Definitions and list of eligible elections

Definitions 

Late election

The election was not filed by the required due date, and you now want to file the election to take advantage of the alternative tax treatment.

Amended election

The original election was filed on time, but you now want to modify or change your original election.

Revoked election

The original election was filed on time but you now want to cancel your original election.

List of eligible elections

A request to have a late or amended election accepted, or to revoke an election, is limited to the elective provisions of the Income Tax Act and Regulations listed in section 600 of the Regulations.

For the complete list and details of the eligible elections, please see List of prescribed elections in Appendix A of Information Circular IC07-1R1, Taxpayer Relief Provisions.

For the list of designations and allocations that are considered prescribed elections, please see Deemed Prescribed Elections at paragraph 55 of Information Circular IC07-1R1.

Related topics

• Cancel or waive penalties or interest
• Late, amended, or revoked elections
• Refund or reduce the amount payable beyond the normal three-year period