• P19 Trading stock election

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    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    Have you made a trading stock election?

    No

    Go to Check that you have

    Yes

    Read on.

    You need to know

    If you have valued trading stock on hand at the end of the income year at an amount that is less than the lowest amount available using one of the valuation methods at Closing stock, you must notify the Commissioner.

    Completing this item

    If you must notify the Commissioner about your trading stock election, print Y at P item P19 on page 4 of your schedule. Otherwise leave P blank.

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    Check that you have …

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    Last modified: 25 Oct 2011QC 27987