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Dec 07, 2023 11:56 pm
Is there a penalty involved if election 45(2) is filed late after four years?
1 Reply
Dec 12, 2023 3:16 pm
Hi Sammad,
The 45(2) election must be filed for the year in which the change in use of the property occurs. My understanding is that the CRA will not accept a 45(2) election that is filed past the due date.