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Print this pageForward this document  What's new for T1/T2/T3/T5013 Internet version 20.30?

The latest DT Max program update is now available for downloading. It features the T1/TP-1 program for the tax years 2006 to 2016 inclusively as well as the 2017 planner, in addition to fully supporting T1/TP1 EFILE.

Version 20.30 also features the T2 program for fiscal periods ending from 2006 to 2017 and fully supports Corporation Internet Filing (T2, CO-17 and AT1).

Also featured is the T3/TP-646 program for tax years ending from 2006 to 2017 inclusively (keeping in mind that the 2017 tax returns for trusts prepared with this version will be using the 2016 tax forms).

Finally, version 20.30 features the fully functional T5013 program for paper and electronic filing of the Partnership Information Return (T5013 forms) for fiscal periods ending in 2017.

Please note that all program versions are made available on the Internet.

In this version...

For all DT Max programs

  1. Implementation of announced tax changes
  2. 2017 Planner Standard Caveat
  3. XP and Vista reminder

For DT Max T1 & T3

  1. New CCA Class 14.1 replacing ECP

DT Max T1

  1. Version highlights
    1. Suggestions from clients implemented in version 20.30
      1. Keywords from the group EPSP-SPECIAL-TAX moved into the T4PS/RL-25 slip group
      2. Calculation of the CPP overpayment when the individual earns both employment and self-employment income
      3. Automatic request of the CRA's Express NOA service for discounted returns
  2. Notes
    1. Deceased or bankrupt taxpayers
    2. Printing prescribed forms for 2017 returns
      1. Quebec
      2. Federal
  3. Deleted forms
  4. New keywords
  5. Revised keywords
  6. Deleted keywords
  7. New options
  8. Revised options
  9. Deleted options

DT Max T2

  1. Program certification
  2. Version highlights
    1. Electronic submission of T106 slip and T1134 supplement
      1. Federal T106 e-submission
      2. Federal T1134
    2. Quebec EFILE: Replacement of Clic Revenu
    3. Schedule 8: Class 41.2 and phase-out of accelerated CCA
    4. Schedule 411: Elimination of the additional deduction for credit unions and decrease of the general corporate tax rate
    5. Schedule 443: Changes affecting the corporate tax rates
    6. Schedule 346: Increase of the Nova Scotia small-business limit
    7. Change affecting the Saskatchewan provincial sales tax (PST)
    8. Changes to form RC59 and introduction of new form RC59X
      1. RC59
      2. RC59X
    9. Revised NAICS codes (IMPORTANT reminder)
    10. Hours and minutes on Schedule 200
  3. New forms
  4. Revised forms
  5. Deleted forms
  6. New keywords
  7. Revised keywords
  8. Deleted keywords
  9. New options
  10. Revised options
  11. Deleted options
  12. Message from the CRA: Consolidation of tax centres

DT Max T3

  1. Program certification
  2. Version highlights
    1. Suggestions from clients that have been added to version 20.30
      1. Keyword TRUST-INFO: More detailed options available
    2. Known issue fixed in version 20.30: Schedule 9
    3. Authorization forms T1013 and MR-69
    4. Ontario Bill 127 (2017, c.8) Stronger, Healthier Ontario Act
    5. Alberta Bill 15, Tax Statutes Amendment Act, 2017
    6. Manitoba budget - April 11, 2017
    7. Saskatchewan budget - March 22, 2017
    8. Yukon budget - April 27, 2017
    9. Processing tax centres for trust returns: New Knowledge Base document
  3. Revised forms
  4. Warning: verifying carry-forward amounts
  5. New diagnostics
    1. Notes and diagnostics
  6. New keywords
  7. New options

DT Max T5013

  1. Revised forms
  2. New options

For all DT Max programs

  1. Implementation of announced tax changes

    Since our last release, the following budgets were announced:

    Alberta - March 16, 2017
    British Columbia - February 21, 2017
    Federal - March 22, 2017
    Manitoba - April 11, 2017
    New Brunswick - February 7, 2017
    Newfoundland and Labrador - April 6, 2017
    Northwest Territories - February 1, 2017
    Nova Scotia - April 27, 2017
    Nunavut - February 22, 2017
    Ontario - April 27, 2017
    Prince Edward Island - April 7, 2017
    Quebec - March 28, 2017
    Saskatchewan - March 22, 2017
    Yukon - April 20, 2017

    At the time of writing, the majority of the above-mentioned budget speeches were tabled in their respective legislatures.

    The 2017 DT Max tax planner takes into consideration the basic tax changes announced in each budget, allowing you for more effective planning opportunities, as well as the ability to perform cost projection calculations.

    Please refer to these topics from our Knowledge Base for a detailed review of the tax changes implemented:

  2. 2017 Planner Standard Caveat

    We would like to remind our users that the planner is equipped with the most recent information available at the time of our production process.

    This information includes the 2017 tax rates and the 2017 non-refundable tax credits and tax brackets indexed to reflect the 2017 amounts.

    In some cases, instead of an indexation factor, we have implemented the amounts prescribed by the taxing jurisdiction depending on the availability of the information.

    However, please note that due to various factors beyond our control, certain new tax measures are not included in our planner version. Should you require a precise projection (rather than an estimate) of your client's 2017 tax liability, we strongly suggest that you review our planner's results with care.

  3. XP and Vista reminder

    Don't let your business rely on an operating system that is no longer supported by Microsoft. If you have not upgraded to Windows 7 or higher, the security of your valuable data is at risk. And remember, since version 19.30 we no longer support using DT Max on Windows XP or Vista.

For DT Max T1 & T3

  1. New CCA Class 14.1 replacing ECP

    As of January 1, 2017, the eligible capital property regime (ECP) has been replaced with a new capital cost allowance (CCA) class 14.1.

    Assets added after December 31, 2016, should be entered in the option "Class 14.1 - 5% DB (after December 31, 2016)" of the CCA-Class keyword in the Business group.

    • The assets will be included at 100% with an annual CCA rate of 5%. The standard CCA rules will apply, with the exception of the terminal loss which can only be applied when the business ceases operations.

    ECP currently in the "Eligible capital property - other" and the "Eligible capital property - farming or fishing" options in the CCA-Class keyword will be transferred respectively to the "Class 14.1 - 7% (other before 2017)" and the "Class 14.1 - 7% (farming or fishing before 2017)" options in the same keyword. Assets acquired before January 1, 2017, in a tax year that straddles January 1, 2017, should be entered in this option.

    • Please note that the calculations with respect to the the tax treatment of Class 14.1 have been included in DT Max based on information available to date.

