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Part A: Opening stock

Last updated 17 February 2020

Did you have trading stock on hand at the start of the year?

No

Go to Part B.

Yes

Read on.

You need to know

The opening value of an item of stock must equal its closing value in the previous year. The total value of all stock on hand at the start of the year is equal to the amount shown as closing stock on your 2003 schedule.

Do not include any amounts representing opening stock of a business which commenced operations during the year. Include the purchase costs of these items in the relevant Purchases and other costs box.

Completing this part

Step 1

Write the total value of your primary production opening stock at Opening stock, Primary production column, item P8 on your schedule. Do not show cents.

Step 2

Write the total value of your non-primary production opening stock at Opening stock, Non-primary production column, item P8 on your schedule. Do not show cents.

Step 3

Add up your primary production and non-primary production opening stock and write the total value at K item P8 on your schedule.

QC27547