EOFY 2025–26 has now passed. If you are preparing your Australian tax return for the 2025–26 financial year, this updated checklist will help you organise your records, review legitimate deductions and avoid common mistakes.
For Perth individuals, sole traders, investors and small business owners, the best approach is to prepare your evidence first and claim only expenses that genuinely relate to earning your assessable income.
2026–27 Tax Return Checklist
1. Gather your income records
Check your income statement and gather records for salary and wages, interest, dividends, government payments, rental income, foreign income and any business or contracting income that applies to you.
2. Review work-related expenses
Only claim expenses that meet the ATO requirements. Depending on your circumstances, this may include eligible work-related travel, tools and equipment, professional memberships, union fees, work-related education, phone and internet use, or working-from-home expenses.
3. Check your working-from-home records
If you worked from home, make sure your records support the method you use and that you satisfy the ATO’s record-keeping requirements. Keep evidence of your hours and relevant expenses rather than relying on an estimate.
4. Review car and travel claims
Travel between home and your regular workplace is generally private. Work-related travel can be deductible in particular circumstances, so keep a logbook or other evidence where required and separate private travel from genuine work travel.
5. Check investments and capital gains
If you sold shares, cryptocurrency, property or other assets, collect purchase and sale records and relevant transaction costs. Capital gains and losses need to be calculated correctly rather than simply reported from a bank statement.
6. Review rental property records
Gather rental statements, interest records, rates, insurance, repairs and other relevant expenses. Keep capital improvements separate from immediately deductible repairs and obtain depreciation information where appropriate.
7. Check superannuation and insurance deductions
If you made personal deductible super contributions or personally paid eligible income protection insurance premiums, keep the required documentation and check that the claim is available in your circumstances.
8. Keep donation and other substantiation records
Keep receipts for eligible donations and other expenses you intend to claim. A bank transaction alone does not automatically establish that an expense is deductible.
9. Sole traders and businesses: reconcile your records
Reconcile bank accounts, review outstanding invoices, check asset registers and make sure business and private expenses have been separated. Keep BAS, GST and accounting records together with your supporting evidence.
10. Get your return reviewed by a registered tax agent
A registered tax agent can help identify legitimate deductions, check complex areas such as capital gains and rental property claims, and ensure the return is lodged correctly. Tax agent lodgment arrangements can also provide additional time compared with self-lodgment, subject to the ATO’s rules and your circumstances.
Need help with your Perth tax return?
Perth Tax Accounting Co (PTACO) helps individuals, sole traders, investors and businesses with tax returns and accounting services from our Victoria Park office.
Book a free 30-minute consultation: ptaco.com.au/free-consultation/
Call: +61 8 6162 9808
Address: 19/328 Albany Hwy, Victoria Park WA 6100
Tax information can change and individual circumstances differ. This article is general information only and should not be relied on as personal tax advice.