Tax Determination: cost base exclusions for deductible amounts and value of goods taken from stock for private use

Tax Determination: cost base exclusions for deductible amounts

TD 2022/14 confirms the ATO’s view that the law does not permit ‘double counting’ of certain amounts by way of inclusion in the cost base of an asset and claiming a tax deduction for the same amount.

Tax Determination: value of goods taken from stock for private use
TD 2022/15 provides an update of amounts that the Commissioner will accept as estimates of the value of goods taken from trading stock for private use by taxpayers in named industries for the 2022-23 income year.