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What we need from you to start our work on your EOY accounts
Fullstack will prepare for EOY accounts and Tax Return for you. But first we will need some information from you. Here is a list of what we need.
- This is a general list of what we usually ask from clients:
- Access to accounts data file (Xero, QBO, MYOB)
- Stocktake if applicable (Small Business Entities can use the simplified trading stock rules)
- Invoice and Hire purchase/chattel mortgage document for any assets bought or sold during the year, including date the asset was first used or installed ready for use
- Details of any grants or disaster loans received
- Details of any insurance payouts for your business or business premises
- Details of any transactions involving cryptocurrency (e.g. Bitcoin)
- 30 June statements on any investment or operating accounts
- 30 June bank statements for all relevant loans.
- And, if we are preparing your individual income tax return:
- Income Statement
- Tax statements of managed investment funds
- Interest income from banks and building societies
- Dividend statements for dividends received
- For share sales or purchases, the purchase and sale contract notes
- For real estate sales or purchases, the solicitor’s correspondence for the purchase and sale
- Rental property statements from real estate agent and details of other expenditure incurred
- Work related expenses
- Home office expenses
- Self-education expenses
- Travel expenses
- Donations to charities
- Health insurance and rebate entitlement
- Family Tax Benefits received
- Commonwealth assistance notices
- IAS statements or details of PAYG Instalments paid
- Details of any transactions involving cryptocurrency (e.g., Bitcoin)
- Details of any income derived from participating in the sharing economy (e.g., Uber driving, rent from AirBNB, jobs completed through Airtasker etc.,).
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Stuart Reynolds is the founder of Fullstack Advisory, an award-winning accounting firm for businesses leading the future. He is a 3rd generation accountant who specialises in tech companies, agencies and entrepreneurs.