The Australian Taxation Office (ATO) published guidance on the loss carry back offset relief introduced as part of measures for the 2020-21 Budget. As previously reported, the relief allows businesses with turnover up to AUD 5 billion to carry back losses incurred in 2019–20, 2020–21, and/or 2021–22 against profits made in or after 2018-19, with the option of electing to receive a tax refund w…