If you renew your licence in the summer or fall, you do not need to activate your new licence until the end of the calendar year. Your licence code for the prior year will continue to allow access to the older modules you purchased indefinitely.
You licence code will also permit preview access to the new T1/TP1 and other modules until near the end of the calendar year. However, you if you need to file a T1 bankruptcy return or a T1 return for a deceased taxpayer for the coming tax year, you will need to activate your licence.
At the beginning of a new calendar year, you must activate your renewed licence to file returns for the coming tax season.