In order to get the most out of TaxTank, we recommend getting as much of the detail as correct as possible right up front. To help with this, here are some of the documents to have handy when you start onboarding.
Most recent tax return
PAYG and other income details
All individual property details
Purchase Price - The property buy price, excluding any stamps, legals etc
Contract Date - Important for CGT calculations in the future
Current Value - The current market value (estimation is fine)
Settlement Date - When the property became yours ;)
Ownership - Your percentage of ownership as per the title (ie. 50/50, 99/1 etc)
Income & Expense Forecasts -
Income - Weekly rent x 52
Expenses - All expenses excluding interest & depreciation
Loan Interest - Loan amount x annual interest rate
Depreciation - Capital works + plant & equipment