When it comes to making a legal claim in Australia—whether for lost income, medical costs, or other expenses—your financial records can make or break your case.
Too often, people don’t keep proper records. They forget to save receipts, file bank statements, or keep copies of important documents. But when you’re injured, unwell, or caring for a sick family member, those details matter.
Lost Income Claims:
If you’re claiming lost wages or reduced work capacity, the starting point is always what you have earned and what you could have earned. Courts and insurers rely heavily on evidence of past income to work out future loss. That includes tax returns, payslips, and accountant reports. Without them, it’s much harder to prove your claim.
Medical and Related Expenses:
Receipts for doctors, specialists, physiotherapists, medication, or even travel to and from appointments are all potentially claimable. But if you don’t keep them, you can’t be reimbursed.
Tax Returns:
Your lodged tax returns are usually the most important financial documents in a claim. They form the foundation for calculating your past and future income. Even where an accountant is brought in to prepare a loss assessment, the ATO returns are almost always the starting point.
Bank Statements:
These provide a direct record of your income and spending. The catch? Most banks will only provide the last seven years of statements, while claims can run longer. Keeping your own hard copies or digital backups is essential.
The Takeaway:
Keep your financial records organised and backed up. Store them digitally and in hard copy where possible. In the stress of pursuing a claim, the last thing you want is to lose out because you can’t prove your financial losses.
Your records are your evidence—and in most legal claims, evidence is everything.