Canadian Form T2057

2025 Printable Template

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Form last updated: 03/2024. Please verify this is the current version before use.

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What is a T2057 used for?

Form T2057 is used by taxpayers to elect under subsection 85(1) of the Income Tax Act to transfer property to a taxable Canadian corporation on a tax-deferred basis. This form helps document the transaction and ensures compliance with Canadian tax laws.

Who needs to fill out a T2057 form

Taxpayers transferring property to a taxable Canadian corporation under subsection 85(1) of the Income Tax Act.

How to fill out a T2057 online?

Follow these steps to complete your T2057 form online.

Step 1
Step 1
Access the form through the PDF editor or download it from the Canada Revenue Agency website.
Step 2
Step 2
Complete Part 1 with the personal information of the transferor and transferee.
Step 3
Step 3
List the properties being transferred in Part 2 along with the consideration received.
Step 4
Step 4
Provide the date of transfer for each property.
Step 5
Step 5
Enter the fair market value and elected amounts for the properties.
Step 6
Step 6
Ensure all required fields are completed and the form is signed.
Canada Revenue Agency - Form T2057

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Frequently Asked Questions

Find quick answers to common questions about our PDF editor.

It is used to elect the transfer of property to a taxable Canadian corporation under subsection 85(1) of the Income Tax Act, allowing for a tax-deferred transfer.

The form is due by the earliest date any party must file their income tax return for the year of the transfer.

Yes, a separate Form T2057 must be filed for each property transferred on different dates.

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