Losses can be carried backward for up to three years or forward for up to 20 years. You can use this to optimize your tax situation – if you expect your business to become more profitable in subsequent years you may want to carry the losses forward to offset any profits that exceed the small business deduction income limit …

Feb 17, 2015 – To qualify, the other business has to have operated at arm's length and be a “small business corporation” (generally, a Canadian-controlled private corporation that uses 90% or more of its assets in operating an active business in Canada). Similar to business losses, you can carry ABIL back three years, …

The CRA tax treatment of money lost in a failed business investment can work against you in a way that the failure of a business you operated cannot. … the company was a small business corporation at any time during the preceding 12 months;; the corporation owes you a noncollectable debt at the end of the year;; you …

Sep 19, 2017 – Business -> Business losses. Can I Write Off My Business Losses Against My Other Income? If the business is incorporated, the answer to this is no, except for certain dispositions of shares or debt which result in a business investment loss. If the business is not incorporated, the answer is yes. For further …

Jan 11, 2012 – Most of the losses were created by claiming CCA on the equipment he had purchased. Mr. Sumner took CRA to court over the issue, and he lost his case. His story serves as a reminder as to what you need to do if you hope to have a small business (full- or part-time) to open the door to tax deductions.

Apr 2, 2012 – The Canadian Federation of Independent Business, which represents about 108,000 smallbusiness owners, advises on its website that businesses are … claiming a business loss: The CRA could deny a business loss in the current year and assess returns in previous years if you claim a loss on your tax …

Jan 3, 2018 – Information for individuals on allowable (ABIL) and gross business investment losses and their application, including carry-back and carry-forward.