Certain businesses can now opt to carry back their tax losses, under new tax rules.
If an entity has made a loss in the current or previous tax year, it may be eligible to carry this loss back by up to two years.
Companies can carry back up to $300,000 however they can also choose to carry back only part of the tax loss.
Please note: There are limitations and conditions that apply to the new loss carry back rules. Please contact your Accountant to find out if you are eligible.
Click Here to visit the ATO website for further information.