    For additional information regarding the new CCA class 14.1, please refer to the CRA's explanatory notes: http://www.budget.gc.ca/2016/docs/tm-mf/notes-en.html

DT Max T1

  1. Version highlights

    1. Suggestions from clients implemented in version 20.30

      1. Keywords from the group EPSP-SPECIAL-TAX moved into the T4PS/RL-25 slip group

        As of tax year 2017, the keyword SpecifiedEmployee related to box 40 of the T4PS slip has been added to the T4PS/RL-25 slip group. Keywords from the group EPSP-SPECIAL-TAX , in respect of the contributions to the employee profit-sharing plan (EPSP) made to a specified employee, have been moved to the T4PS/RL-25 slip group and will be displayed when the option "Yes" is selected for box 40 of the T4PS slip.

      2. Calculation of the CPP overpayment when the individual earns both employment and self-employment income

        As per the instructions pertaining to line 23 in Part 5 of Schedule 8, when the result on line 23 is a negative amount, the CPP overpayment will be calculated by the CRA and not by the program. These instructions have been followed in the past in order to comply to the CRA's certification cases. However, since the result indicated on the CRA's Notice of Assessment differs from the one calculated by the program, many clients have requested that the CPP overpayment calculation always be performed by the program. Starting with tax year 2017, whenever the amount displayed on line 23 in Part 5 of Schedule 8 is negative, the CPP overpayment will automatically be calculated by the program on line 448 of the federal tax return. Moreover, the appropriate amount will also be reflected on Schedule 1 regarding CPP contributions.

      3. Automatic request of the CRA's Express NOA service for discounted returns

        Since the appropriate box must first be checked in Part C of Form T183 in order to request the CRA's Express NOA service, clients who file returns pertaining to discounting transactions have requested that the program allow them to have this box checked by default for all discounted returns. To do so, as of tax year 2017, select the new option "Instant CRA assessment results for discounted returns" that was added in the section "Instant CRA assessment results (Express NOA) - T183 Part C" under the EFILE defaults tab from the EFILE setup window accessed via the Efile menu.

        For more information on how to use the Express NOA service, please visit the pages CRA Express NOA service and Procedure to download using the CRA's Express NOA service in the Knowledge Base.

  2. Notes

    1. Deceased or bankrupt taxpayers

      Although the tax planner might not be appropriate to prepare 2017 income tax returns for living taxpayers, it may be used legally to prepare returns on behalf of deceased or bankrupt taxpayers. Pursuant to DT Max's calculations, tax plans will appear as preliminary updates of tax forms for the new tax year. However, the returns of deceased or bankrupt taxpayers will be displayed on approved forms from the prior tax year, in conformity with the government's instructions.

      For more details, please consult the following "in-house" documents from the Knowledge Base: "Preparing the return of a deceased taxpayer" and "Preparing a bankruptcy return".

    2. Printing prescribed forms for 2017 returns

      Year after year, there is a certain level of confusion among tax preparers in regard to the forms' versions. Administrative policies differ from one level of government to the other as for the validity of the prescribed forms. DT Max was programmed in accordance with these administrative policies.

      1. Quebec

        When a 2017 tax return is produced before the official annual forms are made available, depending on whether the Quebec form is prescribed or not, the year that is printed may be 2016 or 2017. Even though the system's calculation engine is calibrated for tax year 2017, only a complete paper certification process (performed in the fall) allows the preparers to use the 2017 prescribed forms.

      2. Federal

        On all federal forms, the year is changed to 2017.

  3. Deleted forms

    Ontario

    • ON(S12) - Ontario Healthy Homes Renovation Tax Credit

    Saskatchewan

    • T1284 - Saskatchewan Employee's Tools Tax Credit

  4. New keywords

    1. In the keyword group T-Slip , respecting the federal T4PS and the Quebec RL-25 slips :

      1. SpecifiedEmployee : T4PS Box 40 - Specified employee (yes/no).

    2. In the keyword group Home-Support , pertaining to the Quebec tax credit for home-support services for seniors, when the option “No calculation” is selected:

      1. Type-Dwelling : Select the type of dwelling for which the advance payment was received.

        By selecting the "Private seniors' residence" option, the individual will not be able to claim the tax credit for a caregiver of a spouse (Quebec Schedule H - Tax credit for caregivers).

    3. In the keyword group T-Slip , pertaining to dividend income applicable to residents of Yukon:

      1. ELIGDIVBEFJULY1 : Portion of taxable amount of eligible dividends paid before July 1, 2017.

      2. DIVORD-BEFJULY1 : Portion of taxable amount of ordinary dividends paid before July 1, 2017.

    4. In the keyword group Business , respecting the business income for Quebec forest producers:

      1. PRIORYRINCLUSION : Portion of prior year deduction included this year (TP-726.PF, L.16).

    5. For the keyword CCA-Class in the Business group, regarding the disposition in 2016 of eligible capital property (ECP) for a business with a tax year that straddles 2016 and 2017:

      1. BUSINCOME-OPTION : Elected to treat gain from disposition of ECP as business income.

  5. Revised keywords

    1. The following keywords have been transferred from the group EPSP-SPECIAL-TAX to the T4PS/RL-25 slip group:

      1. EPSP-Contrib : Enter the amount of contributions from box 41 of the T4PS slip from the same employer (RC359, L.1).

      2. EPSP-Employ-Inc : Enter the income from the same employer who made contributions to the EPSP (RC359, L.2).

      3. EPSP-Oth-EmplInc : Enter the other employment income (box 35 of the T4PS slip) related to the employment income (RC359, L.3).

      4. EPSP-OptionBenf : Enter the security options benefits (box 38 of the T4 slip) related to the employment income (RC359, L.3).

  6. Deleted keywords

    1. The keyword group TOOLSCREDITS (pertaining to the Saskatchewan Employee's Tools Tax Credit.)

      1. TOOLSCREDITS

      2. TRADEOCCUPATION

      3. ONE-TIME-TRADE

      4. LISTELIGTOOLS

      5. CONDEMPLOYMENT

    2. The keyword group EPSP-SPECIAL-TAX, respecting the contributions to an employee profit-sharing plan (EPSP) made to a specified employee, has been deleted due to its keywords having been moved to the T4PS/RL-25 slip group.

    3. The keyword POLITICPROV pertaining to provincial political contributions, has been removed from the keyword group ProvCredit for the province of Quebec. To claim the tax credit for provincial political contributions, individuals had until March 17, 2016, to make contributions to a candidate in a campaign that was underway on January 1, 2013, for the leadership of a political party authorized to receive such contributions under the Election Act.

