5 April 1994 T.I. (C.T.O. "Debtor's Gain on Settlement of Debt")

Non-capital losses arising before an acquisition of control can be utilized under s. 80(1)(a) even though the prospects for such losses otherwise being deducted from taxable income for future taxation years are less than 100%.

Non-capital losses arising before an acquisition of control can be utilized under s. 80(1)(a) even though the prospects for such losses otherwise being deducted from taxable income for future taxation years are less than 100%.