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I have a client with a floating year-end. Here are the facts.
Previous year-end Dec 30, 2007
Current year-end Jan 3, 2009
T2 for Ontario should be combined for Year-ends in 2009.
CRA is advising that we need to file a 2008 CT23.
Has anyone run into this problem? If so, how have you handled it.
Thanks
Tony
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T2 Floating Year-end T2 Floating Year-end
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#2
Gordon Wiber 
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Posted 19 March 2009 - 01:03 AM
Thinking the CRA is relying on Section 249(3) deeming a December 31, 2008 year end.
#3
Lee@Intuit
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Posted 19 March 2009 - 10:56 PM
Hello Tony,
For those corporations which are subject to a deemed year-end of Dec 31, 2008, as Gordon astutely pointed out, you will have to file a CT23 return.
This is currently not supported in the ProFile T2 software but we are adding the functionality for these scenarios. I don't have a release timeframe which I can give you at the moment; however, I will make sure to follow-up here when we arrive at a release estimate. I can say that, barring some bizarre technical calamity we don't foresee at the moment (asteroid collision with Earth or the like), that you will not be waiting around for 6 months for this to appear. We know it is important for you to have. Please stay tuned.
Lee McKenzie,
Intuit
For those corporations which are subject to a deemed year-end of Dec 31, 2008, as Gordon astutely pointed out, you will have to file a CT23 return.
This is currently not supported in the ProFile T2 software but we are adding the functionality for these scenarios. I don't have a release timeframe which I can give you at the moment; however, I will make sure to follow-up here when we arrive at a release estimate. I can say that, barring some bizarre technical calamity we don't foresee at the moment (asteroid collision with Earth or the like), that you will not be waiting around for 6 months for this to appear. We know it is important for you to have. Please stay tuned.
Lee McKenzie,
Intuit
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