2020 Tax Check List

Please do not rely on the pre-filling report from the ATO to provide all your details, especially earlier on in the tax season. This information can take some time to become available and in some cases the information has not been provided by the bank/employer to the ATO.

We still require you to bring in:

  • Any paper payment summaries received
  • Interest amounts
  • Dividends/Investments
  • Rental Property Income and Expenses
  • Motor Vehicle Expenses
  • Work Related Deductions (e.g. receipts for uniform purchases, tools, union fees, stationery)
  • Home and Mobile Phone/Internet use
  • Home Office Expenses (record of hours worked from home)
  • Other Deduction (e.g. tax agent fees, donations to charities, personal super contributions)

For a more detailed checklist of what to bring in, please click on the link below:

http://www.soundtax.com.au/checklists/

 

2020 Tax Tips

  • Purchase tax deductible items, prepay interest on loans, pay income protection insurance premiums before 30th June
  • Make deductible super contributions before 30th June
  • If you have made any capital gains during the year, consider selling any assets that will make a capital loss before 30th June to offset against the gain.
  • Defer receipt of income and sales of capital assets to after 30th June
  • Still have an outstanding account with Sound Tax? Pay this account before 30th June to be able to claim our fee as a deduction.
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