Form T2101 Election for Gains on Shares of a Corporation Becoming Public - Canada

Form T2101 is a Canadian Revenue Agency form also known as the "Form T2101 "election For Gains On Shares Of A Corporation Becoming Public" - Canada" . The latest edition of the form was released in January 1, 2015 and is available for digital filing.

Download a PDF version of the Form T2101 down below or find it on Canadian Revenue Agency Forms website.

FAQ

Q: What is Form T2101?A: Form T2101 is an election form used in Canada to report gains on shares of a corporation becoming public.

Q: Who needs to file Form T2101?A: Individuals who have realized gains on shares of a corporation becoming public in Canada need to file Form T2101.

Q: What is the purpose of Form T2101?A: The purpose of Form T2101 is to elect to include all or part of the capital gains resulting from the disposition of shares in the income for the taxation year in which the shares become public.

Q: When is Form T2101 due?A: Form T2101 is due on or before your filing due date, which is usually April 30th of the following year.

Q: What information do I need to complete Form T2101?A: You will need information about the corporation, details of the shares disposed of, and the amount of the gain realized.

Q: Is there a fee to file Form T2101?A: There is no fee to file Form T2101.

Q: What happens after I file Form T2101?A: After you file Form T2101, the CRA will review your election and determine the tax implications of your capital gains.

Q: Can I cancel or amend my Form T2101?A: Once you have filed Form T2101, you generally cannot cancel or amend the election. However, there are some exceptions in certain circumstances.