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2021 income tax returns

Enter the loss carried back in the "loss carry back" field provided on your income tax return.

2020 income tax returns

The design of the 2019 and 2020 returns was not changed for loss carry-back, this means that in some circumstances we require you to populate the information for loss carry-back into the existing loss carry forward fields as outlined below.

Individuals

When claiming a loss carry-back, enter it in the "Net losses claimed this year" field in your return In myIR this is found from the page headed “The information below is what Inland Revenue holds”. Select “I have losses brought forward from previous years” and enter the loss carry-back amount in the “Net loss claimed this year” box on the following page.

Do not enter the loss-carry back amount in the “Loss amount brought forward” box.

Companies

When claiming a loss carry-back, enter it in the “Net losses claimed this year"  field of your return. In myIR this is found from the page headed “The information below is what Inland Revenue holds”. Select “I have losses brought forward from previous years” and enter the loss carry-back amount in the “Net loss claimed this year” box on the following page.

Do not enter the loss-carry back amount in the “Loss amount brought forward” box.

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.

Last updated: 12 Jul 2021
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