In Australia can a company's prior tax losses be applied to reduce its tax liability?
Yes, in Australia, a company's prior tax losses can be applied to reduce its tax liability under certain conditions. Here are the key points to consider:Carry Forward: Companies can carry forward tax losses indefinitely and offset them against future income when they see fit, provided they satisfy the requirements set by the Australian Tax Office (ATO). 1
Ann: Quarterly Activities Report & Appendix 4C, page-87
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