LOSS CARRY BACK TAX OFFSET AND TEMPORARY FULL EXPENSING/INSTANT ASSET WRITE OFFS The government has proposed to extend loss carry back tax offset and temporary full expensing by 12 months to 30 June 2023. The loss carry back tax offset was a welcome announcement in the Federal Budget handed down on 6 October 2020. The temporary rules are designed to provide a cash flow support to eligible corporate entities that were previously in a tax paying position but now find…