As the end of the financial year approaches, the last thing you want is to be scrambling for missing receipts or forgotten logbooks. Whether your tax return is relatively simple or a little more involved, getting organised early can save you time, stress, and even money.

At Kadota Finance, we know tax time isn’t everyone’s favourite season, but with the following checklist, it doesn’t have to be overwhelming. Of course, should you find the thought of preparing your return a daunting task you can always talk with our Melbourne based Taxation accountants to complete your return for you.

What You’ll Likely Need

To get started, it’s important to gather the essential documents that form the foundation of your tax return and help ensure the process runs smoothly from the outset.

  • A copy of last year’s tax return.
  • Private health insurance details.
  • Spouse details.
  • Children’s details, including date of birth.
  • Records of share, business, or property sales and purchases.
  • Your bank details for any ATO refunds.

Income Documents

Make sure you have records of every income source, even if it seems minor. Some employers and financial institutions report directly to the ATO, but it’s worth cross-checking.

  • Income statements from any jobs throughout the year.
  • Bank interest statements.
  • Pensions or government payments.
  • Rental property income.
  • Business income.
  • Superannuation lump sum payments.
  • Allowances (travel, car, entertainment, meals).
  • Employee share schemes.
  • Dividend statements.
  • Foreign income.
  • Any other income you’ve received.

Expenses You Can Claim

Claiming deductions is one of the best ways to reduce your taxable income, but it’s important to have the right documentation ready.

Work-Related Expenses

  • Motor vehicle costs (logbook or estimated kilometres).
  • Travel expenses (fares and accommodation).
  • Uniforms and workwear.
  • Self-education or professional development costs.
  • Union fees, memberships, and subscriptions.
  • Home office costs (including electricity, depreciation, or fixed-rate claims).
  • Telephone, internet, and computer costs.

Other Claimable Costs

  • Income protection insurance.
  • Details of any new assets purchased, with a work/personal use split.
  • Investment expenses (such as bank fees, financial advisor fees, or interest on investment loans).
  • Rental property expenses (e.g. agent fees, loan interest, repairs, strata fees, depreciation schedule).
  • Tax management costs.
  • Donations over $2 to registered charities.

Give Yourself a Head Start

Getting a head start on tax time gives you the chance to track down anything that might be missing, double-check your deductions, and avoid the rush that comes with deadlines. It also gives your accountant more time to spot opportunities you might not be aware of – whether that’s extra deductions, tax offsets, or simply a smarter way to structure your income.

If you expect a straightforward return, having all your paperwork ready can help avoid errors and speed up your refund. Even if your situation is more complex, for example, multiple income streams, investments, or a small business, a well-prepared checklist is the key to a stress-free lodgement.

Making Tax Time Less Stressful

With the help of our checklist, tax time doesn’t have to be frustrating – instead, you’ll find that lodging your return can actually feel pretty manageable. That’s because when you’ve got your documents in order and a good sense of what you can claim, the whole process becomes quicker, clearer, and less stressful.