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Financial Information 		  Self-employment Losses  

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Self-employment losses can be carried back 3 years, and can be used to offset other income.

If you are self employed and had a loss for tax purposes in your latest tax year, but had no other income against which to offset this loss, you can carry back this non-capital loss to any of the prior 3 taxation years.  To do this, you have to file a form T1A, "request for loss carryback".  See the article on changing your tax return.  For carry-forward periods, see the Glossary item on non-capital losses.

Revised: July 19, 2010

 

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