Ross, Cowley & Co. Certified Practicing Accountants
Business Tax Return Checklist
Income
- Trading income
- Other income (royalties, rent, interest)
- Stock on hand - note any obsolete stock
- Subsidies if applicable (eg. primary producer, small business)
- Capital gains from assets sold
- Dividends
- Income from foreign sources
Deductions
- Losses
- Repairs and maintenance
- Salaries (include FBT)
- FBT paid
- Rates, land tax and insurance premiums paid
- Advertising expenses
- Interest on borrowed monies
- Retirement payments
- Bad debt written off in the year
- Charitable contributions and donations (see “Donations” in the Information Section for further details)
- Commissions
- Legal expenses
- Lease expenses (motor vehicles, premises, equipments)
- Losses from previous years
- Superannuation contributions
- Subscriptions
- Car expenses
- Accounting fees, tax agent fees
- Travel expenses
- R&D expenditure by registered R&D company
- Bank fees
- Borrowing costs
Liabilities
- New loans
- Existing loan closing and opening statements for the financial year
- Provisions for long service and annual leave
- Creditors on hand
- Accrued expenses
- Fully reconciled mortgage or loan facilities
- Fully reconciled GST accounts
Assets
- Depreciable assets acquired or disposed (type, date, consideration)
- Capital Gains Tax assets acquired
- Lease commitments
- Debtors
- Fully reconciled bank accounts