Tax Market Update 2014 - Demand for Tax Talent Increases
From current market activity I believe that 2014 will prove to be a significant year with many organisations making the most of the upbeat economic environment .
The “loss carry-back” provision to be included in tomorrow’s budget will see Australian companies claim back overpaid taxes from previous years and reclaim paid taxes for up to $1 million worth of losses.
The rebate will bring Australia into line with Canada, the United States and Britain and will assist Australian companies by improving cash-flows. Treasurer Wayne Swan is set to announce the change tomorrow to be in effect as of mid-2013.
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