Item P19 - Trading stock election

See Item P19 - Trading stock election on the ATO website. You may then need to expand the list in the left-hand panel, and click the link to P19.

Has the taxpayer made a trading stock election?

The Commissioner must be notified if the business has valued trading stock on hand at the end of the income year at less than the lowest amount using the available methods at Closing stock - item P8.

Select YES if you must notify the Commissioner, otherwise leave this item blank.

CCH References

9-150 Trading stock

9-180 How to value trading stock

9-200 Methods used to work out the cost of trading stock