No, they can't. The legislation provides that the rule only applies if there's a gain. There's a specific rule that says that no loss can be deducted as a result of this rule.
On November 21st, 2022. See this statement in context.
On November 21st, 2022. See this statement in context.
November 21st, 2022 / 4:35 p.m.
Director General, Legislation, Tax Legislation Division, Tax Policy Branch, Department of Finance
No, they can't. The legislation provides that the rule only applies if there's a gain. There's a specific rule that says that no loss can be deducted as a result of this rule.
See context to find out what was said next.