  7. New options

    1. For the keyword CPP/QPP-Method in the keyword group CPP/QPP-Note :

      Do not calculate CPP overpayment (Sch. 8 Part 5) - Per CRA

    2. For the keyword Inc-Bef-Birthday , pertaining to the Quebec tax credit for workers 63 or older:

      Q391 L.4: Amount from a previous year

    3. For the keyword Footnotes.t4 in the T4 group, pertaining to the Quebec tax credit for workers 63 or older:

      Note - Amount from a previous year (Q391)

    4. For the keyword Forest-Averag in the Business group, in respect of the business income for Quebec forest producers:

      Income-averaging for forest producers - inclusion

    5. For the keyword CCA-Class in the Business group, pertaining to eligible capital property (ECP):

      Class 14.1 - 5% (after December 31, 2016)

    6. For the sub-keyword BUSINCOME-OPTION of keyword CCA-Class , in the main keyword Business , pertaining to eligible capital property (ECP):

      Yes, I elect to treat gain as business income
      No

  8. Revised options

    1. In relation to the new CCA Class 14.1 which replaces the eligible capital property (ECP) as of January 1, 2017, the following options for keyword CCA-Class in the Business and Asset keyword groups have been renamed as follows:

      Previous options:

      Eligible capital property - other
      Eligible capital property - farming or fishing

      New options:

      Class 14.1 - 7% (other before 2017)
      Class 14.1 - 7% (farming or fishing before 2017)

  9. Deleted options

    1. For the keyword Cap-Reserves :

      Fishing (QFiP) before March 19, 2007
      Small business corporation (QSBCS) before March 19, 2007
      Farm (QFP) & fishing after 01-05-2006, before 19-03-2007

    2. For POLITICPROV in the keyword group PROVCRED for the province of Quebec:

      Provincial eligible political contribution

DT Max T2

  1. Program certification

    Federal:

    For DT Max T2 version 20.30, the federal barcodes and the Corporation Internet Filing module have received full CRA certification valid for taxation years ending up to and including October 31, 2017, under the DT35 stamp.

    Alberta:

    Likewise, this version has received full certification for the RSI (Return and Schedule Information), as well as for the Net File module that allows the electronic filing of Alberta corporate tax returns, from Alberta's Tax and Revenue Administration (TRA) under the DT35 stamp.

    Quebec:

    Version 20.30 has also undergone an authorization process with Revenu Québec for the paper version of the Quebec MR-69 and has been approved under number RQ16-MR69-201405-IS005.

  2. Version highlights

    1. Electronic submission of T106 slip and T1134 supplement

      1. Federal T106 e-submission

        Efile service providers will have the capability to electronically submit the Form T106, Information Return of Non-Arm's Length Transactions with Non-Residents, and the associated T106 slip(s) to the Canada Revenue Agency (CRA).

        From the Efile menu, clicking T106 e-submission and OK will transmit the T106 Form and its slip(s).

        After you click OK, DT Max will automatically submit each T106 Form and its associated slip(s) separately. The files will be processed in real time, meaning that the response will be almost instantaneous. The results can be viewed from the Results log or from within the client's file.

        Please note that if the T106 e-submission is accepted, DT Max will write the result into the Progress keyword group. If it is rejected, the error code will be written into the EfileT106Error keyword.

        The keyword Amended.t106 must be set to Yes if you wish to electronically submit an amended T106 Summary. To electronically submit an amended T106 slip or to delete one, you must select the desired action within the keyword Slip-Type for the T106 slip in question before resubmitting it. If a T106 slip has not undergone any modification then it must be set to Unmodified.

        IMPORTANT: Please do not submit paper copies of the T106 Form or its slip(s) unless requested to do so by the CRA.

      2. Federal T1134

        Efile service providers will have the capability to electronically submit the Form T1134, Information Return Relating to Controlled and Not-Controlled Foreign Affiliates, and the associated T1134 supplement(s) to the Canada Revenue Agency (CRA).

        From the Efile menu, clicking T1134 e-submission and OK will transmit the T1134 Form and its supplement(s).

        After you click OK, DT Max will automatically submit each T1134 Form and its associated supplement(s) separately. The files will be processed in real time, meaning that the response will be almost instantaneous. The results can be viewed from the Results log or from within the client's file.

        Please note that if the T1134 e-submission is accepted, DT Max will write the result into the Progress keyword group. If it is rejected, the error code will be written into the EfileT1134Error keyword.

        The keyword Amend-Return must be set to Yes if you wish to electronically submit an amended T1134 Summary. To electronically submit an amended T1134 supplement or to delete one, you must select the desired action within the keyword Supplement-Type for the T1134 supplement in question before resubmitting it. If a T1134 supplement has not undergone any modification then it must be set to Unmodified.

        IMPORTANT: Please do not submit paper copies of the T1134 Form or its supplement(s) unless requested to do so by the CRA.

    2. Quebec EFILE: Replacement of Clic Revenu

      Please note that following RQ's system update, Clic Revenu has been replaced by My Account for Businesses. As a result of this change, MRW-69 in Clic Revenu has been replaced by MRW-69.E in My Account for Businesses.

    3. Schedule 8: Class 41.2 and phase-out of accelerated CCA

      The accelerated CCA available for the mining assets will be phased out over the 2017 to 2020 calendar years.

      A taxpayer will be allowed to claim a percentage of the amount of the accelerated CCA otherwise permitted under the existing rules according to the following table:

      2013 to 2016 100%
      2017 90%
      2018 80%
      2019 60%
      2020 30%
      After 2020 0%

      Rates will be prorated for taxation years that straddle two calendar years.

    4. Schedule 411: Elimination of the additional deduction for credit unions and decrease of the general corporate tax rate

      Schedule 411 has been updated to reflect the following changes:

      The additional deduction for credit unions has been eliminated for days in the tax year after December 31, 2019. The special tax reduction that currently applies to allow credit unions to pay a lower rate of tax on a portion of their income will be phased out over the next four years beginning in 2017.

      In addition, effective July 1, 2017, the general corporate tax rate will decrease from 12% to 11.5%, and further decrease to 11% effective July 1, 2019.

    5. Schedule 443: Changes affecting the corporate tax rates

      This form has been updated to reflect the following budget changes in the corporate tax rates effective July 1, 2017:

      • The general corporate tax rate will decrease to 12% from 15%.

      • The small-business corporate tax rate will decrease to 2% from 3%.

