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Taxation Determination

TD 1999/41

Income tax: value of goods taken from stock for private use

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FOI status:

may be releasedFOI number: I 1020517

Preamble
This Taxation Determination is not a 'public ruling' for the purposes of Part IVAAA of the Taxation Administration Act 1953 and is not legally binding on the Commissioner. Taxation Rulings TR 92/1 and TR 97/16 together explain when a Determination is a public ruling and how it is binding on the Commissioner.
Date of Effect
This Determination applies for the 1998-99 income year.

1. This Taxation Determination, which updates the Schedule to Taxation Ruling IT 2659 for the year ended 30 June 1999, should be read with IT 2659.

2. Below is a Schedule for the value of goods taken from trading stock for private use in the 1998-99 income year:

Type of business Adult/child over 16 years Child 4-16 years
Baker 205 103
Baker and pastry cook 342 171
Butcher 480 240
Cafe/restaurant 1989 995
Caterer 1989 995
Chemist 284 143
Coffee lounge 754 376
Delicatessen 1509 754
Fish shop 481 241
Fruiterer/greengrocer 754 376
General store 1509 754
Grocer 1509 754
Health food store 1509 754
Milk bar 754 376
Milk vendor 205 103
Mixed business 1509 754
Pastry cook 274 137
Pizza parlour 1509 754
Takeaway 1509 754

Commissioner of Taxation
18 August 1999

Not previously released in draft form

References

ATO references:
NO NAT 98/1765-4

ISSN 1038 - 8982

Related Rulings/Determinations:

IT 2659
TD 98/17

Subject References:
private use
trading stock
value of goods taken from stock

Legislative References:
ITAA97 6-5
ITAA97 8-1
ITAA97 70-10

TD 1999/41 history
  Date: Version: Change:
You are here 18 August 1999 Original ruling  
  4 May 2016 Withdrawn  

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