6 April 1993 T.I. (Tax Window), No. 30, p. 7, ¶2489)

Where a non-capital loss in a preceding year has been reinstated as the result of the carryback to that year of a net capital loss, the taxpayer will be required to comply with s. 152(6) in order to carry back the reinstated non-capital loss to a year preceding the loss application year.

RC will accept late-filed elections provided a reassessment can be made within six years from the date of mailing of the notice of original assessment or of notification that no tax was payable for the taxation year.