Tax time doesn’t have to be stressful! With a little bit of planning and preparation, you can make sure you’re claiming everything you’re entitled to and avoiding any last-minute headaches. Whether you’re an individual taxpayer, sole trader, or small business owner, getting organised early will make your tax return faster, easier, and potentially more rewarding.
At Accounting Mate, we’ve put together a helpful checklist to guide you through what you need to gather this tax season.
What Information Should You Keep Handy ?
Here’s a list of the most common documents and details you should collect before meeting your accountant or lodging your return:
- PAYG Payment Summaries (now called Income Statements via myGov)
- Government payments (JobSeeker, Centrelink, etc.)
- Interest earned on savings accounts
- Dividends and investment income
- Cryptocurrency income or trades
- Business income (if self-employed or sole trader)
- Rental property income and statements
- Work-related expenses (tools, uniforms, subscriptions, etc.)
- Vehicle and travel expenses (logbook, tolls, fuel)
- Home office expenses (internet, electricity, phone bills)
- Professional development and training courses
- Donations to registered charities
- Tax agent fees from last year
- Rental property expenses (repairs, insurance, interest)
It’s important to keep copies of:
- All work-related purchase receipts
- Invoices for services or supplies if you’re self-employed
- Equipment purchases (including laptops, phones, software)
- Bank and credit card statements (for cross-checking)
Tip: Store them digitally using apps or folders so you don’t misplace anything throughout the year!
- Rental income summary
- Council and water rates
- Loan interest statements
- Repairs and maintenance receipts
- Depreciation schedule (if applicable)
- Private health insurance statements
- Superannuation contributions (especially if you made personal deductible contributions)
- Capital gains or losses (e.g., property sales, shares, crypto)
- Any carried forward losses from previous years
When Should You Start Preparing?
Now! June 30 marks the end of the financial year. Starting early in July helps avoid delays and gives your accountant time to identify extra deductions or strategies to save you money. Don’t wait until the last minute—especially if you’re expecting a refund!
Pro Tips from Accounting Mate
- Log everything throughout the year using cloud accounting tools like Xero or MYOB or notepad
- Keep digital copies of all receipts and invoices (the ATO accepts scanned or photo versions)
- Ask questions! If you're unsure whether something is deductible, bring it up during your consultation
Need Help This Tax Season?
We’re here to help individuals and small businesses make the most of tax time. Whether it’s sorting your deductions, lodging your return, or planning for the new financial year ahead—we’ve got your back.
- Book a consultation today at accountingmate.com.au
- Or email us at hello@accountingmate.com.au to get started.
Let’s make tax time stress-free—together!
