Where a person makes a claim requiring relief for a loss incurred in a later year to be given by reference to the tax payable in an earlier year, the claims do not have to be made in a return. Thus they can be made as stand-alone claims. We take the view that such a claim can even be made before the return, for the year in which the loss arose, is submitted. The claims involved are:
•Carry back of trade losses S64(2)(b) or S64(2)(c) ITA 2007
•Carry back of losses in the early years of a trade under S72 ITA 2007
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