How to Claim Stock as a Tax Deduction (E-Commerce, Retail, Wholesale)

We discuss how to Claim Stock as a Tax Deduction for your Income Tax Return:
What is Cost of Goods Sold
Calculating Opening Stock
Calculating Purchases
Calculating Closing Stock; Cost, Market Selling and Replacement Methods
Which Closing Stock method is Best?
Wattle Accountants
Presented by: Craig Moschner CA, Principal Accountant
Website: www.WattleAccountants.com.au
Phone: [phone]
Email: [e-mail]
Quote: www.wattleacco...

[@GeriHassdo]

Hello, can I ask a question?
If I’m paying cash wages and withdrawing from my business account. It comes up on the “ wages “ account in zero. Do I have to set up payg or pay tax on these cash wages? I wanna do the right thing but I am confused . Thank you!

[@wattleaccountants]

Hi GeriHassdo,
There is not enough information here to assist us - I would recommend booking a consultation with our accountant to go over the file with you.