Ordinary capital losses A capital loss occurs when the capital gain calculation produces a negative amount. This amount can be offset against taxable capital gains and can be carried back and applied against taxable capital gains of any of the previous three years, subject to whether the capital gains exemption was used in that prior year. They also can be carried forward indefinitely; this balance is known as "net capital losses" and can be applied against taxable capital gains in any future year.         AGENT    NEWSLETTERS    GIC/RSP RATES    TOOLS    TAX TIPS    CLIENT AREA    Mutual Funds Provided Through Worldsource Financial Management Inc. All additional services provided through Future Financial / Term-Mart © Copyright, 2004, Future Financial Planning Group