--- title: Private Use of Trading Stock description: Private use of trading stock must be included in assessable income --- - [Facebook](https://www.facebook.com/Quantum-Business-House-152698788154774/) - [Twitter](https://twitter.com/QuantumBizHouse) - [Gplus](https://plus.google.com/+QuantumhouseAu) - [Linkedin](https://www.linkedin.com/company/quantum-business-house/) SYDNEY | MELBOURNE | BRISBANE | 1300 809 697 [![Accountants & Tax Advisers](https://blog.quantumhouse.com.au/hs-fs/hubfs/raw_assets/public/QuantumHouse_October2020/images/quantum-logo-new1.png?width=560&height=472&name=quantum-logo-new1.png "Accountants & Tax Advisers")](https://www.quantumhouse.com.au/) - [Home](https://www.quantumhouse.com.au/) - About Us - [Who We Are](https://www.quantumhouse.com.au/who-we-are/) - [Vision](https://www.quantumhouse.com.au/who-we-are/vision/) - [Careers at Quantum](https://www.quantumhouse.com.au/who-we-are/career-at-quantum/) - [Our Services](https://www.quantumhouse.com.au/our-services/) - [Business Services & Compliances](https://www.quantumhouse.com.au/our-services/business-services-business-accountants-business-services/) - [Business Setup & Closing](https://www.quantumhouse.com.au/our-services/business-setup/) - [Outsourced CFO for International Companies](https://www.quantumhouse.com.au/our-services/outsourced-cfo/) - [Taxation](https://www.quantumhouse.com.au/our-services/taxation/) - [Assurance & Advisory](https://www.quantumhouse.com.au/our-services/trust-audit-business-valuation-due-diligence/) - [Xero Accounting](https://www.quantumhouse.com.au/our-services/xero-accounting/) - [R&D Tax Incentive and EMDG](https://www.quantumhouse.com.au/our-services/grant-consulting/) - [International Trade & Transactions Support](https://www.quantumhouse.com.au/our-services/international-trade-support/) - [Business Performance Review and Evaluation](https://www.quantumhouse.com.au/our-services/business-performance-evaluation/) - [E-Commerce Automation](https://www.quantumhouse.com.au/our-services/e-commerce-automation/) - [Self Managed Super Fund (SMSF)](https://www.quantumhouse.com.au/our-services/self-managed-super-fund-accountant/) - [Tax Audit Guarantee Program](https://www.quantumhouse.com.au/our-services/tax-audit-guarantee-program/) - [Industry](https://www.quantumhouse.com.au/industry/) - [Childcare Services](https://www.quantumhouse.com.au/industry/childcare-accountants/) - [Hospitality](https://www.quantumhouse.com.au/industry/hospitality/) - [Exporters](https://www.quantumhouse.com.au/industry/export-accounting-specialist/) - [Construction & Building](https://www.quantumhouse.com.au/industry/construction-accountants/) - [Wholesale](https://www.quantumhouse.com.au/industry/real-estate-agents/) - [Real Estate Agents](https://www.quantumhouse.com.au/industry/real-estate-agents/) - [Information Technology](https://www.quantumhouse.com.au/industry/information-technology/) - [International Traders](https://www.quantumhouse.com.au/industry/international-traders/) - [Medical Practices](https://www.quantumhouse.com.au/industry/medical-practices/) - [Legal Practices](https://www.quantumhouse.com.au/industry/legal-practice/) - [Information Centre](https://www.quantumhouse.com.au/information-centre/) - [Business News](https://www.quantumhouse.com.au/information-centre/business-news/) - [Quantum Business & Tax Channel](https://www.quantumhouse.com.au/information-centre/quantum-business-and-tax-channel/) - [Contact Us](https://www.quantumhouse.com.au/contact/) - [Client Portal](https://quantumhouse.acclipse.com/clientportal/) Search **Menu** # Tax Bulletin – Private Use of Trading Stock for Food Related Businesses If you run a food related business and take some foods from your business to home consumption, then; **You must include the cost or market value of the food you have taken home in your assessable income.** This is because you purchased the food as trading stock and you have effectively “applied to own use” the trading stock by taking it home. The ATO has just released (TD 2012/20) the values that you must use to recognise the fact that you have consumed some of your trading stock for the 2011-2012 year. The amounts stipulated in the Schedule within TD 2012/20 are reproduced in table below:   | **Type of business** | **$ amount for each adult/child over 16   years\*** | **$ amount for each child aged 4-16   years\*** | | --- | --- | --- | | Bakery | 1,300 | 650 | | Butcher | 770 | 385 | | Restaurant/cafe (licensed) | 4,300 | 1,685 | | Restaurant/cafe (unlicensed) | 3,370 | 1,685 | | Caterer | 3,640 | 1,820 | | Delicatessen | 3,370 | 1,685 | | Fruiterer/greengrocer | 760 | 380 | | Takeaway food shop | 3,240 | 1,620 | | Mixed business (includes milk bar, general store and convenience   store) | 4,030 | 2,015 | *\* Note that these amounts exclude GST* ## **Safe Harbour But Not Compulsory** Notwithstanding the above, the Commissioner acknowledges the difficulties associated with tracking items of trading stock that are taken for private consumption and therefore to reduce this administrative burden provides the schedule of amount in TD 2012/20 that taxppayers of specific industries can include as assessable income in their income tax returns.     October 17, 2012 / by [Ben Youn](https://blog.quantumhouse.com.au/information-centre/business-news/author/ben-youn) ##### Share this entry - 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