Taxation Determination

TD 98/17

Income tax: value of goods taken from stock for private use

This version is no longer current. Please follow this link to view the current version.

• Please note that the PDF version is the authorised version of this ruling.
  This document has changed over time. View its history.

FOI status:

may be releasedFOI number: I 1017630

Preamble

This Taxation Determination is not a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and is not legally binding on the Commissioner. Taxation Rulings TR 92/1 and TR 97/16 together explain when a Determination is a public ruling and how it is binding on the Commissioner.

Date of Effect

This Determination applies for the 1997-98 income year.

1. This Taxation Determination, which updates the Schedule to Taxation Ruling IT 2659, should be read with IT 2659.

2. Below is a Schedule for the value of goods taken from trading stock for private use in the 1997-98 income year:

Commissioner of Taxation
15 July 1998

Not previously released in draft form

References

ATO references:
NO NAT 98/1765-4

Related Rulings/Determinations:

IT 2659

Subject References:
private use
trading stock
value of goods taken from stock

Legislative References:
ITAA36 25
ITAA36 51(1)
ITAA97 70-10