Recently issued Taxation Determination TD 2018/10, sets out the amounts the Commissioner accepts as estimates of the value of goods taken from trading stock for private use by taxpayers in certain specified industries. These estimates apply to the tax year ended 30 June 2018. These amounts exclude GST.
|Business type||Adult/child over 16|
|Restaurant/ café (licensed)||4,640||1,750|
|Restaurant/ café (unlicensed)||3,500||1,750|
|Takeaway food shop||3,430||1,715|
|Mixed business (including milk bar, general store and convenience store)||4,260||2,130|
Disclaimer: The contents herein are intended for general information only and should not be construed as legal or accounting advice. Vicca Chartered Accountants Brisbane bears no responsibility for any loss that might occur from reliance on information contained in this publication. Please do not reproduce, transmit or distribute the contents herein in any form without prior permission from Vicca Chartered Accountants, Taxation Accountants Brisbane Australia.