CRA on Net Capital Losses for Health & Welfare Trusts

In 2013-0506691I7, the CRA stated that Health & Welfare Trusts are permitted to deduct net capital losses when computing taxable income under Division C of the Income Tax Act or adjusted taxable income under Division E.1 of the Income Tax Act, or both, so long as certain provisions of the Income Tax Act are adhered to.

Prepared by: Asif Abdulla

Asif Abdulla is a partner working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »