Goods taken from stock for private use
The ATO has determined for the 2011–2012 year the amounts the Commissioner will accept as estimates of the value of goods taken from trading stock for private use by businesses in certain specified industries. The amounts (which exclude GST) are as follows:
|
Type of business |
Adult/child aged over 16 years ($) |
Child aged 4 to 16 years ($) |
| Bakery | 1,300 | 650 |
| Butcher | 770 | 385 |
| Restaurant/cafe (licensed) | 4,300 | 1.685 |
| Restaurant/cafe (unlicensed) | 3,370 | 1,685 |
| Caterer | 3,640 | 1,820 |
| Delicatessen | 3,370 | 1,685 |
| Fruiterer/greengrocer | 760 | 380 |
| Takeaway food shop | 3,240 | 1,620 |
| Mixed business (includes a milk bar, general storeand convenience store | 4,030 | 2,015 |
Source: Taxation Determination TD 2012/20, http://law.ato.gov.au/pdf/pbr/td2012-020.pdf
