Form T2067 Election Not to Be a Public Corporation in Canada is used by certain organizations to elect not to be considered a public corporation for tax purposes. By filing this form, these organizations may be eligible for certain tax benefits and exemptions.
The form T2067 Election Not to Be a Public Corporation in Canada is typically filed by corporations that want to elect not to be treated as public corporations for Canadian income tax purposes.
Q: What is Form T2067?
A: Form T2067 is a tax form used in Canada.
Q: What does Form T2067 allow?
A: Form T2067 allows a corporation to declare that it does not want to be considered a public corporation.
Q: What is a public corporation?
A: A public corporation is a corporation that has shares traded on a stock exchange.
Q: Why would a corporation choose not to be a public corporation?
A: Corporations may choose not to be a public corporation to avoid certain reporting and compliance requirements.
Q: How does a corporation file Form T2067?
A: Corporations can file Form T2067 with the Canada Revenue Agency.
Q: Are there any eligibility requirements to file Form T2067?
A: Yes, there are certain eligibility requirements that must be met to file Form T2067.
Q: Is there a deadline to file Form T2067?
A: Yes, the deadline to file Form T2067 is typically within six months after the end of the corporation's fiscal year.
Q: What happens if a corporation fails to file Form T2067?
A: If a corporation fails to file Form T2067, it may be deemed a public corporation by default.
Q: Can a corporation change its status from a public corporation to not being a public corporation?
A: Yes, a corporation can file Form T2067 to make this change if it meets the eligibility requirements.