Personal Tax Returns

Records Checklists

New records checklists for 2024 returns have now been uploaded to Forms.  One constant challenge when preparing personal returns is getting all of the information you need up front.  Delays in completing returns breeds inefficiency, increases the time you spend on the job and ultimately affects cashflow.  There are two versions of these checklists.

A short one page version is a checklist that the client can use to either get ready for their meeting with you or to be reminded of the information you need if there will be no meeting.  Send this checklist to your clients before the job commences to ensure that there are no missing records.

The longer six page version is a fillable form that will allow the client to record all relevant information and send it to you without the need for a formal meeting.  Be selective about which clients receive this longer version.

Interview Notes

This form will serve as a checklist of the items to be considered when you prepare a personal return face to face.  One important use of this form is to ask the client to complete the “income” section of the form, with a Yes or No answer, while they wait in reception for your meeting. This will remind them of income they may have received and importantly be confirmation of their instructions to you about their income for the preparation of their return.

All forms are available for download from our site as either a Microsoft Word document, to allow you to edit the form to suit the particular needs of your practice, or as a PDF document.


Property Investment Analysis   New Layout,  New Video

Analyse a proposed rental property acquisition by your client and advise on –

  • Pre and post tax cashflow
  • Weekly cost to the client for affordability
  • Gross and net rental yield
  • Equity at any point in the analysis period
  • Investment return over the ownership period (whether still held or sold)

Or in the case of a negatively-geared property, use hypothetical information to profile an ideal property to match the client’s excess cashflow.  Tax rates have been updated for the 2025 financial year.

Calculations/Budgets & Projections/Property Investment Analysis

PAYG Withholding Variations

This handy calculator will help you estimate rental income and deductions, interest on investment loans, motor vehicle expenses and depreciation on related assets for 2025 for a PAYG withholding variation.  This year, all calculations are now in this one file.

Calculations/2025/PAYG Withholding Variations

Division 7A Loans

You can now start using this calculator part way through the term of the loan by entering a start year and balance at the beginning of that year.  This update will help users move existing loans across from a different calculator.

Calculations/Division 7A Loans

Trust Distributions

Save precious time and use our trust distribution workbook for your discretionary trust distributions for the year ended 30 June 2024.

Using projected net (taxable) income for the year, you can view the marginal tax rates and income available at those rates for each beneficiary to make tax-effective distributions. The worksheet will convert those taxable distributions to accounting distributions for the trustee resolution.  The resolution forms part of this workbook.

And when the time comes to prepare the trust tax return, you can enter actual accounting distributions to calculate the individual (taxable) amounts to be shown at each return label for the beneficiaries on the trust return.

Click here to watch our video.

Calculations/2024/Trust Distributions

Practice reminders

21 Jun 2024

Activity Statements

Lodge and pay May 2024 monthly business activity statement.

25 Jun 2024

FBT Return

Lodge and pay 2024 Fringe benefits tax annual return for tax agents if lodging electronically.

30 Jun 2024

Super Guarantee Contributions

Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2023–24 financial year.

Child Care Subsidy and Family Tax Benefit Payments

If any of your clients receive Child Care Subsidy and Family Tax Benefit payments from Services Australia, the client and their partners must lodge their 2022–23 tax return by 30 June 2024, regardless of any deferrals in place. For more information see the Services Australia

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