Goods taken from stock for private use: 2015/16
The ATO has provided an update of the amounts it will accept for 2015/16 as estimates of the value of goods taken from trading stock for private use by taxpayers in certain specified industries.
The amounts (which exclude GST) are:
|Type of Business||Adult/Child over 16 years||Child 4–16 years|
|Takeaway food shop||3,410||1,705|
|Mixed business (includes milk bar, general store, and convenience store)||4,230||2,115|
The ATO recognises that greater or lesser values may be appropriate in particular cases. It says it will adjust the values annually.