T2054 - Election for a Capital Dividend Under Subsection 83(2)

Private corporations can use this form to elect to have the provisions of subsection 83(2) apply to a dividend. For more information, see Interpretation Bulletins IT-66, Capital Dividends, and IT-149, Winding-up Dividend.

File one completed copy of this election with your tax services office:

1. on or before the earlier of:
2. 1. the day the dividend becomes payable; and
   2. the first day on which any part of the dividend was paid;
3. separate from any tax returns. You can put the election in the same envelope with a return, but do not insert it in or attach it to the return.