In the 2020-21 Federal Budget, the Government announced that businesses with aggregated annual turnover of less than $5 billion would be able to carry back losses from the 2020, 2021 and 2022 income years to offset previously taxed profits in the 2019, 2020 and 2021 income year. The new rules have already been rushed through Parliament.
The New Loss Carry-Back Rules Webinar works through the detail of the new rules to help you identify clients who might be able to take advantage of these temporary measures.
We work through the conditions that need to be met to access the loss carry-back rules, the options that are available for dealing with losses while this measure is in place and how to calculate loss carry-back tax offsets.
This practical session covers:
Tax Director, Knowledge Shop
Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Easton group’s national tax committee.
Michael has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy.
Michael is a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.
He was also an expert panel member for the Board’s review of tax impediments facing small business.
*The office rate applies per office location (maximum 10 participants per office location). The PD points for all attendees will be recognised - multiple links at same location if required. We will contact you for the names of your team once you have registered as an office.