Designated Immediate Expensing Property - Schedule 8

Sorry to be a broken record - I’m sure this is ruining your summer. I see the new T2S8 has FINALLY been released by the CRA on their website. https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t2sch8.html and it has new columns and column numbers.
The legislation says we have 12 months after the filing deadline to make a DIEP claim. This means that the April 30, 2021 returns that had Eligible Property purchased in the last 12 days of their fiscal year, have until October 31, 2022 to file any amendment claiming this, which would be 5 months before any T5013 and 6 months before any T1 amendment would be due.

So knowing that the T2 should be the top priority for updating - when can we expect the release of the form?

I’m asking so we don’t have to end up with our files in limbo at CRA from amending everything using cell overrides.

Sorry for adding more pressure - but the clients have started pushing on our end. :frowning:

We have been working on this for a while; it is quite complicated as you can appreciate.
We plan to release an interim version that will allow for claiming immediate expensing before the end of August. A subsequent release will include the full implementation of our designed solution.

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