# Little known individual tax claim for monies lost investing or loaning to a Can Corp



## Linda40 (Jan 12, 2011)

As a small business owner, who struggled to make ends meet last year (business lost money; thanks to self!), I was ecstatic that I could recoup some of the money I invested into my corporation on my personal salary from the company. I thought I would pass on the information as I had never heard of this claim, and thought someone else may benefit from it too!

Its called the ABIL Tax claim. It stands for: Allowable Business Investment Loss. It is available to anyone that lost money investing in a private Canadian corporation. I’m not a tax expert so I won’t go on about it, but here are some links that may be useful.

I found a video & guide here: 

http://taxwatchcanada.com/services-abil-allowable-business-investment-loss.php

Article:
http://www.theglobeandmail.com/glob...your-abil-ity-to-claim-losses/article1505384/

Blog:

http://blog.taxresource.ca/allowable-business-investment-loss-abil/

There is also some information on the CRA site:
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/217-228/menu-eng.html


Hope that helps!


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