Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If the * current year is the 2020 - 21 income year:
(a) the entity cannot * carry back an amount of a * tax loss to the 2018 - 19 income year unless the entity was a * corporate tax entity throughout:
(i) the 2018 - 19 income year (disregarding any period when the entity was not in existence); and
(ii) the 2019 - 20 income year; and
(b) the entity cannot carry back an amount of a tax loss to the 2019 - 20 income year unless the entity was a corporate tax entity throughout the 2019 - 20 income year (disregarding any period when the entity was not in existence).
Note: The entity must be a corporate tax entity throughout 2020 - 21: see paragraph 160 - 5(b).
(2) If the * current year is the 2021 - 22 income year:
(a) the entity cannot * carry back an amount of a * tax loss to the 2018 - 19 income year unless the entity was a * corporate tax entity throughout:
(i) the 2018 - 19 income year (disregarding any period when the entity was not in existence); and
(ii) the 2019 - 20 income year; and
(iii) the 2020 - 21 income year; and
(b) the entity cannot carry back an amount of a tax loss to the 2019 - 20 income year unless the entity was a corporate tax entity throughout:
(i) the 2019 - 20 income year (disregarding any period when the entity was not in existence); and
(ii) the 2020 - 21 income year; and
(c) the entity cannot carry back an amount of a tax loss to the 2020 - 21 income year unless the entity was a corporate tax entity throughout the 2020 - 21 income year (disregarding any period when the entity was not in existence).
Note: The entity must be a corporate tax entity throughout 2021 - 22: see paragraph 160 - 5(b).
(3) If the * current year is the 2022 - 23 income year:
(a) the entity cannot * carry back an amount of a * tax loss to the 2018 - 19 income year unless the entity was a * corporate tax entity throughout:
(i) the 2018 - 19 income year (disregarding any period when the entity was not in existence); and
(ii) the 2019 - 20 income year; and
(iii) the 2020 - 21 income year; and
(iv) the 2021 - 22 income year; and
(b) the entity cannot carry back an amount of a tax loss to the 2019 - 20 income year unless the entity was a corporate tax entity throughout:
(i) the 2019 - 20 income year (disregarding any period when the entity was not in existence); and
(ii) the 2020 - 21 income year; and
(iii) the 2021 - 22 income year; and
(c) the entity cannot carry back an amount of a tax loss to the 2020 - 21 income year unless the entity was a corporate tax entity throughout:
(i) the 2020 - 21 income year (disregarding any period when the entity was not in existence); and
(ii) the 2021 - 22 income year; and
(d) the entity cannot carry back an amount of a tax loss to the 2021 - 22 income year unless the entity was a corporate tax entity throughout the 2021 - 22 income year (disregarding any period when the entity was not in existence).
Note: The entity must be a corporate tax entity throughout 2022 - 23:
see paragraph 160 - 5(b).