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Income tax: is it always necessary for a retailer to make a police complaint before the benefit of a deduction for stock shortages will be accepted?

Preamble

No. A police complaint is only one form of evidence of a stock shortage.

Where there is sufficient other evidence establishing the shortage, the retailer is not required, under section 28 of the Income Tax Assessment Act 1936, to bring the missing items into the closing stock figure.

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