Goods taken from stock for private use: 2015/16
The ATO has provided an update of the amounts it will accept for 2015/16 as estimates of the value of goods taken from trading stock for private use by taxpayers in certain specified industries.
The amounts (which exclude GST) are below. The ATO recognises that greater or lesser values may be appropriate in particular cases. It says it will adjust the values annually.
Type of Business | Adult/Child over 16 years | Child 4 - 16 years |
Bakery | 1,350 | 675 |
Butcher | 800 | 400 |
Restaurant/cafe (Licensed) | 4,580 | 1,750 |
Restaurant/cafe (Unlicensed) | 3,500 | 1,750 |
Caterer | 3,790 | 1,895 |
Delicatessen | 3,500 | 1,750 |
Fruiterer/greengrocer | 790 | 395 |
Takeaway food shop | 3,410 | 1,705 |
Mixed business (includes milk bar, general store & convenience store) | 4,230 | 2,115 |