Carry Back COVID Losses for a Refundable Tax Offset
Under recently enacted legislation, companies with an aggregated turnover of less than $5 billion can choose to ‘carry back’ tax losses made in the 2020, 2021 and/or 2022 income years, and apply them against profits made from the 2019 income year, to claim a tax offset for tax paid on those earlier profits.
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Mark Semmens
Mark is a Chartered Accountant with a wealth of experience in accounting and taxation. Mark is a Member of Chartered Accountants Australia and New Zealand, the Tax Practitioners Board and the National Tax and Accountants Association.
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Daniela Semmens
Daniela Semmens is a Co-Director of Semmens & Co. and joined the company as General Manager in 2017. Daniela is an Affiliate Member of Chartered Accountants Australia and New Zealand and also a Member of the Australian Institute of Project Management.
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