For information from the ATO website refer to:
The labels included at this item are:
Any company which is a subsidiary member of a consolidated or MEC group at the end of the 2017-18 income year is not required to complete labels U and V. Other companies, including the head company of a consolidated group at the end of the 2017-18 income year, may need to complete labels U and V.
Show at label U the unapplied, that is, undeducted or not transferred amount of tax losses, including the foreign loss component of a tax loss, incurred by the company and carried forward to the next income year under section 36-17 of the ITAA 1997.
On the Front Cover of the return the consolidation status of the company is shown. Depending on this status the appropriate schedule will open at label U:
For the head company of a consolidated group refer to Consolidated Groups Losses Schedule (BX) .
If the company claimed a loss carry- back tax offset in the 2013–14 income year which was amended due to the repeal of the offset, you should review the amount of losses carried forward to later income years.
Show at label V the total of any unapplied net capital losses from collectables and all other CGT assets and events. This information is calculated or transferred from:
The CGT worksheet (g), or
The CGT schedule (BW) (Part I labels H and I), if a CGT schedule has been completed.
Refer to the publication Guide to capital gains tax that can be found on the ATO Capital gains tax home page.
If the company is required to complete a losses schedule, the amount shown at Part A label V Net capital losses carried forward to later income years of that schedule must be the same as the amount shown at label V Net capital losses carried forward to later income years in the company tax return.
Click label V Net capital losses carried forward to later income years to open the worksheet (g), refer to Capital gains worksheet (g). By selecting to populate the BW, the data will be integrated to the BW schedule, refer to Capital gains schedule (BW).