On December 16, 2011, the Minister of Finance announced the Government’s intention to extend the time to file an alignment election for corporate partnerships under the corporate partnership deferral rules.

The Government intends to recommend a change that treats late alignment elections as having been filed on time if the election is filed on or before January 31, 2012. Prior to this change, some corporate partnerships would have had to file the election by September 23, 2011.

Read the full announcement here.

For further information, please contact your local MNP Tax Advisor.

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