Losses are transferred when new report for the next year is created. Also user can rollover anytime from previous year using Rollover button.
Currently Capital, Tax and Deferred losses are transferred to the next year.
ATO guide - Loss carry back tax offset tool
Applying PRIOR YEAR LOSS
Carried Forward Loss
- Company: Loss carry-back offset (eligibility requirements)
- Loss carry-back for companies
- Declining tax rates
- Carry back rebate
Trust Losses (Carried Forward Loss) in Trust tax Return (TRT)
How to use Deferred Business Losses (Carried forward Loss) in Individual Tax Return (ITR)
Other Related Articles:
Trust Tax Return (TRT) loss distribution
Record Partnership Deferred Losses
ITR with Partnership (loss with < $20K assessable income)
FAQ:
Q: How to fill in this “ADD tax loss amount from conversion of excess franking offsets”
A: This amount can be written at Financial information section at 8H field. How it is calculated you can found here.
Note: Loss carry back tax offset cannot be more than Closing franking account balance. User can read how to complete franking account records here- https://www.ato.gov.au/business/imputation/paying-dividends-and-other-distributions/franking-account/"