Personal Income Tax Return Checklist 2018 Income Tax Year - Bizadvice.co.nz
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Personal Income Tax Return Checklist
2018 Income Tax Year
Our checklist to help you collate your tax return informationWelcome If, after reading this guide, you have any questions, or
need help with it, please call us on 09 449 0417.
Welcome to a new income tax year, which means it’s
time to file last year’s income tax returns. Our primary Acknowledgement
goal remains to provide you with professional, efficient Please take the time to complete this checklist as it’s a
tax preparation & consulting. We continue to seek ways very important part of the accounting process.
to improve & streamline our processes to achieve this
and to minimise turn-around time. When you’ve gathered your tax information, please call
for an appointment or if you feel an appointment is
I know that, for many, there’s so much to remember and unnecessary, simply mail/email your information to us.
collate when collating information ready to send to us.
That’s why we’ve designed this guide to help. I hope you Please sign the acknowledgement page on page 4. We
find it useful. aim to process tax returns in the order that they’re
received and within four to six weeks. If you have a
specific deadline or other time constraint, please let us
How to use this checklist
know.
We’ve written this checklist to help you to collate the
information we need to prepare your 2018 personal As always, thank you for your business and referrals,
income tax return(s). The information required relates and I look forward to hearing from you soon. All the
to the tax year from 1 April 2017 to 31 March 2018. If best for the year.
your income year is different, please contact us.
The checklist contains a series of boxes for you to check Mark Gwilliam FCCA CA
off so you know you’ve given us the information and Director
documentation we require. Though it may seem
inconvenient, he checklists helps us to prepare your
income tax return to the highest standards.
Professional Standards and Quality Assurance
As members of the Association of Chartered Certified
Accountants and New Zealand Institute of Chartered
Accountants, we are required to meet certain
professional and quality control standards. This
checklist is an essential part of that process.
Help to Minimise our Fees
The details you provide can help to save time - delays
and additional fees are inevitable if we need to obtain
missing information, trace transactions, or decipher
illegible handwriting.
FY18 Personal Income Tax Checklist Page | 1superannuation fund or overseas pension, please
Personal Information Checklist provide details including details of any tax paid on your
behalf.
Interest and Dividends
If you received interest or dividends during the year,
Other Income
please provide:
• Copies of all resident withholding tax certificates If you received other income e.g. grants, royalties, cash
received. tips, special one-off payments received from a tenant in
• Copies of all dividend advices which accompany respect of a lease, please provide details.
dividend payments.
Share Trading
Portfolio Investment Entities (PIEs) If you bought or sold shares regularly during the year,
If you have investments in PIEs, please provide please provide details.
certificates of income earned during the year.
Investments and Term Deposits
Tax Credits If you made or disposed of any investments/term
If you were employed or self-employed, please advise deposits during the year, please provide details.
how many weeks you were employed for at least 20
hours per week during the year. Land Transactions
……….. weeks.
If you bought or sold land during the year or bought
residential property (or a part-interest) after 30
Profit or Loss from Look Through Company September 2015, which you sold within 24 months,
If you received income from a Look Through Company, please provide details.
please advise the name of the company, your
shareholding percentage and your share of net Provisional Tax
profit/loss (we will contact you regarding calculation of
Please provide details of any matters that may cause
your Owner’s Basis under LTC loss limitation rules).
your 2019 income tax to be significantly different from
your 2018 income.
Business Income or Rental Income
If you received business income from self-employment, Donations, Crèche, Housekeeper Credits
partnership or shareholder salary, or income from
If you made any donations or paid for school fees, creche
rental property, please complete our business checklist
or a house-keeper, please provide:
or rental checklist.
• Receipts of donations made to schools, churches &
charitable organisations. You can’t claim stationery
Trust, Estate or other Overseas Income fees or school trips.
If you received any other income, for example from, • Details of amounts paid to a creche or house-keeper.
estates or trusts (NZ or overseas), salary, overseas
annuity, cash-up or transfer from an overseas
FY2018 Personal Income Tax Year Guide Page | 2Income Protection/Disability Insurance • Copies of investment statements & income statements
• Details of sales and purchases (date, sale price, cost, no.
If you have income protection or disability insurance,
of units)
please attach a copy of the invoice and policy or provide
• A valuation report of your investments at this year-end
details of the premium paid.
showing each investment’s cost and market value at
31 March 2018
Student Loan
• A valuation report of your investments at previous year
If you have a student loan please provide the student end i.e. at 31 March 2017 showing each investment’s
loan statements received from the IRD. cost and market value.
• A list of any Australian share on that valuation report
Working for Families Tax Credits (WFFTC) that doesn’t qualify for the FIF exemption.
• Details of any lump sum pension withdrawals or
If you received a Family Tax Credit or Child Support
payments.
during the year or have children under 18 years or who
turned 18 during the year and are not financially • Details of any transfers into any Australian Retirement
independent and are at school or a tertiary institution, Savings Fund.
please contact us for further details. • Copies of financial statements for foreign companies
you control.
Child Support
If you paid Child Support during the year, please advise Other Information
the total amount you paid. $..............
If you have any other comments or notes relevant to
your taxable income please use this section to let us
Employee Share Purchase Arrangements know.
