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  • Loss carry back tax offset tool now available

    If you’re looking to claim the loss carry back (LCB) tax offset in your company tax return, our new tool can help. This tool can help prevent errors and help complete the LCB labels in your company tax return correctly.

    The LCB tax offset tool can be used to:

    • work out your eligibility to claim the tax offset
    • calculate the maximum tax offset amount you can choose to claim
    • display which labels you need to fill out when completing your company tax return to make your LCB claim.

    This interactive tool works through the eligibility criteria using a series of simple tick box style questions.

    If you are eligible, you will then be asked a series of questions to help calculate the maximum amount of LCB tax offset you can choose to claim.

    Importantly, the tool helps with your record keeping by providing you with a printable report outlining:

    • all the information you put into the tool
    • your eligibility to claim the tax offset
    • the maximum amount of tax offset claimable
    • the disclosures for each LCB label in the company tax return that would be required to make your loss carry back claim.

    More information

    Last modified: 24 Nov 2021QC 67362