Foundations of Tax 2021-23 – Session 6: Trading stock

For a business involved in the sale of goods, trading stock can comprise a significant portion of the business’ assets. This session allows participants to get familiar with the complex trading stock rules and ensure they are able to apply the rules correctly in a variety of scenarios.

This session was recorded on 25 November 2021.
On successful completion of this topic, participants should be able to:
  • Demonstrate an understanding of what constitutes ‘trading stock’ for tax purposes
  • Comprehend the key principles of tax accounting for ‘trading stock’
  • Identify transactions involving trading stock for tax purposes
  • Demonstrate an understanding of concessions available for small business in accounting for trading stock for tax purposes
  • Apply these issues in a practical context.
This session forms part of the Foundations of Tax Series

These concise sessions have been specifically designed for our online education platform, to ensure that you get an in-depth understanding of the fundamental tax topics in minimal time.

Tristan Webb 
Senior Tax and Superannuation Trainer, Chartered Accountants ANZ
Tristan has more than 25 years’ tax experience in organisations such as the Australian Taxation Office, PwC, CCH and HLB Mann Judd. He was the national tax director at Crowe Horwath immediately before joining Chartered Accountants ANZ. His role required a good working knowledge of tax and risk issues for mid-tier accounting firms operating in the small to medium enterprise (SME) sector. Tristan’s expertise is in company and trust taxation for SMEs and high net worth clients.


Topic: Tax

Sub-Topic: Business Tax, Employment Taxes - PAYE, PAYG & FBT, Income Tax, International Tax, State/Territory Taxes, Tax Administration

Format: Recorded Webinar

Proficiency Level: Foundation

CPD: Upto 1.5 hours