Preparing for your annual tax return is much smoother when you know exactly what to gather. This checklist covers every income source, deduction category, and document type relevant to Australian individuals and small business owners for the 2025-26 financial year.
Your Personal Details
- Tax File Number (TFN)
- Bank account details for your refund (BSB and account number)
- Current address
- Spouse income details (if applicable – affects some offsets and levies)
Income Sources to Declare
- Salary and wages – Your PAYG Payment Summary (group certificate) or pre-filled data from ATO myTax
- Interest income – Bank statements showing interest earned
- Dividend income – Annual tax statements from companies or fund managers (includes franking credits)
- Rental income – Total rent received during the financial year
- Capital gains – From selling shares, investment property, crypto, or other assets
- Business income – If you operate as a sole trader or have a side income
- Government payments – Jobseeker, Centrelink payments (some are taxable)
- Foreign income – Income earned overseas must be declared
- Sharing economy income – Uber, Airbnb, Airtasker and similar platforms
Work-Related Deductions
- Home office expenses (fixed rate method: 67 cents per hour worked from home)
- Work-related phone and internet use (portion used for work)
- Work clothing (uniforms, protective gear – not general business attire)
- Self-education expenses if directly related to your current role
- Tools and equipment used for work
- Union and professional membership fees
- Work-related car expenses (logbook method or cents-per-kilometre)
- Work-related travel (flights, accommodation – not daily commute)
Investment Property Deductions
- Property management fees
- Interest on your investment loan
- Council rates and water charges
- Landlord insurance premiums
- Repairs and maintenance (not capital improvements)
- Depreciation schedule (from a quantity surveyor)
- Strata levies and body corporate fees
- Advertising costs for finding tenants
Other Common Deductions
- Charitable donations to DGR-approved organisations (keep receipts)
- Income protection insurance premiums (if paid personally, not through super)
- Tax agent fees from last year’s return
- Investment interest (borrowing to invest in shares or managed funds)
Key Offsets and Rebates to Check
- Low Income Tax Offset (LITO) – Automatic for incomes under $66,667
- Low and Middle Income Tax Offset (LMITO) – Check if applicable for your year
- Senior Australians Tax Offset – If you are eligible for the Australian Government pension
- Private health insurance rebate – Declare your private hospital cover details
- Spouse contributions to super – May attract a tax offset
What Documents to Bring to Your Accountant
- All PAYG Payment Summaries or last year’s Notice of Assessment
- Bank statements for interest income
- Share or managed fund annual tax statements
- Rental income records and all expense receipts
- Receipts for any deductions you are claiming
- Records of any asset sales (shares, property, crypto)
- Private health insurance statement
- Medicare levy exemption certificate (if applicable)
Find a Tax Accountant Near You
Not sure what you can claim or want a registered tax agent to handle your return? FIZO lists thousands of accountants, tax agents, and bookkeepers across Australia. Find a tax accountant near you on FIZO and book your appointment before the lodgement deadline.