The latest DT Max program update is now available for downloading. It features the fully functional T1/TP-1 program for tax years 1999 to 2010, the T2 program for fiscal periods ending from 1994 to 2011, as well as the fully functional T3/TP-646 program for tax years 2003 to 2011, and fully supports T1/TP-1 Efile and Corporation Internet Filing (T2 and CO-17). Installing this version will update your version of DT Max to 14.20. Please note that all program versions are always made available on the Internet. In this version...
2. Revenu Québec's two distinct request forms for direct deposit 3. New options for T4A slip 4. Three new client letter variables 5. Modified forms DT Max T11. Known issues fixed in version 14.20
GRADUATED-CF keyword with respect to the Nova Scotia graduate retention rebate T4 Box 66 - Eligible retiring allowances transferred to an RRSP T4A slip Box 135 vs. calculation of medical expenses 2. Revenu Québec's two distinct request forms for direct depositRevenu Québec has implemented two distinct direct deposit request forms in order to forward the direct deposit request to the appropriate Revenu Québec processing department. These forms are:
b) LM-3.Q for Quebec City. For instance, if your client's postal code starts with the letter "H" or "J", then the direct deposit request form that should be completed is LM-3.M. However, if your client's postal code begins with "G", then the LM-3.Q should be completed. DT Max will automatically complete the correct form depending on the postal code you've indicated in the sub-keyword PostalCode for the Street keyword group. 3. New options for T4A slipWe have added the following options to the Other-Income keyword in the T-Slip keyword group, when the "T4A/RL-1, 2" option is selected: "[028] F130 Other income [RZ]", "[154] F130 Cash award or prize from payer [RZ]" and "[156] F104 Bankruptcy settlement [RZ]". We have also added the option "[105] F130 Post-doctoral fellowships [RB]" for box 105 of the T4A relating to post-doctoral fellowships that are reported on line 130 of the federal return at 100%. These options were added to ensure that the tax preparer's entries mirror exactly what may be reported on an ordinary T4A slip. 4. Three new client letter variablesFurther to our clients' suggestions, we have added the following three variables to the client letter:
- %402 - relates to line 20 of the estimate for the Saskatchewan Low-Income Tax Credit - %403 - relates to line 20 of the estimate for the BC Low Income Climate Action Tax Credit 5. Modified formsThe following forms, mentioned in our previous "What's New", are now final and are no longer considered to be under review:
b) TPZ-1029.MD.8-V - Application for Advance Payments for Services Included in Condominium Fees c) TPZ-1029.MD.9-V - Application for Advance Payments for Occasional Services DT Max T21. Program certificationFederal This new version of DT Max T2 has undergone an authorization process with the CRA for the paper version (including the bar code return) of Form T3010-1, Registered Charity Information Return (previously T3010B), and has been approved under authorization number 11104. Quebec Version 14.20 has also undergone an authorization process with Revenu Québec for the paper version of new Form TP-985.22, Information Return for Registered Charities and Other Donees, and has been approved under authorization number RQRM-1001. Manitoba Version 14.20 has also received certification for the Manitoba corporation capital tax return, form MCT 1. 2. Changes affecting CCA classesa) New CCA class 41.1
b) Class 53 deleted
3. New formsFederal: - Schedule 429 - British Columbia Interactive Digital Media Tax Credit Quebec: - TP-985.22 (supplement) - Information Return for Registered Charities and Other Donees 4. Modified formsFederal: - Schedule 4 - Corporation Loss Continuity and Application - Schedule 5 - Tax Calculation Supplementary - Corporations - Schedule 6 - Summary of Dispositions of Capital Property - Schedule 366 - New Brunswick Corporation Tax Calculation - T183 - Information Return for Electronic Filing of an Individual's Income Tax and Benefit Return - T1044 - Non-Profit Organization (NPO) Information Return - T3010-1 - Registered Charity Information Return - T1275 - AgriStability and AgriInvest Programs Additional Information and Adjustment Request (N.B.: No calculation support is provided for this form) - AgriStability/Agri Investment - 2010 Statement A, Corporation/Co-operatives - AgriStability/Agri Investment - Harmonized 2010 Statement A, Corporation/Co-operatives and