To ensure a smooth and efficient process when completing your tax return, it’s important to have all the necessary information and documents ready. Here’s a comprehensive list based on guidance from the Australian Taxation Office (ATO).

1. Personal and Financial Details:

  • Your Tax File Number (TFN).
  • Bank account details for your refund (BSB and account number).

2. Income Information:

  • Income statements or payment summaries from all employers.
  • Payment summaries from Centrelink if you received government payments.
  • Statements of any pensions or annuities.
  • Investment income details, including interest, dividends, rent received, and details of any assets sold that could lead to a capital gain or loss.

3. Deductions:

  • Receipts or statements for work-related expenses.
  • Records related to any investment expenses.
  • Information on donations to charities or gifts.

4. Health Insurance:

  • Private health insurance policy details, if applicable.

5. Spouse Details:

  • Information about your spouse’s income, if applicable.

6. Other Information:

  • Details of any foreign income.
  • Information on any business or investment losses.
  • Records of any expenses related to earning your income, including work-related expenses or investment-related expenses.

We use pre-fills for a lot your income information directly from employers, banks, and government agencies by late July. Ensure to verify this pre-filled information and add any additional income or deductions not included. 

Remember, declaring all your income is crucial, including employment income, government payments, super pensions, investment income, and any income from the sharing economy like Uber or Airbnb. For deductions, you may be entitled to claim work-related or investment expenses, including specific deductions if you’ve been working from home. 

For a detailed and personalised checklist, it’s a good idea to consult directly with the ATO’s resources or give us a call. This will ensure you have all the required documentation and information specific to your circumstances, making the process of completing your tax return smoother and more efficient.