Rising Tide Blog

A simple checklist to help you prepare for tax time

Posted by Matt Hale

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With tax time a few weeks away, it’s important to start preparing to ensure you get the best results from your tax return.

Whether you plan on submitting your return yourself or working with an accredited accountant, you’ll need to provide evidence of all income, expenditure and offsets to avoid any unwanted trouble with the tax office.

To help get you started, we’ve put together a simple checklist to help you collect all the necessary evidence you’ll need to ensure your claim goes through without a hitch.

Print off a copy and set aside a spare afternoon to start sorting through your receipts – then get ready to reap the rewards of a stress-free tax time!

Rising Tide’s Tax Checklist

Personal Income

  • Payment summaries
  • Lump sum and termination payment summaries
  • Government payment statements
  • Interest income from banks and building societies
  • Dividend statements for dividends received or reinvested
  • Annual tax statements from managed funds

Other income

  • Rental property income
  • Business earnings
  • Foreign income statements
  • Capital gains summaries
  • Employee share schemes


  • Motor vehicle and travel
  • Uniforms and protective work-wear
  • Laundry and dry cleaning
  • Courses and professional development
  • Union fees, registrations, subscriptions, memberships
  • Home office expenses (including rent, utilities, telephone and internet)
  • Tools, equipment and computers
  • Printing, stationery, books and magazines
  • Seminars and conferences
  • Gifts and donations to registered charities
  • Income protection insurance
  • Other costs incurred earning income

Offsets and refunds

  • Health insurance and rebate entitlement statement
  • IAS statements or details of PAYG instalments paid
  • Spouse details (including taxable and exempt income)

To find out more about what you may be entitled to claim, visit the Australia Taxation Office website. For more information on how the expert team of accountants at Rising Tide Financial Services can support you with tax returns, contact us today on 03 370 330 287.

Matt Hale
Senior Financial Planner, Director
With more than 12 years of experience within the financial planning sector, Matt brings a wealth of knowledge and experience across a wide range of services...