The Government is reintroducing loss carry back to support business risk taking and resilience.
From 2026–27, eligible companies that make a loss in the current income year will be able to use that loss to get a refund against tax paid in the prior two income years. This is expected to benefit small businesses.
Start up support
The Government is also introducing loss refundability to support new start‑up businesses. From 2028–29, small start‑ups in their first two years of operation will be able to get a refund for tax losses, up to the value of fringe benefits tax and withholding tax paid on employee wages.
Disclaimer: This does not purport to be comprehensive or to render legal advice. You should not act based on any information contained in this publication without first obtaining specific professional advice. Consult your legal advisor to determine if this applies to you.
