loss carry back tax offset

12-Month Extension Of The Temporary Loss Carry Back Tax Offset

By Warren Kruger / March 8, 2022 / 0 Comments

As announced in the 2020/2021 Federal Budget, legislation has now passed to allow eligible corporate entities (i.e., with, amongst other things, an aggregated turnover of less than $5 billion) a 12-month extension to claim a loss carry-back tax offset in the 2023 income year. The temporary loss carry-back rules were initially implemented in 2020 to […]

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