income and investment details.

Tax Checklist
  John F. Smith

on January 2, 2012

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