T2029 waiver form – Canadian Film or Video Production Tax Credit (CPTC)
A Part B application for a certificate of completion must be received by CAVCO no later than 24 months from the first taxation year end date following the commencement of principal photography of the production. Where the 24-month deadline cannot be met, the application deadline may be extended to 42 months from the first taxation year end date if the applicant has filed two valid waivers with the Canada Revenue Agency (CRA).
What are waivers and how are they relevant to a CPTC certification application?
A T2029 waiver form is used to authorize the CRA to reassess a given taxation year beyond the normal reassessment periodFootnote 1. This authorization must be given to extend the deadline to apply for a Part B CPTC certificate to ensure the relevant taxation years can still be reassessed if necessary. Without this authorization, a Part B application submitted after the 24-month deadline will be denied and the previously issued Part A certificate will be revoked. A Part A/B application submitted after the 24-month deadline also requires the submission of valid waivers to the CRA.
This requirement is found in paragraph (b) of the definition of “application for a certificate of completion” in subsection 1106 (1) of the Income Tax Regulations. The only time a T2029 waiver form is not required to extend the Part B application deadline is when the taxation year in question has not been assessed by the CRA (because it is not possible to file valid waivers in this case). There are no other exceptions.
Filing valid waivers
To extend the 24-month deadline, download a copy of the T2029 Waiver in respect of the normal reassessment period or extended reassessment period, and follow the instructions below. A completed sample T2029 waiver form is available for reference.
- Sample Form (PDF format, 1,100 KB)
Completed T2029 waiver forms must be submitted to the CRA by the end of the normal reassessment period for both the first and second taxation years ending after the production's principal photography began, and before the 42-month CPTC application deadline. As noted above, a waiver should not be filed for a taxation year if that year has not yet been assessed by the CRA (i.e., CRA has not issued a Notice of Assessment for that year).
Please make note of the following when completing each T2029 waiver form:
- a notice of an original assessment or a notification that no tax is payable must have been issued to the corporation for the tax year indicated on the form;
- the business number (BN) provided must be valid;
- the corporation name and address, and the tax year end must correspond with the records of the CRA;
- the matter(s) being waived must be specified, i.e.: "… in respect of: the Canadian Film or Video Production Tax Credit (section 125.4 of the Income Tax Act) for the following production(s):
- Title(s): (enter title)
- CAVCO's case file (CF) reference number(s): (enter number(s) assigned by CAVCO to the production(s))";
- a separate T2029 waiver form must be filed for each taxation year end;
- the form must be in respect of the normal reassessment period provided under subparagraph 152(4)(a)(ii) of the Income Tax Act (i.e. the first box within the "Waiver" section of the form must be checked); and
- the signature of a legal representative or authorized officer must be provided.
Submit two completed T2029 waiver forms (i.e. one form for each of the first and second taxation years ending after the production's principal photography began) either through the CRA’s secure portal “My Business Account (MyBA)”, by either fax or mail.
- MyBA (most secure and efficient option):
- If you are registered with the CRA's My Business Account (MyBA) portal, you can send your T2029 waiver forms electronically using the Submit Documents option. Sign in to MyBA and select the “I do not have a case or reference number” link followed by the “Film and Media Tax Credits (FMTC)” option from the picklist. Then select the “T2029 waiver forms for late-filed Part B applications at CAVCO” task to upload your T2029 waiver forms.
- Canada Revenue Agency
Film and Media Tax Credits Section
875 Heron Road
Ottawa, ON K1A 0L9
For more information on application deadlines under the CPTC, see section 1.09 of CAVCO’s CPTC Guidelines.
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