Loss carry back tax offset tool

The loss carry back tax offset tool helps you work out if you can claim the refundable tax offset and the maximum amount you can claim.

On this page

• What the tool does
• Tool limitations
• Who can't use this tool
• Information you need for this tool
• Access the tool

What the tool does

This tool helps you:

• work out if you are eligible to claim the loss carry back tax offset
• calculate the maximum amount of tax offset you can claim if you are eligible
• by providing a printable report with  
  • all the information you provided
  • your eligibility
  • the maximum amount of tax offset claimable
  • the disclosures for each label in the company tax return that would be required to make your loss carry back claim.
   

You can use the loss carry back tax offset tool when preparing your company tax return for the 2020–21 or 2021–22 income year.

You can now use the tool to calculate your eligibility and maximum amount of tax offset for the 2022–23 income year. However, you will not be able to lodge your loss carry back tax offset claim for the 2022–23 income year until the 2023 company tax return is available.

Tool limitations

The loss carry back tax offset tool is intended as a guide to help you understand:

• whether you can claim the tax offset
• the maximum amount of tax offset you can claim based on the information you provide.

Claiming the maximum amount of tax offset may not always be the best option for your business. Consider your own circumstances when making your decision to claim a loss carry back tax offset in your company tax return. Seek professional advice if you're unsure or need help to make the choice for your business.

Who can't use this tool

You can't use the tool if you did not have the same residency status in all of the relevant income years that you had an income tax liability.

Information you need for this tool

You will need the following information to use this tool:

• your income tax lodgment history
• for the income years that you have a tax loss (2019–20 and later income years)    
  • the amount of your tax losses
  • your tax rate for that year
  • your aggregated turnover for that year or the prior year
   
• for the income years that you have a tax liability (2018–19 and later income years)    
  • the amount of your income tax liabilities
  • the amount of net exempt income (if any)
   
• the opening and closing balance of your franking account for the income year you are preparing to lodge.

Access the tool

• Loss carry back tax offset tool – it will take between 2 and 15 minutes to use this tool.