Govt to forego billions in tax for firms facing covid losses

Wed, 15 Apr 2020

Previously profitable companies that face losses because of the covid-19 pandemic will be allowed to claim forecast losses against previously declared profits in a move the government expects will cost between $1.2 billion and $1.9 billion a year during the next two years.Also included in a package of measures to help small and medium-sized businesses weather the coronavirus storm are new rules that: allow companies to retain their past tax losses even if majority control changes hands; extend deadlines for tenants and landlords to meet financi...

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