Any way to bring capital losses to Canada from overseas?

[canadatez]

Hi all,

I understand any capital gains worldwide must be declared in Canada, but how about (carried-forward) capital losses?

My case is from Australia, by the way.

Cheers,

 

[canuck78]

Hi all,

I understand any capital gains worldwide must be declared in Canada, but how about (carried-forward) capital losses?

My case is from Australia, by the way.

Cheers,

No. That wouldn’t make any sense for Canada to do.

 

[steaky]

No. That wouldn’t make any sense for Canada to do.

Incorrect. Capital losses can also be declared and filed in Canadian tax return.

 

[canuck78]

Incorrect. Capital losses can also be declared and filed in Canadian tax return.

We are talking about carried forward capital losses from previous years. Previous losses can’t be transferred from Australia to Canada to offset current profits in Canada.

 

[steaky]

We are talking about carried forward capital losses from previous years. Previous losses can’t be transferred from Australia to Canada to offset current profits in Canada.

No.

We are talking about carried forward capital losses from previous years. Previous losses can be transferred from elsewhere to Canada to offset current and future profits in Canada.