What we need to assist you with your Tax Return
- Payment Summaries
- Employment Termination Payment Statements
- Details of all your income from Investments, Capital Gains, Interest or Business
- Bank Statements (showing interest received)
- Private health insurance statements
- Rental property income & expenses details
- Supporting evidence of work related expenses
- Business income & expenses information
- Tax Returns from previous years
- Details of your previous Accountant (if you operate a business)
When completing your tax return, you are entitled to claim deductions for some expenses that are directly related to earning your income.
You subtract these allowable deductions from your total income to arrive at your taxable income – you only pay tax on your taxable income.
The expense must not be a private, domestic or capital expense. If the expense was both work-related and private or domestic, you can only claim a deduction for the work-related portion.
Examples of possible deductions are:
- Work related vehicle usage
- Self education
- Tax Agent expenses
- Laundry – work clothing
- Membership to Professional Associations