The ATO knows that many business owners naturally help themselves to their trading stock and use it for their own purposes.
This common practice can occur in businesses such as butchers, bakers, corner stores, cafes and more.
It regularly issues guidance for business owners on the value it expects will be allocated to goods taken from trading stock for private use. The table below shows these values for the 2019-20 income year.
Type of business Amount (excluding GST) for adult/child over 16 years
Amount (excluding GST) for child 4-16 years
Bakery 1,350 675 Butcher 850 425 Restaurant/cafe (licensed) 4,640 1,750 Restaurant/cafe (unlicensed) 3,500 1,750 Caterer 3,790 1,895 Delicatessen 3,500 1,750 Fruiterer/greengrocer 880 440 Takeaway food shop 3,440 1,720 Mixed business (includes milk bar, general store and convenience store) 4,260 2,130
The basis for determining values is the latest Household Expenditure Survey results issued by the Australian Bureau of Statistics, adjusted for CPI movements for each category.
Note that the ATO recognises that greater or lesser values may be appropriate in particular cases, and where you are able to provide evidence of a lower value, this should be used.
If you have any questions, feel free to ask them in the comment section. We will be happy to answer all your queries.
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