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March 2, 2024

Tax Perspectives

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Please note that these publications may not be up-to-date as taxation matters are subject to frequent changes.

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Winter 2008
Volume 8, Number 2

The information in Tax Perspectives is prepared for general interest only. Every effort has been made to ensure that the contents are accurate. However, professional advice should always be obtained before acting and TSG member firms cannot assume any liability for persons who act on the basis of information contained herein without professional advice.

Using Corporate Losses

By Rishma Jessa, CGA, MTAX
Cadesky and Associates LLP (Toronto)

Losses that are sustained by a Canadian corporation can be carried back for three years and carried forward for 20 years if the losses are operating losses, or indefinitely if the losses are capital losses. In difficult economic times, the key question to be asked is, “How can corporate losses be converted into cash through a tax refund?”