Preparing CAIS returns

I - CAIS identification and participant profile information (keyword CAIS)

1. By default, DT Max designates the tax professional as the contact person. If this is not the case, enter the contact's name and address with the keyword Contact-Name.

2. If the contact has changed since last year, indicate it with the keyword NEW-CONTACT.

3. Specify whether you are applying for an account, maintaining an account or closing an account with the keyword CAIS-ACCT.

4. Specify other relevant information for the participant with the keyword Participant.

5. Enter the province of main farmstead with the keyword Farmstead.

6. Enter the first year of farming operations with the keyword Farm-Opening.

7. Enter the total area cultivated, owned or rented with the keyword FARM-AREA .

8. Enter the method of accounting for CAIS with the keyword Meth-Account.

II - Farming income & expenses

1. Enter farming income and expenses derived from commodities with the keyword Commodity, by selecting the CAIS code number of the commodity.

2. Enter the related data pertaining to each commodity with the following keywords:

           commodity sales                    Sales.n
           commodity purchases             Purchases
   

3. Each COMMODITY entered heads a separate sub-group in the CAIS group. All of the data pertaining to a commodity is kept together in the Commodity sub-group. You may have multiple entries for Sales.n and Purchases, but only one entry is allowed for each Commodity.

   All commodities entered will be listed on the CAIS statement, without limitation. DT Max automatically determines whether the commodity is qualifying or non qualifying based on the province of main farmstead.

4. Program payments are entered with the keyword Program-Pymt by selecting the CAIS code number of the program.

5. Repayments of program benefits should be entered as a negative amount with the keyword Program-Pymt.

6. Enter other farming income with the keyword Oth-Farm-Inc. Such amounts will be recorded on the CAIS statement as Other farming income.

7. Farming expenses are classified as eligible expenses and non eligible expenses on the CAIS statement. Enter the eligible expenses for CAIS purposes using the keyword Farm-Expense, and the non eligible expenses for CAIS purposes using the keyword Oth-Farm-Exp. These expenses will be recorded on the appropriate section of the CAIS statement.

III - Other account information

Partnership information is obtained from the data provided with PARTNER-INFO.