In an ITA 87 amalgamation, losses carried forward from the amalgamating companies cannot be used by the amalgamated company until the first taxation year beginning subsequent to the amalgamation.

Question

Quizplus · Accepted Answer

Under ITA 87, losses carried forward from the amalgamating companies can generally be used by the amalgamated company, but specific rules and limitations apply depending on the nature of the losses and the details of the amalgamation.

In an ITA 87 Amalgamation, Losses Carried Forward from the Amalgamating