In print: Toward a new system for the taxation of corporate groups in Canada: Has the time (finally) come?

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After almost 25 years, the federal government—with its announcement in the 2010 federal budget and the release of a consultation paper in November 2010—has reignited the debate over whether Canada should introduce a more formal system of group reporting in Canada, such as a loss transfer or consolidation system, to improve the functioning of the corporate tax system. This paper examines the history of taxation of corporate groups in Canada and reviews the benefits and shortcomings of the current approaches to loss utilization.