2019 Tax Return Items to Consider

The following lists outline the income and deductions for most people and are a good starting point to maximise your deductions and ensure that your tax return is complete. For some people there may be other income & deductions so please talk to us to see if they apply to you.

Income
☐ Employment Income (salary/wages) PAYG Payment Summaries
☐ Allowances / Tips / Director’s Fees
☐ Employer Lump Sum Payment
☐ Employment Termination Payment (ETP)
☐ Centrelink / Pension Income
☐ Annuities / Super Lump Sum Payments
☐ Interest Amounts & TFN Credits
☐ Dividends, Imputation & TFN Credits (Yes, even if dividends have been reinvested!)
☐ Employee Share Schemes
☐ Partnership & Trust Distributions
☐ Business Income
☐ Capital Gains/Losses (eg Sale of shares, or property-whether it was income producing or not)
☐ Foreign Income- from investments or from working overseas
☐ Rental Property Income
☐ Jury Duty income, Election Day income

Other Items to Consider
☐ HELP (Higher Education Loan Program) / HECS
☐ SFSS (Student Financial Supplement Scheme)
☐ Child Support Agency Liability (& amount of child support already paid)
☐ Health Insurance Statement☐ Advise ATO if name has changed during the year
☐ No of dependents as at 30/6/19 General Tax Deductions
☐ Work Related Motor Vehicle Expenses (Log Book may be required)
☐ Work Related Travel Expenses (Travel Diary may be required)
☐ Work Related Clothing & Laundry Expenses
☐ Work Related Self-Education Expenses
☐ Other Work Related Expenses (see below)
☐ Interest & Dividend Deductions
☐ Gifts & Donations
☐ Tax Related Expenses
☐ Undeducted Purchase Price-Pension / Annuity
☐ Investment Property expenses (Rates, Interest, Repairs, Advertising, Insurance, Management fees etc – Real Estate annual statement if you have one is easier)

Specific Deductions
☐ Income Protection Insurance
☐ Union Fees
☐ Home Office Expenses ( number of hours)
☐ Seminars / Courses / Conferences
☐ Overtime Meal Expenses
☐ Briefcase, Bag for Laptop/tablet
☐ Tools & Equipment
☐ Depreciation on work-related assets
☐ Calculator / Laptop / Tablet
☐ Computer Costs (includes repairs & printing costs)
☐ Software
☐ Memberships & Subscriptions
☐ Phone / Mobile Phone / Internet
☐ Bank Fees (e.g. re: deductible purchases)
☐ Interest Expenses (e.g. re: deductible purchases)
☐ Sun Protection Items (e.g. sunscreens, safety glasses, protective gloves)
☐ Reference Books / Journals / Trade Magazines

Talk to Stuart TODAY for expert assistance to prepare your 2019 Tax Return & get advice how to maximise your tax refund next year! Next work out how you will spend your refund!

The information in this document is of a general nature and does not take into account your individual needs and objectives. Please do not act on any information in this document before seeking advice from a qualified Accountant and a licensed Financial Planner. © 2019 Excel Financial Advisors Pty Ltd

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