Special Individuals - Worksheet 2 - Calculating monthly instalment payments - Worksheet 3 - Calculating quarterly instalment payments - Worksheet 1 - Calculating estimated tax payable and tax credits Quebec: - CO-17S.39 - Quebec Non-Business Foreign Tax Credit (in-house form) - CO-17S.232 - Summary of Disposition of Capital Property (in-house form) - CO-737.18.18 - Exemption for Small and Medium-Sized Manufacturing Businesses in Remote Resource Regions - CO-1029.8.36.DF - Crédit d'impôt pour le doublage de films (Tax Credit for Film Dubbing - available in French only) - CO-1029.8.36.IC - Election for the Tax Credit for Investment - CO-1029.8.36.EM - Tax Credit Relating to Resources - CO-1029.8.36.FM - Tax Credit for Francization or for Training in the Manufacturing, Forestry and Mining Sectors - CO-1029.8.36.RP - Entente concernant le montant de base pour l'aide accordée dans les régions ressources (Agreement Respecting the Basic Amount for the Assistance Granted in Resource Regions - available in French only) - CO-1029.8.36.RX - Agreement Respecting the Tax Credit for Job Creation in a Designated Region - CO-1029.8.36.SP - Tax Credit for Film Production Services - CO-1136 - Calculation of Paid-Up Capital - CO-1136.CS - Paid-Up Capital for Purposes of Calculating the Income Tax of Certain Corporations - CO-1140 - Calculation of the Paid-Up Capital of a Financial Institution - CO-1140.A - Paid-Up Capital to Be Used for Purposes Other than the Calculation of Tax on Capital - CO-1167 - Insurance Corporation - Calculation of premiums payable, taxable premiums, and tax on capital respecting marine insurance - CO-1175.4 - Life Insurance Corporation - Calculation of the tax on capital - RD-1029.8.9.03 - Tax Credit for Fees and Dues Paid to a Research Consortium - TP-985.22 - Information Return for Registered Charities and Other Donees - TP-985.22 (supplement) - Part 6.10 - Name and registration number of associated charity - TP-1029.8.36.EC - Tax Credit for the Acquisition or Lease of a New Energy-Efficient Vehicle Manitoba: - MCT1 - Corporation Capital Tax Return 5. Deleted formsFederal: - T1259 - Capital Gains and Disbursement Quota Worksheet Quebec: - CO-17S.4 (supplement) - Capital Losses of Predecessor Corporations 6. New keywordsa) In the Cred-Film keyword group, pertaining to Quebec form CO-1029.8.36.DF (Tax Credit for Film Dubbing): CertificateNo : SODEC certificate number Use the keyword CertificateNo to enter the certificate number of the Société de développement des entreprises culturelles (SODEC) for the film dubbing for which the corporation is claiming the tax credit. b) In the CCA-Class keyword group, pertaining to federal Schedule 8 (Capital Cost Allowance (CCA)), Quebec form CO-130.A (Capital Cost Allowance), and Alberta AT1 Schedule 13 (Alberta Capital Cost Allowance (CCA)): Mine-Income : Income for the year from the mine Use the keyword Mine-Income to enter the income for the year from the mine before making any deduction under paragraph (x), (y), (y.1), (ya) or (ya.1), section 65, 66, 66.1, 66.2 or 66.7 of the Act or section 29 of the Income Tax Application Rules. c) In the Digital-Media keyword group, pertaining to federal Schedule 429 (British Columbia Interactive Digital Media Tax Credit): Regist-Num : Registration number for BCIDMTC credit If the corporation applied to the British Columbia Ministry of Finance for a registered number for the purposes of claiming a British Columbia interactive digital media tax credit, use the keyword Regist-Num to enter the registration number. d) In the CorpHistory keyword group, pertaining to federal Schedule 53 (General Rate Income Pool (GRIP) Calculation): Gen-Rate-Factor : General rate factor for the previous tax year Gen-Rate-Factor is the general rate factor for the year of reference (referred to in CorpHistory). This rate is used in the calculation of GRIP adjustment for specified future tax consequences in previous tax years on Schedule 53. DT Max will automatically carry forward the current tax year's general rate factor into CorpHistory (1st prior year). 7. Deleted keywordsa) In the CharityReturn keyword group, pertaining to Quebec form TP-985.22 (Information Return for Registered Charities and Other Donees): i) AMOUNT-RED : Amount of capital gains reduction claimed ii) CAPGAIN-RED : Whether the charity is claiming a capital gains reduction b) In the Resource-Tax-Cr keyword group : DATE-INCURRED : Date the eligible expenses were incurred and paid 8. New optionsa) For keyword ForInvCF , pertaining to Quebec form CO-17S.39 (Quebec Non-Business Foreign Tax Credit):
