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"Trading stock - don't get caught" presentation

Member Price: Free
Non Member Price: $15.00

DisclaimerThis material is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 19 Mar 13 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

Your clients agribusinesses are getting more complex every year especially in relation to trading stock. Many hold trading stock over multiple periods and often apply it for different uses. Yet many only understand their business decisions on the basis of cash in and out. These changes present the tax practitioner with more challenges than ever. This presentation considers how to apply the trading stock provisions in this ever changing environment.

Specific topics include:

  • trading stock provisions generally
  • what is stock “on hand” – not as straightforward as you think
  • extensions to and departures from the basic definition of trading stock
  • how to handle “uncertain future use”
  • disposals of trading stock not in the ordinary course of business
  • valuation options and full absorption costing
  • industries specific issues and examples.

Author profile

Michael MCCLAREN
Click here to expand/collapse more articles by Michael MCCLAREN.

 

This was presented at Agribusiness - Planning to Succeed .

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