Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p15
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 15/29)
Character Range: 2881466–2884045

and
             (b) is only available for losses for years for which the entity's turnover was less than $5 billion.

Subdivision 160‑A—Entitlement to and amount of loss carry back tax offset

Table of sections
160‑5 Entitlement to loss carry back tax offset
160‑10 Amount of loss carry back tax offset

160‑5  Entitlement to loss carry back tax offset
  An entity is entitled to a *tax offset (the loss carry back tax offset) for the *current year if the following conditions are satisfied:
 (a) the current year is:
 (i) the 2020‑21 income year; or
 (ii) the 2021‑22 income year; or
 (iii) the 2022‑23 income year;
 (b) the entity is a *corporate tax entity throughout the current year;
Note: See also section 160‑25.
 (c) any or all of the following income years were *loss years:
 (i) the 2019‑20 income year;
 (ii) the 2020‑21 income year;
 (iii) if the current year is the 2021‑22 income year—the 2021‑22 income year;
 (iv) if the current year is the 2022‑23 income year—the 2022‑23 income year or the 2021‑22 income year;
 (d) the entity had an *income tax liability for any or all of the following income years:
 (i) the 2018‑19 income year;
 (ii) the 2019‑20 income year;
 (iii) if the current year is the 2021‑22 income year and the 2021‑22 income year was a loss year—the 2020‑21 income year;
 (iv) if the current year is the 2022‑23 income year and the 2022‑23 income year was a loss year—the 2021‑22 income year or the 2020‑21 income year;
 (v) if the current year is the 2022‑23 income year and the 2021‑22 income year was a loss year—the 2020‑21 income year;
 (e) any of the following requirements are satisfied for the current year and each of the 5 income years before the current year:
 (i) the entity has lodged its *income tax return for the year;
 (ii) the entity was not required to lodge an income tax return for the year;
 (iii) the Commissioner has made an assessment of the entity's income tax for the year;
 (f) the entity makes a *loss carry back choice for the current year in accordance with Subdivision 160‑B.
Note 1: The entity can be entitled to only one loss carry back tax offset for 2020‑21. However, that offset has 2 components: one relating to 2018‑19 and one relating to 2019‑20: see section 160‑10.
Note 2: The entity can be entitled to only one loss carry back tax offset for 2021‑22. However, that offset has 3 components: one relating to 2018‑19, one relating to 2019‑20 and one relating to 2020‑21: see section 160‑10.
Note 2A: The entity can be entitled to only one loss carry back tax offset for 2022‑23. However, that offset has 4