The Australian Taxation Office (ATO) has published new guidance, with examples, on how to change a loss carry back choice and whether a change will affect assessments for subsequent income years. The primary guidance is as follows:
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Change in loss carry back choice
How to change your loss carry back choice and whether a change will affect your assessments for subsequent income years.
Changing loss carry back choice
When you made your original loss carry back choice, you specified h…