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

7   Paragraph 320-149(2)(aa)

Omit "2020-21, 2021-22 or 2022-23 for businesses with turnover under $5 billion", substitute "entities that are not significant global entities".