Simplified trading stock rules

Under the simplified trading stock rules, you don’t have to:

  • conduct a formal stocktake;
  • account for the changes in your trading stock’s value.

You can use the simplified trading stock rules if you:

  • are a small business with an aggregated turnover of less than $10 million a year (or from 1 July 2021, with an aggregated turnover of at least $10 million but less than $50 million a year); and
  • reasonably estimate that the value of your trading stock changed by less than $5,000 in the year.

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