The taxation of solvent individuals in Canada is already very complex (the Practitioner’s Income Tax Act 2010 weighs in with “approximately 2600 pages”); add a bankruptcy to the mix and an additional 170+ page guide is necessary.
Follow this link for the latest Canada Revenue guide to the effects of bankruptcy on personal taxation, entitled, with the opacity unique to government authorities, ”Business Rules of Bankruptcy“.
The treatment of losses begins at page 120 (page 125 of the pdf).
