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Recorded Webinars

Recorded Webinar: Looking Backwards to Get Ahead Using the Tax Loss Carry Back Measures

Whilst tax losses are usually required to be carried forward, an alternative is available for eligible corporate tax entities to choose to “carry back” a tax loss and obtain a refundable tax offset. This session provides a detailed analysis of these new rules, including:
PRESENTED BY Andrea Carrick Director, SMSF Specialist Advisor - AG Tax Lawyers , Melbourne

Date/Time

About the Webinar

Whilst tax losses are usually required to be carried forward, an alternative is available for eligible corporate tax entities to choose to “carry back” a tax loss and obtain a refundable tax offset. This session provides a detailed analysis of these new rules, including:

  • What are the conditions that need to be met?
  • How to calculate the “loss carry back tax offset component” using worked examples from both the legislation and explanatory memorandum that include:
  • a non base rate entity scenario
  • a base rate entity scenario
  • a loss year as a result of applying temporary full expensing
  • Why the choice of firstly carrying back the earliest loss year available where there is more than one loss year to choose from, can make a difference to the amount of the refundable tax offset for base rate entities
  • The importance of monitoring the balance of the franking account at the end of the “current year”
  • What about capital losses?
  • The integrity rule that can deny the loss carry back tax offset entitlement

Presented By

Andrea Carrick
Director, SMSF Specialist Advisor, AG Tax Lawyers Melbourne, Vic

Andrea has over 18 years of experience advising SMEs and high net worth individuals in all areas of taxation including income tax, CGT, GST and state taxation matters. She advises both corporate and private family businesses across a wide range of industries, focusing on complex business restructuring, commercial transactions and estate and succession planning. Andrea also has a wealth of experience liaising and negotiating with the ATO and Revenue Offices on behalf of clients in audits, investigations, objections and private ruling applications.

Andrea has a keen focus on superannuation, particularly in respect of SMSFs. She has extensive experience advising SMSF trustees and their advisers in regulatory and compliance matters and maximising opportunities for members with the intersection of the Small Business CGT Concessions and Superannuation. Andrea recognises the value of practical advice and is passionate about making these complex areas of tax and superannuation user friendly and accessible.

Andrea is a regular presenter for the TEN The Education Network, Legalwise Seminars and CPA tax discussion groups.

Who Should Attend?

This webinar is suitable for accountants advising in taxation matters – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD/Training hour. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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