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January 2022 Newsletter
ABIL not allowed
In general terms, you can have an allowable business investment loss (ABIL) if you have a loss on a loan to a Canadian-controlled private corporation that is also a small business corporation. Other conditions can apply.
An ABIL is a type of an allowable capital loss (which is half of an actual capital loss). The main difference is that an ABIL can be used to offset all sources of income, whereas a regular allowable capital loss can normally offset only taxable capital gains and not other sources of income.
Third Quarter 2021
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