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Business: Checklist

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INCOME FROM SALES AND/OR THE PROVISION OF SERVICES


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

BANKS, BUILDING SOCIETIES, INVESTMENTS AND TERM DEPOSITS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

RENTAL PROPERTIES


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

SHARE TRADING STATEMENTS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

DISPOSAL OF PLANT AND PROPERTY


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

CAPITAL GAINS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

ASSESSABLE GOVERNMENT INDUSTRY PAYMENTS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

OTHER INCOME


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

ANNUAL TURNOVER


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

LOANS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

EMPLOYEES


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

RENTAL PROPERTY


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

MOTOR VEHICLES – (IF USED FOR BUSINESS PURPOSES)


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

TRAVELLING EXPENSES


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

PERSONAL ACCIDENT POLICY


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

ASSET REGISTER


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

LEASED PLANT AND MOTOR VEHICLES


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

REPAIRS AND MAINTENANCE


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

SUPERANNUATION CONTRIBUTIONS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

PETTY CASH EXPENDITURE


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

OTHER EXPENSES


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

OTHER ITEMS


Value of opening stock on hand at 1 July of previous financial year
Value of purchases made throughout the year (invoices to support this)
Value of closing stock on hand at 30 June of previous financial year
Value of work in progress at 30 June of previous financial year
Creditor and debtor details
Information relating to payments to related parties – e.g. loans to family members
Personal income tax
Details of spouse’s income (if applicable)
Details if business is operating through a family trust
BAS and/or IAS statements

Business Info: