Goods for Own Use

<p>Every year the ATO will issue a schedule of values associated with how a business is to calculate goods taken for own use,

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<p ><b>Schedule for the value of goods taken from trading stock</b>

<a id="P2" name="P2"> </a><a id="#P2" name="#P2"> </a><a id="P2" name="P2"> </a><a id="atP2" name="atP2"> </a><a id="#atP2" name="#atP2"> </a><a id="atP2" name="atP2"> </a>2. The Schedule for the value of goods taken from trading stock for private use in the <b>2015-16</b> income year is:

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<td colspan="1" align="left" valign="top" width="40%" ><b>TYPE OF BUSINESS</b></td>

<td colspan="1" align="center" valign="top" width="30%" ><b>AMOUNT (EXCLUDING GST) FOR ADULT/CHILD OVER 16 YEARS $</b></td>

<td colspan="1" align="center" valign="top" width="30%" ><b>AMOUNT (EXCLUDING GST) FOR CHILD 4-16 YEARS $</b></td>

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<td colspan="1" align="left" valign="top" width="40%" >Bakery</td>

<td colspan="1" align="center" valign="top" width="30%" >1,350</td>

<td colspan="1" align="center" valign="top" width="30%" >675</td>

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<td colspan="1" align="left" valign="top" width="40%" >Butcher</td>

<td colspan="1" align="center" valign="top" width="30%" >800</td>

<td colspan="1" align="center" valign="top" width="30%" >400</td>

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<td colspan="1" align="left" valign="top" width="40%" >Restaurant/cafe (licensed)</td>

<td colspan="1" align="center" valign="top" width="30%" >4,580</td>

<td colspan="1" align="center" valign="top" width="30%" >1,750</td>

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<td colspan="1" align="left" valign="top" width="40%" >Restaurant/cafe (unlicensed)</td>

<td colspan="1" align="center" valign="top" width="30%" >3,500</td>

<td colspan="1" align="center" valign="top" width="30%" >1,750</td>

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<td colspan="1" align="left" valign="top" width="40%" >Caterer</td>

<td colspan="1" align="center" valign="top" width="30%" >3,790</td>

<td colspan="1" align="center" valign="top" width="30%" >1,895</td>

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<td colspan="1" align="left" valign="top" width="40%" >Delicatessen</td>

<td colspan="1" align="center" valign="top" width="30%" >3,500</td>

<td colspan="1" align="center" valign="top" width="30%" >1,750</td>

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<td colspan="1" align="left" valign="top" width="40%" >Fruiterer/greengrocer</td>

<td colspan="1" align="center" valign="top" width="30%" >790</td>

<td colspan="1" align="center" valign="top" width="30%" >395</td>

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<td colspan="1" align="left" valign="top" width="40%" >Takeaway food shop</td>

<td colspan="1" align="center" valign="top" width="30%" >3,410</td>

<td colspan="1" align="center" valign="top" width="30%" >1,705</td>

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<td colspan="1" align="left" valign="top" width="40%" >Mixed business (includes milk bar, general store and convenience store)</td>

<td colspan="1" align="center" valign="top" width="30%" >4,230</td>

<td colspan="1" align="center" valign="top" width="30%" >2,115</td>

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<b>Date of effect</b>

<a id="P3" name="P3"> </a><a id="#P3" name="#P3"> </a><a id="P3" name="P3"> </a><a id="atP3" name="atP3"> </a><a id="#atP3" name="#atP3"> </a><a id="atP3" name="atP3"> </a>3. This Determination applies to the 2015-16 income year. However, this Determination will not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of this Determination (see paragraphs 75 and 76 of Taxation Ruling TR 2006/10).</p>

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