Company, Partnership or Trust tax return: basic checklist
The list below summarises the essential taxation information required for your tax lodgment. You should prepare the relevant substantiation documents (preferably in advance of your first appointment with us) and bring them along with you in order to allow our tax agents to speed up the lodgment process with the ATO.
It is advisable to print out and fill-in the table below, to make sure you did not omit to provide any tax or accounting related documents that may be required for the tax lodgement. You can fax or email this straight to us, or if you prefer you can bring it with you at the time of your appointment.
2009 Company, Trust or Partnership Tax Return Checklist
| Name of Entity: |
| Address: |
| Representative: |
| Contact No: |
| Relevant Information |
Tick if available |
Income
| Accounting information, including trial balance, P&L and balance sheet |
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| Asset register detailing depreciable assets bought, sold or scrapped during the year |
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| Cashbook (if maintained) |
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| Copies of sell notes and settlement statements for shares sold (include original contract notes and settlement statements if possible) |
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| Copies of sell notes for units in managed funds sold (include preferably original purchase notes) |
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| Details of any other income, such as rental income |
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| Details of any other investment incomes |
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| Details of any subsidies, grants and payments received |
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| Details of interest and repayments received from shareholders |
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| Details of proceeds from disposal of capital assets |
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| Managed funds distribution statements, annual tax statements and capital gains statements |
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| Dividend statements |
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Expenses / Deductions
| Details of advertising and marketing expenses |
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| Details of bad debts actually written off during the year (provide documentary evidence) |
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| Details of bonuses and commissions paid to employees |
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| Details of bonuses and commissions paid to external parties |
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| Details of bonuses paid to directors |
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| Details of borrowing costs for new loans entered into during the year |
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| Details of directors’ fees |
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| Details of donations of $2 and over to registered charities |
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| Details of entertainment expenses |
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| Details of expenses incurred during the year associated with establishing, expanding, merging or liquidating the entity, which were incurred during the year |
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| Details of fringe benefits tax paid (please provide FBT return lodged) |
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| Details of interest on loans |
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| Details of lease expenses for motor vehicles, premises and equipment |
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| Details of legal expenses |
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| Details of lump sum payments (including retirement and redundancy) |
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| Details of motor vehicle expenses |
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| Details of prepayments |
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| Details of professional subscriptions and journals |
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| Details of rates, land taxes and insurance premiums |
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| Details of repairs and maintenance |
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| Details of research and development activities and expenses |
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| Details of royalties paid |
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| Details of salaries paid, including fringe benefits (please provide PAYG summaries) |
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| Details of superannuation contributions for directors |
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| Details of superannuation contributions for employees |
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| Details of tax, and accounting and audit fees paid |
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| Details of travel expenses (include travel diaries) |
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Balance Sheet - Assets
| Asset register detailing depreciable assets bought and sold or scrapped during the year |
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| Bank statements |
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| Cheque book butts and deposit books |
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| Copies of confirmation for any units in managed funds purchased |
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| Copies of contract notes and settlement statements for any shares purchased |
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| Details of any other investments purchased |
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| Details of CGT assets purchased during the year |
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| Details of leases entered into and terminated during the year |
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| Details of loans, payments of forgiveness of debts to shareholders or their associates |
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| Details of work-in-progress |
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| Listing of trade debtors with amounts outstanding |
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| Value of stock as at 30 June 2009 (and basis of valuation) |
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Balance Sheet - Liabilities
| Accrued expenses (eg audit fees and bonuses) and unearned revenue |
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| Details of all loans |
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| Listing of trade creditors with amounts owing |
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| Provisions for long service leave and annual leave |
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| Statements from the lending authority detailing the opening and closing balances of existing loans during the financial year |
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Balance sheet - Equity
| Details of any changes to shareholdings |
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| Details of loans from shareholders or partners |
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| Details of any increases or decreases in reserves |
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Additional Information - for Company Tax Return only
| Auditor’s report |
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| Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year |
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| Copies of minutes of company meetings |
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| If you have any doubt about any income or expenses the company has received or incurred, bring the relevant documents with you |
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| Any other information that you think is relevant |
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Additional Information - for
Additional Information — for Trust Tax Return only
| Copies of Instalment Activity Statements and/or Business Activity Statements lodged for the income year |
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| Copies of minutes of trust meetings, in particular distribution resolutions |
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| Copy of trust deed, if not already supplied |
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| Details of any units redeemed or issued during the year (for a unit trust) |
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| Details of any unpaid present entitlements to beneficiaries |
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| If trust’s deed was amended during the year, please provide details |
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| If you have any doubt about any income or expenses the trust has received or incurred, bring the relevant documents with you |
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Additional Information — for Partnership Tax Return only
| Copies of Instalment Activity Statements and/or Business Activity |
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| Statements lodged for the income year |
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| Copies of minutes of partnership meetings |
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| Copy of partnership agreement |
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| If the partnership was (re)structured during the year, please provide details |
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| If you have any doubt about any income or expenses the partnership has received or incurred, bring the relevant documents with you |
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