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

Income Tax Assessment Act 1997

23   After paragraph 195-15(5)(b)

Insert:

(c) section 195-37 does not prevent the company from *carrying back its tax loss for the purpose of working out the amount of the company's *loss carry back tax offset for the 2020-21 or 2021-22 income year;