Can$$t Catch a Break Co$.($Break Co$)$ has non$-$capital losses of $$300,000$ from business operations and net capital losses of $$100,000.$ On July $1$ of the current year Break Co was acquired by an arm$$s length

person. At the time of acquisition Break Co owned a piece of land with an ACB of $$500,000$ and a current FMV of $$570,000.$ Break Co also owned machinery with UCC $($tax NBV$)$ of $$200,000$ and FMV of

$$150,000.$

$$ Determine the tax implications for Break Co and the available losses the acquirer can use.