Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (92 of 2020)

Schedule 2   Temporary loss carry back

Part 3   Consequential amendments

Income Tax Assessment Act 1997

18   At the end of subsection 36-17(1)

Add:

Note 2: A corporate tax entity may also, in the 2020-21 or 2021-22 income year, be able to carry a loss back to the 2018-19, 2019-20 or 2020-21 income year: see Division 160.