Taxation Determination
TD 98/17
Income tax: value of goods taken from stock for private use
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FOI status:
may be releasedFOI number: I 1017630Preamble
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:
Type of business | Adult/child over 16 years | Child 4-16 years |
---|---|---|
Baker | 203 | 102 |
Baker and pastry cook | 338 | 169 |
Butcher | 474 | 237 |
Cafe/restaurant | 1965 | 983 |
Caterer | 1965 | 983 |
Chemist | 281 | 141 |
Coffee lounge | 745 | 372 |
Delicatessen | 1491 | 745 |
Fish shop | 475 | 238 |
Fruiterer/greengrocer | 745 | 372 |
General store | 1491 | 745 |
Grocer | 1491 | 745 |
Health food store | 1491 | 745 |
Milk bar | 745 | 372 |
Milk vendor | 203 | 102 |
Mixed business | 1491 | 745 |
Pastry cook | 271 | 135 |
Pizza parlour | 1491 | 745 |
Takeaway | 1491 | 745 |
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
Date: | Version: | Change: | |
You are here | 15 July 1998 | Original ruling | |
4 May 2016 | Withdrawn |
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