Close

Our Privacy Statement & Cookie Policy

All Thomson Reuters websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.

T2
516 CCA / CEC

Print this pageForward this document  Returns with immediate expensing deductions

Program(s) affected: T2 Document created: 06 02, 2022
Tax year(s): 2022 Document last modified:
Version(s): 25.15, 25.20 Problem status: Pending

Can an eligible corporation claim the immediate expensing provisions?

Until Federal Schedule 8 and Alberta AT1 Schedule 13 form changes and government system changes are implemented, as well as pending the final versions of Quebec new Forms CO-130.AD and TP-130.EN, the government authorities have confirmed that returns with immediate expensing deductions will be accepted.

Corporations may enter their claim for immediate expensing by completing the following steps.

Use the keyword Additions or Additions-AIIP in the CCA-Class group to enter the acquisition amount:

  • Federal - Schedule 8, line 203
  • Alberta - AT1 Schedule 13, line 005
  • Quebec - CO-130.A, line C

Use the keyword CCAClassOV to enter the immediate expensing claimed for the acquisition plus any other CCA claimed for that class:

  • Federal - Schedule 8, line 217
  • Alberta - AT1 Schedule 13, line 019
  • Quebec - CO-130.A, line J

RQ has indicated that corporations must attach the details of the overridden CCA claim so that RQ can process the return more quickly.

In addition, CRA has notified us that adjustment requests to recognize immediate expensing cannot be processed until after Royal Assent has been received.