The Commissioner believes in drinking in moderation?

In Taxation Determination TD 2015/9 the Commissioner provides amounts that he will accept as estimates of the value of goods taken from trading stock for private use by taxpayers in named industries.

This helps certain businesses estimate what trading stock has been “sold” outside the normal course of business (like eaten by the owners).

So if you are advising a licensed restaurant or cafe let them know the Commissioner expects them to drink $1,030 of alcohol each year… why? here are the two estimates from the determination

Restaurant/cafe (licensed) $4,490
Restaurant/cafe (unlicensed) $3,460

I can have imported beer now!


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: