Treasury Laws Amendment (Tax Reform No. 2) Act 2026 (71 of 2026)

Schedule 1   Loss carry back tax offset

Part 2   Other amendments

Income Tax Assessment Act 1997

3   Section 36-17 (note 2)

Repeal the note, substitute:

Note 2: A corporate tax entity may also be able to carry a loss back to an earlier income year: see Division 160.