Section 61.3

Table of Contents

Section 61.3 - Reserve for debt forgiveness for resident individuals
Subsection 61.3(1)
Administrative Policy(1)
Subsection 61.3(3) - Anti-avoidance
Administrative Policy(1)

Subsection 61.3(1)

Administrative Policy

19 March 2003 External T.I. 2002-0171825 F - DEDUCTION POUR INSOLVABILITE LIQUIDATION

A corporation with no assets and a debt owing to its sole shareholder as its only liability has that debt forgiven (resulting in an income...

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Subsection 61.3(3) - Anti-avoidance

Administrative Policy

19 December 2013 External T.I. 2012-0468851E5 F - Deduction for Insolvency

Mco has a wholly-owned subsidiary (Aco) which is in financial difficulty, is not an insurance corporation, bank or credit union, does not have any...

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