If a Corp has a loss that hpns in the cur yr it is an ABIL upto income after it becomes a non cap loss, but what if the loss hpns in prior yrs - Is it all a non cap loss?

Answer

Hello,

The specified period for which an ABIL remains in the non-capital loss pool before any unused portion reverts to the capital loss pool is:

- for ABILs arising in taxation years ending before March 23, 2004, 7 years and

- for ABILs arising in taxation years ending after March 22, 2004 (including ABILs arising in 2009, not-withstanding the 20-year carry forward period for other non-capital losses), 10 years.

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