Company Losses Update
Overview
A guide to using company losses, including new loss carry back measures.
As part of its COVID-19 business support measures, the Government has recently enacted new rules enabling company losses to be carried back to earlier years. This session will look at how the new rules work, as well as highlighting how the new rules fit into the broader company tax loss landscape, including the existing rules about carrying losses forward.
Examining the new law in detail, the session will also contain practical examples illustrating the operation of both the loss carry back rules and the loss carry forward rules.
Amongst the issues to be covered are the following:
- What losses can be carried back?
- Which entities are eligible to make a claim?
- How is a loss carry back calculated and how is the claim made?
- What integrity measures exist and how might they affect clients?
- How the new rules interact with the existing company loss rules
- When can a loss be carried forward?
- Examining and applying the business continuity test and the continuity of ownership test
- What planning can clients undertake to ensure access to company tax losses?
- Understanding ATO guidance on the new rules
Webinar Learning Outcomes:
Participants will gain an in-depth understanding of how the new and existing company loss rules impact their corporate clients, how to advise clients and what planning can be done now or in the future to get the best tax outcomes for clients.
Suited to:
Ideal for tax practitioners, accountants and other professionals who deal with corporate clients and their owners.
You will also be provided with:
- The PowerPoint Presentation Slide Deck
- A Searchable Transcript
- Any Supporting Documentation
- Webinar Recording to view multiple times for up to 6 months
- Q&A Session & follow up contact details
Course syllabus
3 lessons
- Video – Company Losses UpdateVideo
- Knowledge QuizTest
- FeedbackSurvey
Your presenter
Mark ChapmanH&R Block
has been Director of Tax Communications with H&R Block Australia since 2015. He is also the author of Life and Taxes: A Look At Life Through Tax and has recently edited and updated both the second and third editions of Australian Practical Tax Examples, published in 2019 and 2020 respectively, all published by Wolters Kluwer CCH Australia.
Mark has over 25 years’ experience as a tax professional in both the UK and Australia, specialising in tax for small business and individuals. He is a fellow of the Institute of Chartered Accountants in England and Wales, a fellow of CPA Australia and a member of the Chartered Institute of Taxation. He holds a Masters of Taxation Law with the University of New South Wales.
Mark writes regularly on tax issues for numerous media outlets and presents on topical tax topics at seminars and other events. He broadcasts frequently on radio and television and writes a regular column for Money Magazine and Yahoo7 Finance. As a tax practitioner in the UK, he occupied a number of senior positions before moving to Australia in 2007 to join the Australian Taxation Office (ATO) as a senior director.