A late tax election is when a taxpayer asks the CRA for permission to make a tax related decision after the normal filing deadline has passed.

In certain circumstances, a taxpayer can choose between:

• using a default set of tax rules (i.e. standard process)
• electing (choosing) an alternative set of rules

These "elections" give taxpayers options and flexibility in handling their financial matters.

The Canada Revenue Agency (CRA) may allow you to modify or cancel elections that have already been filed, or file an election even if you missed the deadline.

Sections

Which tax elections qualify

Eligible elections, time limitation, and the penalty charged for accepted requests

Who can apply

Determine if your situation qualifies to make a request

Get ready to apply

What to consider before you make a request

How to apply

Gather your information and include your penalty payment

After you apply

What happens if your request is approved, what you can do if your request is denied

Related

• IC07-1R1 Taxpayer Relief Provisions