Trust
Checklist
- Trust Deeds
- Signed Engagement Letter to act on their behalf as their new accountant
- Ethical letter from the previous accountant
- Prior years' Tax return if new client
- Profit and Loss
- Balance sheet
- Tax reconciliation
- BAS reconciliation if registered for GST
- Motor vehicle-Log book to be sighted
- New vehicle- Purchase documents and Logbook uploaded to the server for 12 weeks
- Assets- please provide evidence of purchases for all items above $3,000.00.
- Depreciation schedule required
- Business name and industry code
- Cash or Accruals
- Staff-Payroll details for the financial year in question
- Repairs and maintenance details
- Deductions supported by documents
- Superannuation details for employees
- Distribution must be according to the Trust Deed and only paid to those who benefit from it- Section 110A Trust Law