Two unrelated companies, one of which has both non-capital and net capital losses to carry forward, are amalgamated on January 1, 2015. The resulting new company is Parent Inc. All three companies have a December 31 year end. After amalgamation, the shareholders of the company with losses own 10% of Parent Inc. and the shareholders of the other company own 90%. During the year ended December 31, 2015, Parent Inc. has Net Income for Tax Purposes which includes a taxable capital gain. Parent Inc. continues to carry on the businesses of both amalgamated corporations. Which of the following statements best describes the situation of Parent Inc. with respect to the deduction of the losses incurred prior to amalgamation?

		All losses carried forward from the predecessor companies will be deductible to Parent Inc. as soon as the amalgamation is completed.
		Parent Inc. will not be able to carry any of the losses forward and use them against income of the amalgamated company.
		Parent Inc. will be able to utilize the non-capital loss against profits from the same business in which the loss was incurred beginning in the 2015 taxation year. The net capital losses cannot be utilized by Parent Inc.
		Parent Inc. will be able to utilize the non-capital loss against profits from the same business in which the loss was incurred beginning in the 2016 taxation year. The net capital losses cannot be utilized by Parent Inc.