    6. Schedule 346: Increase of the Nova Scotia small-business limit

      This form has been updated to reflect the following budget changes:

      Effective January 1, 2017, the $350,000 Nova Scotia small-business limit has been increased to $500,000, which matches the federal small-business limit.

      Also, the form has been updated to remove references to days in the tax year before January 1, 2014.

    7. Change affecting the Saskatchewan provincial sales tax (PST)

      The PST rate for Saskatchewan has increased from 5% to 6%, effective March 23, 2017.

    8. Changes to form RC59 and introduction of new form RC59X

      1. RC59

        This form has undergone several changes. One of the main changes is that there are no longer barcodes on the first page of the RC59. This is due to the fact that the CRA has ended their pilot project which consisted of the printing of barcodes on the form.

        In addition, form RC59 was used to either authorize a representative or cancel consent for an existing representative. The revised RC59 is only valid to give a representative offline access.

        Part 2(b) "Authorize online access (includes access by telephone and mail)" has been removed since Form RC59, Business Consent, is no longer used to grant online access. Representatives need to complete an authorization request in Represent a Client or be authorized by owners through My Business Account to gain online access.

        As such, RepID, GroupID and Group-Name have been removed from the Preferences menu -> Identification -> Identification tab as well as references to authorize online access to the RC59 from the Preferences menu -> User's defaults - > Tax return tab.

      2. RC59X

        If you wish to cancel consent for an existing representative, the new form RC59X must be used. This new form has been implemented in this version of DT Max T2.

        Please note that if the data for cancelling consent was entered with a previous version of DT Max, DT Max will automatically generate the new form RC59X. No changes have been made to the data entry.

    9. Revised NAICS codes (IMPORTANT reminder)

      Please note that there is a revised version of the NAICS codes for 2017.

      We have been notified by the CRA that they have still been receiving numerous corporate returns with invalid NAICS codes.

      We wish to remind you that the integration of NAICS codes requires corporations to pick their main revenue-generating business activity. Active corporations that file their T2 returns either by Internet or on paper using 2D barcodes must choose the most appropriate code to describe their main revenue-generating business activity.

      It is crucial that the most accurate business activity is selected using the keyword NAICS.act in the Activity keyword group. The corporation should validate that the business description chosen for the last return filed is still accurate. Please check the entry for the NAICS code and make sure it is still a valid one. If your selection is part of the list, then the code is a valid one. If your option is no longer part of the list, please delete the invalid code and re-enter an existing one that best describes the main revenue-generating business activity.

    10. Hours and minutes on Schedule 200

      This version of DT Max T2 allows T2 returns with hours and minutes (HHMM) in the tax year start (TYS), and/or tax year end (TYE) under certain situations, as well as hours and minutes (HHMM) for the date of acquisition of control.

      This feature is available to Corporation Internet Filing (CIF) and T2 Bar Code returns. This requirement is not for client paper filing and will not be seen on page 1 of Schedule 200.

      Three new keywords have been added to enter the hours and minutes: YearStart-Time, YearEnd-Time and ChangeDate-Time.

      Please refer to the New keywords section of the What's New for more information on the specific situations and details respecting these keywords.

  3. New forms

    Federal

    • RC59X - Cancel Business Consent or Delegated Authority

    Quebec

    • CO-726.PF - Income-Averaging Deduction for Forest Producers (N.B.: Please note that no calculation support is available for this form.)

  4. Revised forms

    Federal

    • Schedule 200 - T2 Corporation Income Tax Return (2016 and later tax years)

      On page 2 (Attachments), line 237 "Is the corporation claiming a surtax credit?" has been deleted due to the deletion of Schedule 37.

      On page 4 (Small business deduction), lines 427, 490, 500, 505, 510 and 515 are now captured in the barcode and for EFILE purposes.

    • Schedule 200 5-Year Summary

    • Schedule 200 Planning Summary

    • Barcode Return

    • Schedule 2 - Charitable Donations and Gifts (2016 and later tax years)

      In Part 1 (Charitable donations), new line 263 has been added for the amount of qualifying donation for the Nova Scotia food bank tax credit for farmers. Donations must be made after December 31, 2015. The tax credit is equal to 25% of the qualifying donations.

      The keyword Charity with the option "Food bank donation for farmers - NS" opens up the group to enter information pertaining to the above.

      Also, in Part 1 (Charitable donations), new line 265 has been added for the amount of qualifying gifts for the British Columbia farmers' food donation tax credit. Donations must be made after February 16, 2016, and before January 1, 2019. The tax credit is equal to 25% of the qualifying gifts.

      The keyword Charity with the option "Food donation for farmers - BC" opens up the group to enter information pertaining to the above.

    • Schedule 5 - Tax Calculation Supplementary - Corporations (2016 and later tax years)

      New line 570 has been added for Nova Scotia food bank tax credit for farmers and new line 683 has been added for the BC farmers' food donation tax credit.

      Line 414 has been deleted for Ontario transitional tax credits.

      Lines 643 and 860 pertaining to the Saskatchewan film employment tax credit have been deleted.

      Line 740 has been deleted for the Nunavut business training tax credit

    • Schedule 7 - Aggregate Investment Income and Active Business Income (2016 and later tax years)

      New lines 311, 335 and 336 have been added to part 3 (Specified partnership income). This is to reflect the income of the corporation from providing services or property to partnership, specified partnership business limit assigned to the corporation as well as the specified partnership business limit assigned by the corporation.

      Also new in Part 3 are Tables 2 and 3 which are used to make an assignment of specified partnership business limit under subsection 125(8). A person that is a member of a partnership can make an assignment of specified partnership business limit under subsection 125(8) to a designated member for any tax year that starts after March 21, 2016. Also, that person can make an assignment for its tax year that starts before March 22, 2016, and ends after March 21, 2016, if the tax year of the designated member starts after March 21, 2016.

      Part 6 (Specified corporate income and assignment under subsection 125(3.2) has been added and reflects the fact that a CCPC can make an assignment of business limit to the corporation for its tax year that starts before March 22, 2016, and ends after March 21, 2016, if the corporation's tax year starts after March 21, 2016.

      The group SBD-Agreement opens up the group that allows you to enter the information concerning the aforementioned.

      New line 540 (Income referred to in clause 125(1)(a)(i)(c)) in Part 5 (Income from active business carried on in Canada) has been added. Use the keyword ExclPropInc in the IncomeSource group to enter this information.

    • Schedule 46 - Part II - Tobacco Manufacturers' Surtax (2007 and later taxation years)

      The tobacco manufacturers' surtax payable is eliminated as of March 23, 2017. As such, this version of DT Max T2 supports this change.

