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Investment Account Statements for your Tax Return are available now

25 September 2015

During the financial year you'll receive documents that are important for doing your tax, such as payment summaries, receipts, invoices and contracts. This includes statements from your investment or At Call accounts.

The general rule of thumb is that you need to keep these for 5 years from when you lodge your tax return. The records you need to keep include:

  • payment summaries from payers, including your employer and the Department of Human Services
  • statements from your bank and other financial institution showing the interest you've earned
  • dividend statements from companies
  • summaries from managed investment funds
  • receipts or invoices for equipment or asset purchases and sales
  • receipts or invoices for expense claims and repairs
  • contracts
  • tenant and rental records.

If you acquire a capital asset - such as an investment property, shares or managed fund investment - start keeping records immediately because you may have to pay capital gains tax if you sell the asset in the future. Keeping records from the start will ensure you don't pay more tax than necessary.

Your documentation must be in English, unless you incurred the expense outside Australia.

If you require additional statements or a tax statement in order to correctly complete your return, please contact us by email at admin@wdfinance.com.au

(information with thanks to ato.gov.au)