What To Take To A Tax Return Appointment With Your Accountant?

If you have an appointment with your accountant about your tax return, there are several documents that you must take with you. It’s important to get organised and have the documents together at least a day before your appointment. Some accountants allow you to upload documentation to an online portal before your appointment so if this is necessary, make sure you have done it in advance. Hopefully, you have kept detailed records and receipts and everything will be in one place. If not, make sure you start now.

Which documents do I need to find?

In order to work out how much tax you will pay and whether you are eligible for any rebates, your accountant will need to know how much has gone in and out of your accounts. You will need to provide documents to prove your income from as many sources that you receive income from. This could include cash payments, any rental income, online income and anything earned from the sharing economy, such as Uber driving. You also need to prove what you have spent, as many of these will be tax-deductible. If you have access to online banking, this is a great tool to make sure you have got all of your expenses accounted for. Keep receipts wherever possible for work expenses.

Document checklist for tax return appointment

At Total Business Partners, we have created a handy document checklist so you have everything you need for your tax return appointment.

Proof of income

First of all, you need to be able to prove your income. There are several documents that you can use for this and they include:

  • PAYG payment summaries from your employers
  • Payments from government
  • Money made from the sharing economy (eg Uber or Airbnb)
  • Rental income
  • Allowances
  • Cash payments
  • Money made online
  • Eligible termination papers
  • Dividends
  • Interest earned from bank accounts
  • Payment summaries from partnerships or trusts
  • Government pensions
  • Payment summaries for superannuation income streams or lump sums

You may not need all of these documents, just the ones that are applicable to you and your income. You might as well take extra documents than not have enough!

Expenses and deductions

  • Work-related expenses, with receipts
  • Travel expenses (your motor log)
  • Sickness and accident insurance
  • Income protection insurance
  • Proof of donations to charities
  • Private health insurance
  • Tools and equipment
  • Home office expenses
  • Fees for advice or services
  • Costs associated with rental properties
  • Depreciation costs

Again, not all of these documents may be applicable to you, but it is worth making sure you can prove as much as possible.

Extra documents to bring

You may be eligible for tax benefits if you are married so bring the details of your partner’s taxable income too. It is always worth taking proof of ID (like your driving license or passport) and proof of address too (this could be a recent utility bill). Try and keep your documents as organised as possible, and make sure everything is dated too.

If you are looking for a new accountant on the Sunshine Coast or in Redcliffe, get in touch with us today.