Just about to file my first online SERS election and need some clarity in how to do this with TaxCycle:
Corp year end was Jun 30 and is now assessed. Dividend is to be paid in December and will eat up the entire CDA.
So, if I understand the process correctly:
use the current year file, unlock it and use the T2054 “Next Year” worksheet
complete the S89
Add both to the SERS form
print and get back signed copies of the T2183s and the Dividend Reso
attache the Dividend Reso to the Sers Support page
file via Efile
Do I have that right?
And a question: the T2054 Next Year T2183 actually puts the dates for the LAST year (ie 2023-24) on the file…given that this is filed in advance, should that not be 24-25? (The S89 as it certifies the CDA as at 2024/06/30.)
Yes, that is correct except you will need to first file the forms (once you have the signed T2183 forms). Then you can attach the Director’s Resolution on the SERsSupport worksheet and file that (documents are sent in a separate transmission and require a filed confirmation number for the related form(s)).
Also, the attached documents must be sent within 24 hours of the electronic transmission of the forms otherwise they need to be submitted through Represent a Client within 7 days.
The tax year appears to be calculating incorrectly for the T2054NextYearT2183 form. Go ahead and override the dates to indicate the correct tax year for the Capital Dividend. I will enter a bug to get that fixed.
Additional help for SERs in T2 can be found on our website: