May 2021

Business advisors perth

Loss Carry-Back Tax Offset – Why planning before 30 June is so important to this year and future years

By Chris Smith On 6th October the Government released the Federal Budget for 2020/21. A key announcement is the Loss Carry-Back Tax Offset that allows tax losses incurred in FY 2020, FY 2021, and FY 2022 to be offset against tax profits in FY 2019, FY 2020 and FY 2021.

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