Home Forums Money matters Company Tax Loss on Tax Return Reply To: Company Tax Loss on Tax Return

#1181298
ThexArm
Member
  • 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.

Sent from my iPhone using Tapatalk