• Using Tax Losses within a Corporate Group
  • March 5, 2012 | Author: Steve Suarez
  • Law Firm: Borden Ladner Gervais LLP - Toronto Office
  • In difficult economic times, businesses need to make the best use possible of their resources. This includes any tax attributes available to them to offset taxable income or gains they may have. This BLG Bulletin discusses some of the planning opportunities that a Canadian corporation may have for using tax losses of a related Canadian corporation. Such planning is especially important in Canada, because the Income Tax Act (Canada) (ITA) does not contain rules for group relief that simply consolidate one corporation’s losses against income of a related corporation.