Loss Carry-Forward Periods 

Currently, non-capital losses can be carried back 3 years and forward 7 years to offset income in those prior or subsequent years. The 2004 budget

proposed to extend the non-capital loss carry-forward period from 7 years to 10 years. Previously, only farming businesses had the ability to carry-forward non-capital losses 10 years. This measure applies to losses that arise in taxation years that end after March 22, 2004.