    • Schedule 341 - Nova Scotia Corporate Tax Reduction for New Small Businesses (2016 and later tax years)

      This form has been updated to remove references to days in the tax year before January 1, 2014.

    • Schedule 346 - Nova Scotia Corporation Tax Calculation (2016 and later tax years)

    • Schedule 383 - Manitoba Corporation Tax Calculation (2016 and later tax year)

    • Schedule 411 - Saskatchewan Corporation Tax Calculation (2016 and later tax years)

    • Schedule 422 - British Columbia Film and Television Tax Credit (2015 and later tax years)

      In Part 8 (Regional tax credit), two new line numbers have been added (lines 702 and 704) for animated productions that start key animation after June 26, 2015. Use the new keyword BC-LABOUREXP in Credit-Types subgroup option "Regional tax credit" within the Cred-Film group option "British Columbia film and television" to enter information on these new lines.

      In Part 9 (Distant location regional tax credit), two new line numbers have been added (lines 667 and 669) for animated productions that start key animation after June 26, 2015. Use the new keyword BC-LABOUREXP in Credit-Types subgroup option "Distant location regional tax credit" within the Cred-Film group option "British Columbia film and television" to enter information on these new lines.

      Part 11 (Digital animation, visual effects and post-production tax credit) has changed to reflect the fact that the DAVE production services tax credit rate is 16% for productions that start principal photography after September 30, 2016. For episodic productions that start principal photography of the first eligible episode before October 1, 2016, the DAVE production services tax credit rate will remain at 17.5% for all other eligible episodes in that cycle.

    • Schedule 423 - British Columbia Production Services Tax Credit (2015 and later tax years)

      Part 6 (Production services tax credit) has changed to reflect the fact that the basic production services tax credit rate is 28% for productions that start principal photography after September 30, 2016. For episodic productions that start principal photography of the first eligible episode before October 1, 2016, the basic production services tax credit rate will remain at 33% for all other eligible episodes in that cycle.

      In Part 7 (Regional production services tax credit), two new line numbers have been added (lines 822 and 827) for animated productions that start key animation after June 26, 2015. Use the new keyword BC-LABOUREXP in Credit-Types subgroup option "Regional production tax credit" within the Cred-Film group option "British Columbia production services" to enter information on these new lines.

      In Part 8 (Distant location production services tax credit), two new line numbers have been added (lines 840 and 842) for animated productions that start key animation after June 26, 2015. Use the new keyword BC-LABOUREXP in Credit-Types subgroup option "Distant location prod. services tax cr." within the Cred-Film group option "British Columbia production services" to enter information on these new lines.

      Part 9 (Digital animation, visual effects and post-production services tax credit) has changed to reflect the fact that the DAVE production services tax credit rate is 16% for productions that start principal photography after September 30, 2016. For episodic productions that start principal photography of the first eligible episode before October 1, 2016, the DAVE production services tax credit rate will remain at 17.5% for all other eligible episodes in that cycle.

    • Schedule 427 - British Columbia Corporation Tax Calculation (2016 and later tax years)

      This form has been updated to reflect the following budget change:

      This budget pauses the phase-out of the provincial preferential income tax treatment for credit unions pending the completion of the Financial Institutions Act and Credit Union Incorporation Act review. For the 2017 tax year, a credit union will continue to receive 80% of the full preferential tax treatment instead of having its value reduced to 60%, as was previously planned.

    • Schedule 443 - Yukon Corporation Tax Calculation (2016 and later tax years)

    • Schedule 500 - Ontario Corporation Tax Calculation (2016 and later tax years)

      This form has been updated to reflect the following budget change:

      Parallelling federal changes to the small-business deduction:

      The government proposes to parallel changes made to the federal small-business deduction by reducing a corporation's Ontario business limit by the same amount that the federal business limit is reduced. This would apply where a corporation assigns any portion of its business limit to another corporation under certain circumstances.

    • Schedule 508 - Ontario Research and Development Tax Credit (2016 and later tax years)

      The revised form now reflects the changes made to the calculation rate for the repayment of assistance. New lines have been added in Part 2 (Eligible repayments) and Part 3 (Calculation of the current part of the ORDTC) of the form as a consequence.

    • Schedule 566 - Ontario Innovation Tax Credit (2016 and later tax years)

      Part 7 (Calculation of the Ontario innovation tax credit) changed to reflect the decrease of the Ontario innovation tax credit rate from 10% to 8%.

      As such, new lines were added for the OITC calculation for a tax year that ends on or after June 1, 2016, and includes May 31, 2016, as well as for tax years that start after May 31, 2016.

    • T106 - Information Return of Non-Arm's Length Transactions with Non-Residents

    • T1134 - Information Return Relating To Controlled and Not-Controlled Foreign Affiliates (2011 and later taxation years)

    • T2054 - Election for a Capital Dividend Under Subsection 83(2)

    • RC59 - Business Consent

    Quebec

    • CO-156.TR - Additional Deduction for Transportation Costs of Small and Medium-Sized Manufacturing Businesses

      Increase in the additional deduction for transportation costs of certain remote manufacturing SMEs

      To provide more assistance to manufacturing small and medium-sized enterprises (SMEs) that carry out their activities in the "special remote area," the 7% additional deduction rate associated with this area will be raised to 10%. This additional deduction rate will apply to taxation years beginning March 29, 2017.

      This change has been implemented in the version of DT Max T2.

    • MR-69 - Power of Attorney, Authorization to Communicate Information, or Revocation

    • CO-771 - Calculation of the Income Tax of a Corporation

      This form has been updated to reflect the change in the Quebec budget 2017 with respect to the adjustment to the refocusing of the SBD - Replacement of the hours worked criterion.

      The qualification criterion concerning the minimum number of hours worked will be replaced by a qualification criterion concerning the minimum number of hours paid.

      The thresholds of 5 000 hours and 5 500 hours will be kept for the purposes of the new qualification criterion. The special rules applicable to the qualification criterion based on hours worked will be adapted to take into account the fact that the qualification criterion will now be based on hours paid for a corporation's employees.

