|
T3
120 Running DT Max
  Incorrect calculation of the Ontario surtax on line 27, line 43 and line 44 of the T3ON form |
| Program(s) affected: |
T3 |
 |
Document created: |
03 09, 2022 |
| Tax year(s): |
2021 |
Document last modified: |
|
| Version(s): |
25.05, 25.11 |
Problem status: |
Fixed in v25.13 |
|
Why is DT Max T3 incorrectly calculating the Ontario surtax for GRE and QDT trusts?
For GRE or QDT, DT Max T3 is incorrectly applying the 2020 rates to calculate the 2021 Ontario surtax on line 27 and in Chart 2, Ontario additional tax for minimum tax purposes on the T3ON form. This results in an underpayment of $8.80 for the first surtax rate and an additional underpayment of $19.80 if the second surtax applies
As a workaround, override form T3ON Field 21 to the correct amount based on the following calculation: (Line 24 minus $4,874) x 20%. If Chart 2 - Ontario additional tax for minimum tax purposes applies, the same override must be entered for Field 216.
Similarly, if the second surtax rate applies, override Field 22 to the correct amount based on the following calculation, (Line 24 minus $6,237) x 36%, as well as Field 217 for Chart 2.
|