Head $21\mathrm{.}2$ Green Planet Pty Ltd was incorporated to research and develop a new technology to produce biodegradable plastic from seaweed. After making losses for several years, a venture capital company purchased $60\%$ of the shares in the company. The company then discovered that the "seaweed to plastic" technology can also be used to make an organic fertiliser. This new product contributed $40\%$ of the turnover of the company, which turned around and made a profit in the current income year. Advise whether the company can use the carry forward losses in this income year, aistralian tax