9th prior year... (until) 20th prior year b) For keyword Assets.c , pertaining to federal form T3010-1 (Registered Charity Information Return): 10 year gifts c) For keyword Revenue.c , pertaining to federal form T3010-1 (Registered Charity Information Return): 10 year gifts received d) For keyword Region-Code , pertaining to Quebec form CO-1029.8.36.IN (Tax Credit for Investment):
Centre-du-Québec (invest. after Dec. 9, 2009) Chaudière-Appalaches (invest. after Dec. 9, 2009) Estrie (invest. after Dec. 9, 2009) Lanaudière (invest. after Dec. 9, 2009) Laurentians (invest. after Dec. 9, 2009) Laval (invest. after Dec. 9, 2009) Montérégie (invest. after Dec. 9, 2009) Montreal (invest. after Dec. 9, 2009) Outaouais (invest. after Dec. 9, 2009) e) For keyword ProvCreditOV , pertaining to federal Schedule 5 (Tax Calculation Supplementary - Corporations): Cooperative development tax cr. - Man. f) For keyword Cred-Film , pertaining to Quebec form CO-1029.8.36.DF (Tax Credit for Film Dubbing - available in French only): QC film dubbing (after March 30, 2010) Choose this option if you wish to file Quebec form CO-1029.8.36.DF (Tax credit for film dubbing) when the request for a certificate has been presented to the SODEC after March 30, 2010. g) For keyword Assistance , pertaining to Quebec form CO-1029.8.36.DF (Tax Credit for Film Dubbing - available in French only):
Preparation of texts - salaries Production of video titles - salaries Audition - consideration Preparation of texts - consideration Production of video titles - consideration h) For keywords Salaries&Wages and Consid-Paid , pertaining to Quebec form CO-1029.8.36.DF (Tax Credit for Film Dubbing - available in French only):
Preparation of texts Production of video titles i) For new keyword OtherInfo , pertaining to federal form T3010-1 (Registered Charity Information Return): Property not used in charitable programs For this option, enter the value of all property (including investments, rental properties) not used in charitable programs. j) For keyword Amount-Gifts , pertaining to federal form T3010-1 (Registered Charity Information Return): Amount of designated gifts k) For keyword Digital-Media , pertaining to federal Schedule 429 (British Columbia Interactive Digital Media Tax Credit): British Columbia digital media tax credit Choose this option if you wish to file federal schedule 429 (British Columbia interactive digital media tax credit). l) For keyword Eligible-Exp , pertaining to federal Schedule 429 (British Columbia Interactive Digital Media Tax Credit): Eligible salary and wages 9. Deleted optionsa) From keyword OtherInfo :
Capital gains pool - opening balance b) From keyword Prev-Yr-Info.c :
Tax-receipted enduring property Amounts received from other charities Specified gifts received Enduring property received Tax-receipted gifts (excl. enduring prop.) c) From keyword Revenue.c :
Enduring property from other charities d) From keyword Expenditures.c :
Accumulated property (TP-985.22) Enduring property spent (TP-985.22) e) From keyword Qc-OtherInfo : Cap. gain from disp. of enduring property DT Max T31. Known issues fixed in version 14.20The following issues have been corrected in version 14.20: a) For invoices: The GST, PST AND HST were not being calculated on the invoices for provinces outside Quebec. b) For the TP-646: Box 20 was being ticked, even though the option "Payment of income not required by will" was entered with the keyword Trust-Info . c) For keyword StatusChange : The program was erroneously entering the Prev-YearEnd date as the beginning date of the trust. d) When Part XIII non-resident tax was entered in the data entry section for the trust, a partially blank NR4 slip (government copy) was created. Version 14.20 now corrects the government copy of the NR4 slip so that all information is entered on a single slip. 2. Tax changes: updated options for AgriStability and AgriInvestWe have updated Forms T1163 and T1273 and the corresponding options relating to their keyword entries to reflect the descriptions mentioned in the CRA Guide RC4060(E) "Farming Income and the AgriStability and AgriInvest Programs Guide". Modified formFederal - T1163 - Statement A - AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals - T1172 - Additional Tax on Accumulated Income Payments from RESPs - T1175 - 2010 Farming - Calculation of Capital Cost Allowance (CCA) and Business-use-of-home Expenses - T1273 - Statement A - Harmonized AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals In-house form - Assembly instructions |
