Individual Tax Checklist


1.    PAYG payment summaries for salary and wages
2.    Lump sum and termination payments
3.    Employer Allowances (i.e., motor vehicle)
4.    Government pensions and allowances
5.    Interest (Bank and cash management accounts)
6.    Dividends
7.    Rental Income
8.    Trust distributions
9.    Partnership distributions
10.    Managed fund investment income (dividends and capital)
11.    Income from foreign sources
12.    Details of capital gains events, i.e., assets that were sold during the year and were used for income earning purposes - Capital Gains Tax (CGT)


1.    Allowance deductions
2.    Bank charges on investment accounts only
3.    Reference books / Journals
4.    Car travel (Log book or Km estimate with justification)
5.    Conference / Education (Registration, travel, taxi, accommodation, other)
6.    Depreciation of assets, i.e., computer equipment, library, furniture, tools
7.    Donations and gifts
8.    Educational expenses (i.e., Fees, travel, exams, union, borrowing costs, childcare)
9.    Financial planning / advising fees (in certain circumstances)
10.    Home office (Internet, phone, cooling / heating, electricity, cleaning)
11.    Interest and dividend deductions on investment borrowings
12.    Income protection insurance
13.    Journals, publications and magazines
14.    Laundry and dry cleaning for work related clothing
15.    Library
16.    Parking Fees
17.    Professional associations
18.    Professional insurance

19.    Rental deductions
a.         Repairs and maintenance
b.         Interest charges
c.         Bank fees
d.         Body corporate / owners corporation
e.         Insurance
f.          Land tax
h.        Council Rates
i.         Water Rates

20.    Safety Equipment
21.    Stationery, printing and postage
22.    Subscriptions / associations
23.    Superannuation contributions
24.    Sun protection items
25.    Taxation advice
26.    Tolls (roads and bridges)
27.    Mobile phone (Costs, connection and calls)
28.    Uniform Expenses
29.    Union dues / RMO fees


1.    HECS / HELP / SFSS Statement
2.    Health insurance details
3.    Adequate insurance cover
4.    Review of your superannuation balance(s)
5.    Wills
6.    Power of Attorney
7.    Binding Death Benefit Nominations

8.    Tax Offsets
a.         Beneficiary
b.         Lump sum
c.         Pensioner offset
d.         Foreign income tax offset
e.         Low income offset

9.      Medicare levy
10.    Medicare levy surcharge

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
Phone +61 3 9428 1062

Please refer to disclaimer at the bottom of the page.

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