|Summary of Loss Applications|
|Type of Loss||Application rules||Limit to annual deduction|
|Allowable business investment loss (ABIL)||Any unapplied portion of an ABIL incurred in 2006 or future years becomes a non-capital loss that can be carried back three years and forward ten years.
Also, the unapplied portion of this non-capital loss becomes a net capital loss that can be used to reduce taxable capital gains in the tenth year or any year after.
Limited to taxable capital gains in the year
|Net capital loss||Carry back 3 years
Carry forward indefinitely
|Limited to taxable capital gains in the year|
|Non-capital loss||Carry back 3 years
Carry forward 20 years
|Listed personal property (LPP) loss||Carry back 3 years
Carry forward 7 years
|Limited to net gains from LPP in the year|
|Personal-use property (PUP) loss||No loss allowed||Not applicable|