Basically, the Structure of the Carry-back Rules the provisions operate as follows: start day is 1 July 2012; a one year carry-back applies for 2012/13 tax losses; up to $1 million worth of tax losses are subject to ‘carry-back’ each year for a company to receive a refund of tax paid in a prior year, […]
The government and the ATO have announced help for taxpayers affected by the recent floods and bushfires that have been plaguing the country for the past weeks. The government has announced that it will provide tax deductible status to relief funds established to help Australians affected by bushfires and floods. In addition, the ATO will […]
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