Mercia_ Newsletter

All Checklists

2008/2009 Income Tax Return Checklist

2009 Individual Tax Return Checklist
2009 Superannuation Fund Tax Return Checklist
2009 Company Trust or Partnership Tax Return Checklist

2009 Individual Tax Return Checklist

Name of taxpayer:

Address:

Preferred Contact No:

Information	Information Provided	Not Applicable
Income
PAYG summaries from employers, Centrelink and/or superannuation funds
Lump sum payments (eg Employment Termination Payment)
Trust distribution statement, including copy of the trust’s tax return
Managed fund annual tax statement and capital gains tax statement
Partnership distribution statement, including a copy of the partnership’s tax return
Dividend statements
Bank statements detailing interest earned
Term deposit statements detailing interest earned
Buy/sell contract notes for shares (if any shares were sold)
Work-related Deductions
Details of depreciable assets bought during the year (eg laptops)
Professional journals/magazines
Professional memberships/subscriptions
Receipts for continuing professional development courses and seminars
Receipts for self-education expenses
Receipts or evidence of work-related deductions such as protective clothing, uniform expenses and travel
Vehicle logbook for motor vehicle expenses (if using the logbook method)
Other Deductions
Receipts for donations of $2 and over to registered charities
Expenditure incurred in managing tax affairs (eg tax agent’s fees)
Expenditure inccured in earning investment income
Income protection insurance premiums
Rental Properties
Annual statement from property agent (if engaging the services of an agent)
Date of when property was purchased
Details of depreciable assets bought or disposed during the year
Expenses (which are not detailed on the property agent annual statement) incurred, such as water charges, land tax and insurance premiums
If property is held by more than one individual, details of owners and their legal ownership percentage
If property was disposed off during the income year, information relating to dates and costs associated with the acquistion and disposal of the property
Loan statements for property showing interest paid for the income year
Period that property was rented out during the income year
Records detailing rental income (if not engaging the services of an agent)
Records of expenses relating to the property (if not engaging the services of an agent)
Offsets / Rebates
Details of any superannuation contributions for spouse
Details of dependants, including their age, occupation and income
Details of medical expenses where the total exceeds $1,500 (after Medicare and private health fund rebates)
Private health insurance statement (if insurance is held with partner, please state who is the primary holder and provide the age of partner)
If Operating as a Sole Trader
Cashbook, which includes records of drawings taken before the business takings are banked
Copies of Business Activity Statements lodged
Copies of PAYG summaries for employees
Details of any government grants, rebates or payments received
Details of superannuation contributions for employees
Payments of salaries and superannuation to associates
Records from accounting software (eg trial balance, P&L and and balance sheet)
Statements of all liabilities of the business
Superannuation contributions for self-employed persons
Other Information
Copies of Instalment Activity Statements lodged
If you have any doubt about any income or expenses you have received or incurred, bring the documents in with you
Any other information that you think is relevant

2009 Superannuation Fund Tax Return Checklist

Name of taxpayer:

Address:

Preferred Contact No:

Information	Information Provided	Not Applicable
Bank Statements
Bank statements for the period 1 July 2008 to 30 June 2009
Details of all deposits and withdrawals
Cheque books butts and deposit books
Investments
Copies of annual tax statements for investments in forestry managed schemes
Copies of any off-market transfer forms for in-specie contributions
Copies of confirmation of purchase in forestry managed investment schemes
Copies of confirmation of units purchased in managed funds
Copies of contract notes and settlement statements for any shares purchased
Copies of distribution statement from trust
Copies of maturity notices for term deposits
Copies of sell notes and settlement statements for shares sold (include original contract notes if possible)
Copies of sell notes for units in managed funds sold (include original purchase notes if possible)
Details of any investments acquired from members or their associates during the income year
Details of any other investment assets purchased and sold
Details of investment in related parties, including any outstanding distributions to be received
Managed funds distribution statements, annual tax statements and capital gains statements
Dividend statements
Statements of returns of capital (from shares)
Contributions Received
Records of all employer contributions (including salary sacrifice contributions)
Records of any undeducted personal contributions
Records of any contributions where no TFN was quoted
Written notices from members stating intention to claim deductions for their personal contributions
Acknowledgement notices by trustee to members confirming receipt of notices for personal contributions
Rollovers
Details of rollovers into the fund
Insurance Policies
Copies of annual life insurance statements provided for members
Benefits Paid
Copies of any lump sum benefits paid to members
Details of pensions paid to members, including copies of PAYG summaries, if applicable
Other Information
Auditor’s report for the previous financial year and record of audit fees
Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year
Copies of minutes of meetings
Copies of trustee declarations for any new trustees, or directors of corporate trustees
Copy of investment strategy
Record of all members as at 30 June 2009
If you have any doubt about any income or expenses you've received or incurred, bring the documents in with you
Any other information that you think is relevant