If you participate in an Employee Share Purchase ……………………………………………
Scheme or Arrangement, operated by your present or
……………………………………………
past employer, please provide:
• Full details of the plan and any shares issued to you, ……………………………………………
and any share options you have received and proceeds ……………………………………………
from the sale of options.
……………………………………………
• Market value of shares when they were issued to you.
• Details of any amounts paid by you for the shares. ……………………………………………
……………………………………………
Overseas Investments in Foreign
……………………………………………
Investment Fund (FIF) regime and
Controlled Foreign Company (CFC) Regime ……………………………………………
If you had any overseas investments during the year
……………………………………………
(including foreign life insurance & overseas pension
funds even if they are not yet paying out) please provide ……………………………………………
the following details: ……………………………………………
FY2018 Personal Income Tax Year Guide Page | 3case, BAS has my express permission to file them with
Acknowledgement the Inland Revenue, without delay, and BAS may
I authorise Business Advisory Accounting & Tax assume that the return(s) is/are true and correct and
Services Limited (hereafter referred to as “BAS”) to act represents my assessment for the related year as
on my behalf in respect of the Inland Revenue and ACC required under the Tax Administration Act 1994.
for the purposes of obtaining any information necessary
with regard to my income tax account (and other tax I have been advised of the basis that BAS charges its fees
accounts) as they deem relevant. I may revoke this and that I have read BAS’ terms and conditions. By
authority at any time. signing this document, I agree to be bound by them.
Should BAS not receive such a signed copy but I
I authorise any person or company to provide BAS with continue to instruct BAS, then I acknowledge that I have
such information as BAS may require to complete my accepted the terms and conditions and BAS’ terms of
tax return(s), and any other work BAS carries out on my business.
behalf. I further authorise BAS to furnish to any third
party, financial information of mine as BAS deems Signature ………………………………………
appropriate that is requested in furtherance of my
income earning activities. Name ………………………………………
I accept responsibility for the accuracy and Date ………………………………………
completeness of the information supplied. BAS is not
required to complete an audit, nor do I wish BAS to
undertake a detailed review of my affairs in order for
Other Services Available:
BAS to substantiate the accuracy of the information I
have supplied BAS, and therefore BAS is not asked to If you’d like to discuss some of our other services, please
provide any assurance on my/our financial statements. tick the relevant box(es) below:
I acknowledge that BAS’ work cannot be relied upon to Spread Your Accounting Fees / Monthly Payments
detect error and fraud and that the income tax return(s)
will be prepared at my request and for my purposes only Fixed Price Monthly Accounting and GST Services
and that BAS will not be liable for any losses, claims or Virtual Chief Financial Officer
demands by any 3rd party. I accept responsibility for all
Virtual Financial Controller
other records and information supplied to BAS other
than those listed above. I accept responsibility if I fail to Advisory Board / Independent Director
supply all relevant records and information to BAS, BAS
Budgets and Cash Flow Forecasting
may consider all balances to be NIL or NO where I do
not supply this information. Strategic and Operational Business Plans
Family Trust
If I do not return any associated income tax declarations
within 10 business days (excluding the period 21 Other (please summarise your requirement)
December 2018 to 14 January 2019) of BAS sending ……………………………………………
them to me, BAS may assume that I have signed them
unless I provide alternative written instructions. In this
FY2018 Personal Income Tax Year Guide Page | 4Need to contact us? Please provide your details
Telephone: 09 449 0417 IRD number …………………………………
Facsimile: 09 449 0427
Contact details – to ensure our records are up to date,
General email: admin@bizadvice.co.nz please complete the following:
Mail: PO Box 33-1082 Contact number ………………..………..
Takapuna
Auckland 0740 Email address ………………..……….
Website ………………..……….
Physical address: 2b Aberdeen Road
Postal address ………………..………..
Campbells Bay
……………………………...
Auckland 0622 ………………………………
Please visit our website at www.bizadvice.co.nz for
further information. You can also check out our articles Disclaimer
and newsletters and other resources.
The information contained in this guide is of a general
nature and does not constitute legal, tax, investment or
How to obtain copies of the guide other professional advice on any subject matter and/or
Additional copies can be obtained from address the circumstances of any particular individual
www.bizadvice.co.nz or by calling us on 09 449 0417 or or entity. Although we endeavour to provide accurate
via email us at admin@bizadvice.co.nz and timely information, there can be no guarantee that
such information is accurate as of the date it is received
or that it will continue to be accurate in the future.
If you’re unhappy with our service
We’re committed to providing you with a quality service.
Before making any financial decision, you should
If there’s a problem, we’d like to know about it and have
consider all factors and consult an appropriate
the chance to fix it. You can call the staff member you’ve
professional advisor. No one should act upon such
been dealing with or, if you’re not satisfied, speak with
information without appropriate professional advice
our Director, Mark Gwilliam, on 09 449 0417/027 440
after a thorough examination of the particular situation.
0417 or email him at markg@bizadvice.co.nz
No liability is accepted by Business Advisory Accounting
& Tax Services Limited or its staff, directors and
contractors for actions taken in reliance upon the
information given and it is recommended that
appropriate professional advice should be taken before
making any decision or taking any action that might
affect your finances.You can also read
