The Working Group has now completed its interim report on the tax treatment of business losses. The interim report explores the tax treatment of losses in Australia, in particular how this treatment affects Australian businesses’ ability to respond to emerging challenges and take advantage of new opportunities presented by changes in the local and international economy. The report also outlines possible reform options that may increase business productivity, while delivering tax relief to struggling businesses.
The Business Tax Working Group now invites written submissions from businesses and the wider community on the issues and ideas raised in the interim report.
The Working Group has prepared a consultation guide, which includes framing questions to guide the preparation of submissions. Submissions in response to the interim report will inform the Working Group’s final report on the tax treatment of losses in 2012.