New loss carry-back provisions will be restricted to revenue losses and not capital losses.
On Friday, Treasury issued a discussion paper, providing details of the operation of the new loss carry-back arrangements and calling for submissions.
The Government announced in the Budget that companies would be allowed to claim losses against earnings in previous years.
Lenders are among those that stand to gain from the change. The poor cash-flow situation that many companies suffer because of the current treatment of losses limits their ability to service...
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