Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (92 of 2020)

Schedule 2   Temporary loss carry back

Part 3   Consequential amendments

Taxation Administration Act 1953

36   Section 45-340 in Schedule 1 (after paragraph (da) of step 1 of the method statement)

Insert:

(db) Division 160 of the Income Tax Assessment Act 1997 (the corporate loss carry back tax offset for 2020-21 or 2021-22 for businesses with turnover under $5 billion); or