T2
516 CCA / CEC
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:
Use the keyword CCAClassOV to enter the immediate expensing claimed for the acquisition plus any other CCA claimed for that class:
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. |