June 30 falls on a Sunday this year. Can my business conduct a stocktake on 1st July and use this for end of financial year figures.
194 views
194 views1 replies
1 replies
194 views
1 replies
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
Hi @Taxquestions25,
No, you need to value trading stock:
- the beginning of the income year
- the end of the income
If there are any differences, this can impact what assessable income you'll need to declare. You'll need to keep this for record keeping purposes.
Check the info on General trading stock rules which you may find helpful.
All replies
Hi @Taxquestions25,
No, you need to value trading stock:
- the beginning of the income year
- the end of the income
If there are any differences, this can impact what assessable income you'll need to declare. You'll need to keep this for record keeping purposes.
Check the info on General trading stock rules which you may find helpful.
Featured articles
7 Apr 2026 · 2 min read time
22 Apr 2024 · 3 min read time
15 Apr 2026 · 4 min read time