Tax Checklists

DEDUCTIONS (Work related expenses)

Motor vehicle expenses.

Clothing and uniform expenses (including footwear).

Deductions when you buy, repair or launder occupation-specific or protective clothing, or distinctive uniforms.

Self-education expenses (e.g. First Aid Courses).

You can claim a deduction for self-education expenses if the education relates to your employment activities.

Seminars, conferences and training courses.

Deductions for attending seminars, conferences, and first aid or other training courses connected with your work.

Newspapers and other news services, magazines and professional publications.

You can claim a deduction for the cost of buying or subscribing to a professional publication, newspaper, news service or magazine if you can show: a direct connection between your specific work duties and the content. the content is specific to your employment and is not general in nature.

Parking fees and tolls.

You can’t claim a deduction for parking at or near a regular place of work. You also can’t claim a deduction for tolls you incur for trips between your home and regular place of work. These are private expenses.

You can claim a deduction for parking fees and tolls you incur on work-related trips.

Phone, data and internet expenses.

Deductions for mobile phone calls and internet expenses you incur for a work-related purpose, including the device.

Accounting or tax agents fee.

Deduction for expenses to manage your tax affairs, such as lodging with a registered agent.

Taxi, ride-share, public transport and car hire.

Deductions for work-related transport expenses such as flights, trips by train, bus, taxi or ride-share, and tolls.

Tools and equipment.

Deductions for tools or instruments you use for work, including the cost of repairs and insurance.

Travel expenses.

Deductions for travel expenses you incur when you travel and stay away from home overnight for work.

Union and professional association fees.

For the industry you work in, you may claim a deduction for: union fees. subscriptions to trade, business or professional associations. payment of a bargaining agent’s fee to a union for negotiations on a new enterprise agreement or award with your existing employer.

Asset purchase details – Computer

Computers and laptops are generally depreciating assets which decline in value over the time you use them. If when you buy a computer, it includes software as part of the purchase price, you don’t need to break up the costs to calculate the decline in value.

Donations to charity organisation.

Receipts for donations of $2 and more to registered charities.

Investment related expenses.

Deductions for the costs of earning interest, share dividends, or income from other investments.

Superannuation contribution if self-employed.

You may be able to claim a deduction for personal super contributions you make to a complying super fund or retirement savings account (RSA).

To claim a deduction, you must first give your super fund or RSA provider a valid notice of intent and receive an acknowledgment form from your fund or RSA provider.

Before claiming a deduction for personal super contributions, you should consider the impacts on your super.

Sole trader (ABN) expenses.

You may be able to claim a tax deduction for expenses you incur in carrying on your business.

Rental Property

Income/Earnings Documents

Trading income.
Other income (e.g. Rent, Interest, Royalties).
Details of Capital Gains Tax assets (e.g. stock, shares and real estate) sold, including dates of, and costs associated with, acquisition and disposal (including settlement statements and Sale/purchase agreements.
Dividends, including details of franking credits.
Income from foreign sources including details of any foreign taxes paid.
Stocktake details at the financial year end as at 30th June, where applicable

Deductions

Repairs and maintenance.
Salaries, including fringe benefits.
Fringe benefits tax paid.
Rates, land taxes and insurance premiums.
Advertising expenses.
Interest on borrowed monies.
Deductions relating to foreign source income.
Prepaid expenses (subject to transitional rules).
Retirement payments and golden handshakes.
Bad debts actually written off during the year.
Donations of $2 and over depending on the recipient.
Commissions.
Legal expenses.
Losses of previous years (or intra-group transfers).
Superannuation contributions.
Subscriptions.
Motor Vehicle Expenses.
Tax agent’s fees and other accounting and tax audit fees.
Royalties paid.
Start-up costs for a new business.

Balance Sheet

Asset register detailing depreciable assets bought, sold or disposed of during the year and copies of tax invoices.
If not using Cloud software, please provide all bank statements for the financial year.
Details of CGT assets purchased or sold during the year, including contract & settlement sheets.
Details of work-in-progress.
Listing of trade debtors with amounts outstanding at the financial year end as at 30th June & any details of bad debts or uncollectable amounts.
Value of stock at the financial year end as at 30th June (and basis of valuation).
Details of all loans and full financial year bank statements.
Listing of trade creditors with amounts owing at the financial year end as at 30th June.
Statements from any financer’s detailing the opening and closing balances of existing loans during the financial year.
Details of any changes to shareholdings or directorships or new units issued.
Details of any changes to shareholdings or directorships or new units issued.
Details of loans from shareholders or partners.
Details of any Annual Leave or LSL due to employees (if applicable).

Important Notice: ATO Substantiation Rule for Work-Related Expenses

Please be advised that any claims for work-related expenses must comply with the Australian Taxation Office (ATO) Substantiation Rule. This means that to claim a deduction, clients must:

Have spent the money themselves (not reimbursed by their employer).
Have a record to prove it (e.g., receipts, invoices, or bank statements).
Ensure the expense is directly related to earning income and not private in nature.

Failure to meet these conditions may result in deductions being disallowed by the ATO. For more detailed information, please visit the official ATO guidelines on substantiating work-related deductions:
ATO Work-Related Deductions

IMPORTANT DISCLAIMER: This document contains general advice only and is prepared without taking into account your particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should speak to a licensed financial advisor who should assess its relevance to your individual circumstances. While the firm believes the information is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this website is not considered financial product advice for the purposes of the Corporations Act 2001.