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These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
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Notes Online Home 2020 Tax Hot Spots II What's new
Temporary tax loss ‘carry back’ rules
In this section of the seminar notes we discuss the temporary tax loss ‘carry back’ rules. More specifically:
• What losses can be ‘carried back’ under the new rules?
• Which entities are eligible to carry back losses?
• What are the requirements for claiming a ‘loss carry back tax offset’?
• How to calculate a ‘loss carry back tax offset’
• Integrity measures for loss carry back