Good News: Loss-makers Can Now Get Tax Back!
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  Running Time: 7:32 Date: 01/11/2012 The tax office cares about us! Well who would have thought.... Yup, it all to do with "spreading the benefits of the boom". Let's not argue about whenever that boom was though! The Government in its generosity has decided to introduce draft legislation concerning carry-back rules.It would like to help us through good times and bad. Michael Jones explains in this interview that it doesn't actually start until 2013 and even then you'll need to project forward further. But basically, it means that if you have a good year followed by a bad year in your business, you could be eligible to claim back some money from the ATO. Michael highlights the detail, because of course there is some, but for a change, it's good news from the Tax Office. I guess we should all be grateful for small mercies. Topics: Accounting & Tax |
 Michael Jones, Cummings Flavel McCormack |