2009 Company, Trust or Partnership Tax Return Checklist

Name of taxpayer:

Address:

Preferred Contact No:

Information Required	Information Provided	Not Applicable
Income
Accounting information, including trial balance, P&L and balance sheet
Asset register detailing depreciable assets bought, and sold or scapped during the year
Cashbook (if maintained)
Copies of sell notes and settlement statements for shares sold (include original contract notes and settlement statements if possible)
Copies of sell notes for units in managed funds sold (include original purchase notes if possible)
Details of any other income, eg rental income
Details of any other investment incomes
Details of any subsidies, grants and payments received
Details of interest and repayments received from shareholders
Details of proceeds from disposal of capital assets
Managed funds distribution statements, annual tax statements and capital gains statements
Dividend statements
Deductions
Details of advertising and marketing expenses
Details of bad debts actually written off during the year (provide documentary evidence)
Details of bonuses and commissions paid to employees
Details of bonuses and commissions paid to external parties
Details of bonuses paid to directors
Details of borrowing costs for new loans entered into during the year
Details of directors’ fees
Details of donations of $2 and over to registered charities
Details of entertainment expenses
Details of expenses incurred during the year associated with establishing, expanding, mergering or liquidating the entity
Details of fringe benefits tax paid (please provide FBT return lodged)
Details of interest on loans
Details of lease expenses for motor vehicles, premises and equipment
Details of legal expenses
Details of lump sum payments (including retirement and redundancy)
Details of motor vehicle expenses
Details of prepayments
Details of professional subscriptions and journals
Details of rates, land taxes and insurance premiums
Details of repairs and maintenance
Details of research and development activities and expenses
Details of royalties paid
Details of salaries paid, including fringe benefits (provide PAYG summaries)
Details of superannuation contributions for directors
Details of superannuation contributions for employees
Details of tax, and accounting and audit fees paid
Details of travel expenses (include travel diaries)
Balance Sheet — Assets
Asset register detailing depreciable assets bought and sold or scapped during the year
Bank statements
Cheque book butts and deposit books
Copies of confirmation for any units in managed funds purchased
Copies of contract notes and settlement statements for any shares purchased
Details of any other investments purchased
Details of CGT assets purchased during the year
Details of leases entered into and terminated during the year
Details of loans, payments of forgiveness of debts to shareholders or their associates
Details of work-in-progress
Listing of trade debtors with amounts outstanding
Value of stock as at 30 June 2009 (and basis of valuation)
Balance Sheet — Liabilities
Accrued expenses (eg audit fees and bonuses) and unearned revenue
Details of all loans
Listing of trade creditors with amounts owing
Provisions for long service leave and annual leave
Statements from the lending authority detailing the opening and closing balances of existing loans during the financial year
Balance Sheet — Equity
Details of any changes to shareholding
Details of loans from shareholders or partners
Details of any increase of decrease to reserves
Addition Information — Company
Auditor’s report (if applicable)
Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year
Copies of minutes of company meetings
If you have any doubt about any income or expenses the company has received or incurred, bring the documents in with you
Any other information that you think is relevant
Additional Information — Trust
Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year
Copies of minutes of trust meetings, in particular distribution resolutions
Copy of trust deed, if not already supplied
Details of any units redeemed or issued during the year (for a unit trust)
Details of any unpaid present entitlements to beneficiaries
If trust’s deed was amended during the year, please provide details
If you have any doubt about any income or expenses the trust has received or incurred, bring the documents in with you
Additional Information — Partnership
Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year
Copies of minutes of partnership meetings
Copy of partnership agreement
If the partnership was restructured during the year, please provide details
If you have any doubt about any income or expenses the partnership has received or incurred, bring the documents in with you

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