TSXV:HLD.UN - Post by User
Post by
harbroon Apr 06, 2005 5:50pm
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Post# 8870965
T5013 - operating losses applied to acb?
T5013 - operating losses applied to acb?
I think not!
I spoke with "Elizabeth" at CCRA last Dec and their opinion was that business losses in a limited partership are just that - NOT a return of capital! Why is their "so called" controller advising unitholders to apply the accumulated T-5013 loss claims against their adjusted cost base?
Operating losses incurred during the normal course of business have nothing to do with capital losses from a tax standpoint according to this lady along with her supervisor at CCRA. This makes a huge difference in the capital loss claim. Man! Hasn't this investment been bad enough without getting erroneous tax advice from them? Has anyone else got a ruling/opinion on this? I've tried to call HLD but the was, and continues to be busy...