Course: All About ABILS... and Other Losses

All About ABILs… and Other Losses

This three hour course mainly discusses Allowable Business Investment Losses (“ABILs”), one of the most heavily audited and litigated areas of tax. The seminar will guide you through the complex decision tree to determine when your client has an ABIL, will provide practical tips for surviving a CRA ABIL audit, and will examine recent developments in CRA ABIL interpretations and cases. The seminar will also discuss some of the more general traps that may arise when claiming a loss, such as the stop-loss rules under subsections 112(3) and 40(3.6) and suspended loss rule under subsection 40(3.4).

TOPICS

  • When do you have an ABIL?

  • Protecting your ABIL

  • Tips to survive a CRA audit

  • Recent developments in ABILs

  • Stop Loss Rules:

    • 112(3)

    • 40(3.6)

    • 40(3.4)