Hi there,
Before being dissolved, the corporation was a CCPC and had a typical year-end of October 31. The date of dissolution is July 1, 2024, which is what I entered in line 061 “Tax year-end” on the Final T2. Do I also need to answer Yes in field 066 “Is the date on line 061 a deemed tax year-end according to subsection 249(3.1)”?
I can’t figure out if this subsection applies to dissolution. Would appreciate your advice. TIA!
Is this company ceasing to be a CCPC or is it just a CCPC being wound-up? If it’s a normal CCPC being wound-up, the answer to that question (line 066) would be “no”. A status change happens when, for example, a private CCPC becomes a public company.
There is another question on the T2 about whether this is the final return before dissolution (line 078). You would answer “Yes” to that question if you’re doing the T2 up to the date of dissolution.
Thanks @kevin ! This is a normal CCPC dissolution, so I will just answer No. Really appreciate your response.