    Please note that English versions of the Quebec forms below are now available:

    • CO-771.1.3.AT - Business Limit Allocated to a Corporation That Has Specified Corporate Income

    • CO-771.2.1.2 - Income from an Eligible Business Carried On in Canada by a Member of a Partnership

    • CO-771.2.1.AT - Business Limit Allocated to a Corporation That Is a Designated Member of a Partnership

    • CO-1029.8.36.ES - Tax Credit for the Production of Sound Recordings

    • CO-1029.8.36.PM - Tax Credit for Corporations Specialized in the Production of Multimedia Titles

    • CO-1029.8.36.PT - Tax Credit relating a Major Digital Transformation Projects

    • CO-1029.8.36.SP - Tax Credit for Film Production Services

    • CO-1029.8.36.TM - Tax Credit for Multimedia Titles

    • CO-1029.8.36.XM - Tax Credit for the Production of Multimedia Events or Environments Presented Outside Québec

    In-house forms

    • Carryforward Schedule

    • Client letter

  5. Deleted forms

    Federal

    • Schedule 37 - Calculation of Unused Surtax Credit

    • Schedule 410 - Additional Certificate Numbers for the Saskatchewan File Employment Tax Credit

    • Schedule 490 - Nunavut Business Training Tax Credit

  6. New keywords

    1. In the Credit-Types subgroup of the Cred-Film group, pertaining to federal Schedules 422 (British Columbia Film and Television Tax Credit) and 423 (British Columbia Production Services Tax Credit ):

      1. BC-LABOUREXP : British Columbia labour expense incurred.

        Use the keyword BC-LABOUREXP to indicate the type of British Columbia labour expense incurred for the year.

    2. In the NonRes-Trans group, pertaining to federal form T106 (Information Return of Non-Arm's Length Transactions with Non-Residents):

      1. Slip-Type : T106 slip type code.

        Use the keyword Slip-Type to specify the type of T106 slip being generated. If you wish to resubmit the T106 form electronically, you must modify each T106 Slip-Type to unmodified, amended, or deleted depending on the action required.

      2. REASON-DELETION : Reason the T106 slip is being deleted.

        Use the keyword REASON-DELETION to explain why the T106 slip is being deleted.

    3. Standalone keyword under the "Efile" header, pertaining to federal form T106:

      EfileT106Error : Efile T106 error code.

      The keyword EfileT106Error lists the T106 error message(s) received during e-submission. Please refer to our knowledge base for a listing of all the T106 error messages.

    4. Standalone keyword under the "Efile" header, pertaining to federal form T1134 (Information Return Relating To Controlled and Not-Controlled Foreign Affiliates):

      EfileT1134Error : Efile T1134 error code.

      The keyword EfileT1134Error lists the T1134 error message(s) received during e-submission. Please refer to our knowledge base for a listing of all the T1134 error messages.

    5. In the Foreign-Info group, pertaining to federal form T1134:

      1. FILER-TYPE : Type of filer.

        Use the keyword FILER-TYPE to specify the type of filer who is the reporting taxpayer for the related party group. This is required for EFILE purposes.

      2. Supplement-Type : T1134 supplement type code.

        Use the keyword Supplement-Type to specify the type of T1134 supplement being generated. If you wish to resubmit the T1134 form electronically you must modify each T1134 Supplement-Type to unmodified, amended, or deleted depending on the action required.

      3. ReasonDeletion : Reason the T1134 supplement is being deleted.

        Use the keyword ReasonDeletion to explain why the T1134 supplement is being deleted.

    6. In the Partner-Name.sb group, pertaining to federal Schedule 7 (Aggregate Investment Income and Active Business Income):

      TRUSTNUMBER.SBD : Trust account number of the partner (TNN-NNNN-NN).

      Use the keyword TRUSTNUMBER.SBD to enter the trust account number of the partner.

      The format of the trust number is "TNN NNNN NN".

      If the partner does not have a trust number, you must enter "NA".

    7. In the YearStart-Time group, pertaining to federal Schedule 200 (T2 Corporate Income Tax Return):

      1. YearStart-Time : Hours and minutes (00:00 to 23:59) in the tax year start (TYS).

        Corporations for which the answer YES was selected in any specific situation require the inclusion of hours and minutes (HH:MM) in their TYS. You may enter anything from 00:00 to 23:59.

        Specific situations include

        • Acquisition of Control under subsection 249(4) [question at line 200063]

        • Year end on CCPC status change - subsection 249(3.1) [question at line 200066]

        • Successor's 1st year after amalgamation - section 87 [question at line 200071]

        • Winding up of a Subsidiary - subsection 88(1) [question at line 200072]

        • Predecessor's final year to amalgamation - section 87 [question at line 200076]

          If the corporation has not answered YES to any specific situation, the corporation should not enter any HH:MM.

      2. YearEnd-Time : Hours and minutes (00:00 to 23:59) in the tax year end (TYE).

        Corporations for which the answer YES was selected in any specific situation require the inclusion of hours and minutes (HH:MM) in their TYE. You may enter anything from 00:00 to 23:59.

        Specific situations include

        • Acquisition of Control under subsection 249(4) [question at line 200063]

        • Year end on CCPC status change - subsection 249(3.1) [question at line 200066]

        • Successor's 1st year after amalgamation - section 87 [question at line 200071]

        • Winding up of a Subsidiary - subsection 88(1) [question at line 200072]

        • Predecessor's final year to amalgamation - section 87 [question at line 200076]

          If the corporation has not answered YES to any specific situation, the corporation should not enter any HH:MM.

      3. ChangeDate-Time : Hours and minutes (00:00 to 23:59) in date control was acquired - line 65 of Sch. 200.

        Corporations for which the answer YES was selected on line 63 of Schedule 200 require the inclusion of hours and minutes (HH:MM) in the date control was acquired at line 65 of Schedule 200. You may enter anything from 00:00 to 23:59.

        If the corporation has not answered YES to this specific situation, the corporation should not enter any HH:MM.

    8. In the SR&EDInfo group, pertaining to federal Schedule 569 (Ontario Business-Research Institute Tax Credit Contract Information):

      1. ContactName.s : Name of person to contact.

        Use the keyword ContactName.s to enter the name of the person to contact for more information for purposes of federal Schedule 569.

      2. ContactPhone.s : Telephone number of contact person.

        Use the keyword ContactPhone.s to enter the telephone number of the contact person for purposes of federal schedule 569.

  7. Revised keywords

    1. Subsequent to the Quebec 2017 Budget, the following keyword in the RelatedParty group, in respect of Quebec form CO-771 (Calculation of the Income Tax of a Corporation), has been revised:

      Hours-Employees.re : Hours paid for employees of the related party.

      Use the keyword Hours-Employees.re to indicate the number of hours paid for employees of the related party.

    2. Subsequent to the Quebec 2017 Budget, the following keyword in the CorpHistory group, in respect of Quebec form CO-771 has been revised:

      Hours-Employees.h : Hours paid for employees of the corporation in the prior year.

      Use the keyword Hours-Employees.h to indicate the number of hours paid for employees of the corporation in the prior year.

    3. Subsequent to the Quebec 2017 Budget, the following standalone keyword in respect of Quebec form CO-771 has been revised:

      Hours-Employees : Hours paid for employees of the corporation in the current year.

      Use the keyword Hours-Employees to indicate the number of hours paid for the employees of the corporation in the current year.

  8. Deleted keywords

    1. Pertaining to the deleted federal Schedule 490 (Nunavut Business Training Tax Credit):

      1. CERT-NUM.E : Certificate number.

      2. BTTC-CERT : Amount of business training tax credit (BTTC) indicated on certificate.

      3. TRAININGEXP : Amount of business training expenses

    2. In the Account subgroup of the Consent GROUP , pertaining to federal form RC59 (Business Consent):

      TAXYEAR-ACCESS : Fiscal period end date, if not authorizing access to all years.

  9. New options

    1. For the new keyword BC-LABOUREXP , pertaining to federal Schedules 422 and 423:

      ABCLE incurred outside desig. Vancouver area
      ABCLE in a distant location
      ABCLE for the tax year
      BCLE incurred outside desig. Vancouver area
      BCLE in a distant location
      Total BC labour exp. for the tax year

    2. For the keyword ERI-Code in the SR&EDInfo group , pertaining to federal Schedule 569 (Ontario Business-Research Institute Tax Credit Contract Information):

      515 Centre for Excellence in Mining Innovation (CEMI)
      516 Vineland Research and Innovation Centre
      517 Sunnybrook Research Institute

    3. For the keyword Progress, pertaining to federal forms T1134 (Information Return Relating To Controlled and Not-Controlled Foreign Affiliates) and T106 (Information Return of Non-Arm's Length Transactions with Non-Residents):

      T106 Summary form and slips - submitted
      T106 Summary form and slips - resubmitted
      T1134 Summary form and supplements - submitted
      T1134 Summary form and supplements - resubmitted

    4. For the new keywords REASON-DELETION , REASONDELETION , Slip-Type and Supplement-Type , pertaining to federal forms T1134 and T106:

      Original
      Amended
      Deleted (closed)
      Unmodified
      Duplicate
      Filed in error
      Other

    5. For the keyword Charity , pertaining to federal Schedule 2 (Charitable Donations and Gifts):

      Food bank donation for farmers - NS
      Food donation for farmers - BC

    6. For the new keyword FILER-TYPE , pertaining to federal form T1134:

      Corporation
      Individual
      Trust
      Partnership

    7. For the keyword Que-Credits , pertaining to the CO-17 Quebec Corporate Income Tax Return:

      Production of biodiesel fuel in Quebec

    8. For the keyword Special-Tax , pertaining to the CO-17 Quebec Corporate Income Tax Return:

      Additional CCA - Data processing or M&P equipment

    9. For the keyword Net-Inc-Ded , pertaining to the CO-17 Quebec Corporate Income Tax Return:

      Add. ded. transport. costs SMEs remote area

      Additional CCA - Data processing or M&P equipment

    10. For the keyword Letter-Data , pertaining to the electronic submission of federal forms T1134 and T106:

      T106 e-submission [1=Yes, 0=No]
      T1134 e-submission [1=Yes, 0=No]

  10. Revised options

    1. Subsequent to the Quebec 2017 Budget, the following options for the keywords Hours-Employees , Hours-Employees.re , Hours-Employees.h , in respect of Quebec form CO-771 (Calculation of the Income Tax of a Corporation), have been revised:

      Total number of hours paid for employees during tax year
      Total number of hours paid for employees in prior year

  11. Deleted options

    1. For the keyword Employment , pertaining to the deleted federal Schedule 490 (Nunavut Business Training Tax Credit):

      Nunavut business training tax credit

    2. For the deleted keyword TRAININGEXP, pertaining to the deleted federal Schedule 490 (Nunavut Business Training Tax Credit):

      Total business training expenses
      Portion of exp. for employees under NU Land Agreement

    3. For the keyword Cred-Film , pertaining to the deleted federal Schedule 410 (Additional Certificate Numbers for the Saskatchewan File Employment Tax Credit):

      Saskatchewan film employment

    4. For the deleted keyword TAXYEAR-ACCESS , pertaining to federal form RC59 (Business Consent):

      Specific period only

  12. Message from the CRA: Consolidation of tax centres

    Under the CRA's service renewal initiative, there has been a consolidation of their tax centres. The tax centres in Winnipeg, Sudbury, and Summerside will continue processing corporation tax returns.

    To determine where to mail the corporation return, see DT Max's Assembly instructions or click on the following CRA link: https://www.canada.ca/en/revenue-agency/corporate/contact-information/where-send-your-corporation-income-tax-t2-return.html.

DT Max T3

  1. Program certification

    Quebec

    Version 20.30 has undergone an authorization process with Revenu Québec for the paper version of form MR-69, Power of Attorney, Authorization to Communicate Information, or Revocation, and has been approved under number RQ16-MR69-201405-IF004.

  2. Version highlights

    1. Suggestions from clients that have been added to version 20.30

      1. Keyword TRUST-INFO: More detailed options available

        The keyword Trust-Info can be used to answer the questions on the federal and Quebec trust returns. Further details have been added to this keyword's list of options in order to clarify the corresponding line number on the respective tax returns. Here is a sample of these new options:

        Payment of income to beneficiaries (Fed Q2/QC Q20)
        Payment of income not required by will (Fed Q2/QC Q20)
        Assets (not cash) distributed to beneficiary (Fed Q3/QC Q21)
        Etc.

    2. Known issue fixed in version 20.30: Schedule 9

      The dividend tax credit for dividends other than eligible dividends was being calculated for ineligible entities, ex: Corporations. This issue has been fixed in version 20.30.

    3. Authorization forms T1013 and MR-69

      The authorization forms, T1013 and MR-69, should not be submitted to their respective governments on a yearly basis. DT Max T3 will now carry forward the information that the authorization forms have previously been submitted which will then prevent DT Max T3 from automatically generating the forms.

    4. Ontario Bill 127 (2017, c.8) Stronger, Healthier Ontario Act

      Ontario Bill 127 (2017, c.8) Stronger, Healthier Ontario Act (Budget Measures) amends the Taxation Act, 2007 with respect to the method of calculating the surtax payable by multi-jurisdictional tax filers. The surtax is to be calculated based on the total amount of Ontario tax on taxable income. The percentage of income allocated to Ontario will be applied after the total amount of tax payable including the surtax is calculated.

