How can I create a new opportunity directly on close of existing opportunity or winning an opportunity (CRM Online)

Hi Guys.

I create an opportunity in CRM Online, once I close the opportunity I create another opportunity for next year. I want to automate this process such that when you close/Win an opportunity, a new opportunity is created automatically for next year and has the same details as previous one but ofcourse different date. 

Can this be done via Workflow or business rule? 

Regards,

Zeeshan