Loss Carry-Back Relief

Effective Year of Assessment (YA) 2006

1. Current year unutilised CAs and trade losses are allowed to be carried back for one YA immediately preceding that YA in which the CAs are granted or the trade losses incurred;
2. An aggregate amount of $100,000 of current year unutilised CAs and trade losses can be carried back;
3. The current requirements for carrying forward unutilised CAs and trade losses will apply in the same way when these amounts are carried back, i.e., carry on the same trade or business.
4. The carry-back will be given on due claim.

For more details, please refer to Carry-Back Relief System (e-Tax Guide, 522 KB).

To claim the carry-back relief, please submit the  Election Form  (53 KB) as mentioned in paragraph 5.1(c) of the Carry-Back Relief System  (e-Tax Guide, 522 KB).