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To help you get it right from the start, it is important that you claim your loss carry-back the correct way for your business or organisation. The design of the current 2019 and 2020 returns has not changed, this means that in some circumstances we require you to populate the information for loss carry-back into the existing loss carry forward fields.

Individuals

When claiming a loss carry-back, enter it under "Losses brought forward from previous years" in the "Net losses claimed this year" field in your return.

Companies

When claiming a loss carry-back, enter it under “Losses brought forward from previous years”  in the “Net losses claimed this year” field in your return.

Partnerships and look-through companies

If you are a partnership or look-through company, each partner or shareholder needs to elect into the loss carry-back scheme. The partnership or look through company does not need to elect into the loss carry-back scheme.  

Trusts

When claiming a loss carry-back, enter it under “Losses brought forward from previous years” in the “Amount claimed this year” field in your return.

Māori authorities

When claiming a loss carry-back, enter it under “Losses brought forward from previous years” in the “Amount brought forward” field in your return.

Clubs or societies

When claiming a loss carry-back, enter it under “Losses brought forward from previous years” in the “Net losses brought forward” field in your return.

Registered superannuation fund

When claiming a loss carry-back, select “income” to bring up the loss section and enter it in the “Net losses brought forward from previous years” field in your return.