Which of the following is NOT a restriction that applies to the use of non-capital losses after an acquisition of control?

Question

Quizplus · Accepted Answer

Restrictions that apply to the use of non-capital losses after an acquisition of control include: the corporation must continue to carry on the business in which the loss occurred, there must be a reasonable expectation of profit in that business, and the losses can only be applied against future income generated by the same or a similar business. Option C is incorrect as the losses cannot be applied in any shortened year ends that occur as a result of the acquisition of control.

Which of the Following Is NOT a Restriction That Applies