Document ID: chunk:federal_register_of_legislation:C2021C00270:clause:2_34
Version: federal_register_of_legislation:C2021C00270
Segment Type: clause
Provision Reference: sch 2 cl 34
Character Range: 36248–36770

34  Subsection 995‑1(1)
Insert:
carry back: you carry back to an income year so much of a *tax loss for a later income year as you specify, in a *loss carry back choice, to be carried back to the earlier income year.
Note: You can make a loss carry back choice only for the 2020‑21 or 2021‑22 income year.
loss carry back choice has the meaning given by section 160‑15.
loss carry back tax offset has the meaning given by section 160‑5.
loss carry back tax offset component has the meaning given by subsection 160‑10(2).