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  • Complete Label E to get your loss carry back refundable tax offset

    Recently we have noticed some errors with claims for the loss carry back (LCB) refundable tax offset.

    If you make an error when claiming your tax offset, this may:

    • delay your receipt of any refund owing
    • delay the processing of your claim
    • result in an incorrect claim
    • result in your choice being considered as not having been made

    To prevent errors and ensure your LCB claim is processed as quickly as possible, it is essential that you accurately complete all of the required LCB labels.

    In your company tax return, this includes:

    • the LCB labels in item 13
    • the opening and closing franking account balance labels in item 8
    • the Refundable tax offsets label (Label E) in the calculation statement, where you add the LCB tax offset amount from label 13S (if you don’t complete this label you won’t receive any refund owing from your LCB claim)

    To help you work out which labels you need to complete refer to our Company tax return instructions.

    You can also watch our video on how to claim the loss carry back tax offsetExternal Link which has examples of how to complete these labels.

    More information:

    Last modified: 04 Nov 2021QC 67256