Loss carry back is a tax offset introduced by the Federal government as a measure to combat the impact of COVID-19 lockdowns on businesses. It allows eligible businesses to carry back losses to earlier years in which there were income tax liabilities, resulting in a cash refund, a reduced tax liability, or a reduction of debt owing to the ATO.

Click to read our article: Loss Carry Back: Beware of Common Mistakes (0.84MB PDF)

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