- Total posts: 253
Only tax losses can be carried forward. Not all business losses.
You may be aware that not all expenditure is classified as deductible as per ATO. So, the profit/loss number you see on Tax return rarely matches with your normal books.
I am not a tax accountant but you need to consult a registered tax agent for advise.
From your post I can see you are trying to help out a business doing bookkeeping work. Bookkeeping is also regulated these days, so please mindful that you don’t provide advise/work in regulated matters.
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