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Becoming a look-through company
A company must make an election if it wants to become a look-through company (LTC). The shareholders of an LTC are liable for income tax on the LTC's profits, while being able to offset the LTC's losses against their other income (subject to a loss limitation rule in some circumstances).
- What is an LTC?
- Accounting for LTC income/losses
- Electing to become an LTC
- Company losses incurred before becoming an LTC
- Transitions from a QC/LAQC to an LTC
How it works