Immediate expensing applies to Canadian-controlled private corporations (CCPC) who acquired eligible property on or after April 19, 2021. Returns with December 31, 2021, year ends had a filing deadline of April 30, 2022, but the calculations and forms for claiming immediate expensing only became available in the 2022 T2 module, released after that date. At the time, we recommended filing the T2 return and amending it later. This meant filing the return in a 2021 T2 module.
This help topic provides instructions on how to convert that 2021 T2 file to a 2022 T2 file so you can file a T2 amendment.
If you previously transmitted the return and you have enabled automatic data locking, you must first unlock the file:
To trigger the message to convert a file to a newer module, you must first dismiss all transmissions. To do this:
The conversion message will not appear at the top of forms if it is signed off. However, you can easily find this message again.
The conversion message will appear at the top of forms as long as it is not signed off. (If it does not appear, go back to Step 3 above.)
When you see the message, click the Convert button or link to open the return in the newer module.
Review T2SCH8 and related worksheets, including S8Asset, S8Claim and the Corporate Group Information (CGI) worksheet. See the T2 Immediate Expensing help topic for details.
Make any other necessary changes to the return.
Follow the steps in the Amending a T2, CO-17 or AT1 Return help topic to file the return.