Taxation Determination

TD 93/51W

Income tax: is it always necessary for a retailer to make a police complaint before taking into account stock shortages for working out the value of trading stock on hand under subsection 28(1)?

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FOI status:

Notice of Withdrawal

Taxation Determination TD 93/51 is withdrawn with effect from today.

1. The Determination addresses an evidential matter in relation to retailer stock shortages. The Determination is being withdrawn because it is not interpretative and the provision to which it refers has been repealed by the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006.

Commissioner of Taxation
6 April 2011

References

ATO references:
NO 1-22D9LEG

Subject References:
closing stock;
jeweller;
jewellery;
losses;
police complaint;
retail trade;
retailer;
stock shortage;
substantiation;
theft;
trading stock on hand

Legislative References:
ITAA 28(1)