Tax Checklist 2020
Stock & Work in Progress
- Stock on 31-Mar-20
- Goods in Transit on 31-Mar-20
- Work-in-progress on 31-Mar-20
- Value of work done but not yet billed on 31-Mar-20
- List of stock taken for own use or given to employees
Owing & Owed
- Receivables at 31-Mar-20 (debtor list of what customers owe you)
- Payables at 31-Mar-20 (creditor list of bills you need to pay)
Invoices
- Invoices & settlement statements from lawyers & estate agents
- Invoices for assets costing more than $500+gst
- Invoices for repairs & computer costs of more than $500+gst
- Invoices for prepaid expenses
- Invoices for customer prepayments & refundable deposits
- Invoices for customs & import GST if you need us to check them
Statements
- Bank statement showing the bank balance on 31-Mar-20
- Business credit card statement showing the balance on 31-Mar-20
- Paypal statement showing the balance on 31-Mar-20
- Loan statements from 1-Apr-19 to 31-Mar-20
- Annual Loan Summary
- Statements for new loans, hire-purchases & leases
- Term deposit statements from 1-Apr-19 to 31-Mar-20
- Property manager statements from 1-Apr-19 to 31-Mar-20
Tax Certificates
- Income protection certificate & letter
- Interest Withholding Tax Certificates
- Dividend statements
- Dividend statement from your power company
- PIE tax statements (including KiwiSaver if your PIR was under 28%)
- Investment statements (including foreign investments, PIEs & PLEs)
- Overseas bank statements, superannuation schemes & pension funds
- Overseas income certificates
- Foreign superannuation scheme withdrawals or transfers
- FIF calculations & market values 31-Mar-20
- Income from boarders, trusts, royalties, honorariums & currency
- Tax receipts for donations made by your company
- Property sale information (IR833) if you received taxable income
IRD returns
- Fringe Benefit tax returns & calculation sheets
- GST return detailed calculations (if not using Xero)
Gifts
- Gift Deeds
- Deeds of Acknowledgement of debt
Other
- The amount of unbanked sales, petty cash, till float on 31-Mar-20
- Income or expenses not in your business bank account (cash jobs)
- Home Office expenses
- Home Office percentage of your homes total floor area
- The percentage you use your vehicle for business (logbook%)
- The number of days your company vehicle was unavailable
- Mileage claims – how many business kilometres in your personal car?
- Mileage claims – is your car petrol, electric or hybrid?
- The number of personal days taken on business trips?
- The cost of family travelling with you on business trips
- Number of days rental-property unavailable, used by you, family, friends
- Do we need to make any private adjustments?
- Foreign currency calculations
- Optional: 2020 Holiday pay & bonuses paid from 1-Apr-20 to 2-Jun-20
Anything else you need to tell us about?
- Assets no longer owned, paying off a phone on your monthly bill etc
- If you want to leave profit in the company, tell us the market rate for your job
- Anything else we need to know?
Not using Xero?
- Email us your TRIAL BALANCE (in both pdf & excel formats)
- Email us your DETAILED GENERAL LEDGER (pdf + excel)
- Email us your detailed GST return calculations
- Bank statements for the full year if you don’t run accounting software