CRA indicates that a partnership of individuals can change with CRA’s permission to a different non-calendar year end

CRA indicated that where a partnership between individuals has timely elected under s. 249.1(4) to have a non-calendar year end, say April 30, and now wishes to change to a September 30 year end for tax and accounting purposes to conform with the September year end of a related group of corporations (i.e., changing to a new non-calendar year end), such change can be made with CRA’s permission - although such application “will generally only be accepted where a serious business reason exists.”

Neal Armstrong. Summary of 20 February 2017 External T.I. 2014-0534341E5 Tr under s. 249.1(4).