TaxWatch Canada Provides Taxpayers Missing Refunds from Overlooked Allowable Business Investment Losses (ABIL)
TaxWatch Canada LLP was recently established by collaborating tax specialists to help Canadian taxpayers in specialized tax situations such as claiming an Allowable Business Investment Loss or ABIL.
Established to encourage investment in small Canadian businesses, ABILS i.e. losses from the deemed disposition of shares or debt, can be claimed for an investment loss as far back as ten years. The resulting tax refund can be carried back three years (or forward ten years) to offset all other personal or business income sources. An ABIL is 50% of the investment loss. Deemed ...