Trading stock provisions

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

End of attention

Valuation is cost only

In working out attributable income you must value trading stock at cost. The normal rules for determining the cost of trading stock are to apply.

What happens to obsolete stock?

In working out taxable income, a special valuation is allowed for obsolete stock. This valuation is not allowed when working out attributable income.