Tax loss carry back legislation passed

Article

Tax loss carry back legislation passed - 14 October 2020

Tax insights

The 2020-21 Federal Budget, handed down on 6 October 2020, included a temporary loss carry back measure. On 7 October 2020, the Government introduced Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020, dealing with the key Budget tax measures including loss carry back. The Bill was passed by the Parliament on 9 October 2020. This Tax Insight on the loss carry back measure is based on the detail as contained in the above Bill.

Tax loss carry back legislation passed
Did you find this useful?