The Australian Taxation Office (ATO) has issued a notice on correctly claiming the loss carry back tax offset.
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Correctly claiming the loss carry back tax offset
We've noticed some errors with claims for the loss carry back (LCB) refundable tax offset. To prevent these and ensure your LCB claim is processed as quickly as possible, it's essential you accurately complete all the required LCB labels.
In your company tax return, these include:
- the LCB labels in item 13
- the opening and cl…