Business loss carry-forward exceptions permit indefinite or extended set-off for specified losses, depreciation, amalgamations, successions, and re-established businesses.

Carry-forward of business losses is generally limited to eight assessment years, subject to exceptions. Specified business losses and unabsorbed depreciation may be carried forward without time limit. Losses of a discontinued business may be set off against chargeable income arising from that business. Extended carry-forward is available for specified amalgamations and qualifying business successions. Where a discontinued business is re-established within the permitted period, its losses may be set off against business profits, with the balance carried forward for the following seven assessment years.

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