Refunds for Tax Losses
2020-2021, Carried Back, Claim, Compny, COVID, COVID-19, Federal Budget, Income, Loss, Offset Tax, Paid, Refund, Tax, Tax Loss, Tax Refund
If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020-21 Federal Budget, the Government announced that businesses with turnover under $5bn* will be able to offset any losses made between 2019-20 and 2021-22 against previously taxed profits between 2018-19 and…