      In order to reflect this change prior to the availability of the form by the CRA, DT Max has modified the T3ONMJ to update the calculation of the surtax.

      A supplementary Chart 2 to calculate the Ontario additional tax for minimum tax purposes has also been developed to apply the same principle of the surtax calculation.

    5. Alberta Bill 15, Tax Statutes Amendment Act, 2017

      Alberta Bill 15, Tax Statutes Amendment Act, 2017 has revised the dividend tax credit rate to 54/359ths of the gross-up amount for non-eligible dividends. This new rate will be applied on form T3AB and T3ABMJ for the 2017 taxation year and subsequent taxation years.

    6. Manitoba budget - April 11, 2017

      Starting with the 2018 tax year, the maximum eligible contribution for the Political Contributions Tax Credit has been increased from $1,275 to $2,325 which results in an increase in the annual credit to $1,000.

    7. Saskatchewan budget - March 22, 2017

      The following tax issues have been incorporated in this version for tax year 2017:

      1. The reduction of the personal tax rates by 0.5% effective July 1, 2017, at all income levels. As a result, the following rates will apply for 2017, from the lowest to the highest tax brackets respectively: 10.75%, 12.75% and 14.75%.

      2. The reduction of the general corporate income tax rate from 12% to 11.5% as of July 1, 2017.

        This change directly affects the specified investment flow-through (SIFT) trust income and distribution tax calculations.

      3. Due to the reduction of the corporate income tax rate, Saskatchewan's dividend tax credit for eligible dividends will also decrease.

      4. The increase of the provincial sales tax (PST) from 5% to 6% effective April 1, 2017.

    8. Yukon budget - April 27, 2017

      The following tax issues have been incorporated in this version for the tax year 2017:

      1. The reduction of the general corporate income tax rate from 15% to 12% as of July 1, 2017.

        This change directly affects the specified investment flow-through (SIFT) trust income and distribution tax calculations.

      2. Due to the reduction of the corporate income tax rate, Yukon's dividend tax credit for both the eligible dividends and the non-eligible dividends will also decrease. However, these decreases will only take effect as of the 2018 tax year.

    9. Processing tax centres for trust returns: New Knowledge Base document

      In order to help you achieve efficient tax compliance and better direct your trust-related inquiries, we have integrated a new document to our Knowledge Base, Processing tax centres for trust returns and related forms, which lists all the mailing addresses for the relevant tax centres that process specific tax forms for trusts.

  3. Revised forms

    Federal

    • Schedule 11 - Federal income tax

    • T3AB - Alberta Tax

    • T3BC - British Columbia Tax

    • T3MB - Manitoba Tax

    • T3NB - New Brunswick Tax

    • T3NL - Newfoundland and Labrador Tax

    • T3NT - Northwest Territories Tax

    • T3NU - Nunavut Tax

    • T3ON - Ontario Tax

    • T3SK - Saskatchewan Tax

    • T3SK(CG) - Saskatchewan Farm and Small Business Capital Gains Tax Credit (Trusts)

    • T3YT - Yukon Tax

    • T3MJ - T3 Provincial and Territorial Taxes for 2016 - Multiple Jurisdictions

    In-house forms

    • Assembly Instructions

  4. Warning: verifying carry-forward amounts

    As always, we recommend that you verify your carry-forward amounts carefully before processing your client files.

  5. New diagnostics

    1. Notes and diagnostics

      QUEBEC MR-69 - Power of Attorney, Authorization to Communicate Information or Revocation

      1. An entry in one of these fields is mandatory: The Identification Number or SIN (in Part 1). Enter missing information through the keywords ID-Number or SIN .

      2. An entry in one of these fields is mandatory: Last name and First name or Name of business (in Part 2). Enter missing information via Preferences menu > Identification > Main name and address or Alternate name and address or by using keyword Consent-Rep option Authorize - other representative or Power of attorney - other.

      3. The address of the designated person is mandatory. Enter missing information via Preferences menu > Identification > Main name and address or Alternate name and address or by using keywords STREET.REP, CITY.REP and POSTAL-CODE.REP .

      4. An entry in both of these fields is mandatory: Last name and First name of the authorizing person (in Part 4). Enter missing information by entering the last name of the trustee with the keyword Trustee and the first name with keyword First-Name.tr (if applicable) or by entering the contact person information through keyword CONTACT-PERSON.TR .

  6. New keywords

    1. A new subgroup CONTACT-PERSON.TR has been created in the Trustee group, in order to break down the first name and the last name of the contact person:

      1. FIRST-NAME.CP : First name of the contact person.

        Use the keyword FIRST-NAME.CP to enter the contact person's given name. This information is required when the trustee is not an individual.

      2. LAST-NAME.CP : Last name of the contact person.

        Use the keyword LAST-NAME.CP to enter the contact person's family name. This information is required when the trustee is not an individual.

    2. For the keyword CCA-Class , in the Business group, regarding the disposition in 2016 of eligible capital property (ECP) for a business with a tax year that straddles 2016 and 2017:

      1. BUSINCOME-OPTION : Elected to treat gain from disposition of ECP as business income.

        Use the keyword BUSINCOME-OPTION to indicate the corporation has elected under subparagraph 13(38)d)iii) to treat the gain from the disposal of eligible capital property as business income.

        This option is only available if the tax year straddles January 1, 2017, and the disposition is before January 1, 2017. The election must be made in writing to the Minister before the filing due date.

  7. New options

    1. For the keyword BUSINCOME-OPTION :

      Yes, I elected to treat gain as business income
      No

    2. For the keyword CCA-Class :

      Class 14.1 - 7% (other ECP before 2017)
      Class 14.1 - 7% (farming/fishing ECP before 2017)
      Class 14.1 - 5% (ECP after December 31, 2016)

DT Max T5013

  1. Revised forms

    Federal

    • RC59 - Business Consent

    • RC59X - Cancel Business Consent of Delegated Authority

    • T2059 - Election on Disposition of Property by a Taxpayer to a Canadian Partnership

  2. New options

    1. For the keyword CCA-Class , pertaining to federal Schedule 8 (Capital Cost Allowance (CCA)):

      Class 41.2 - 25% DB

      Class 41.2 (25 per cent CCA rate) includes property other than an oil sands property or eligible mine development property,

      (a) that is acquired by a taxpayer after March 20, 2013, and before 2021 and that, if acquired on March 20, 2013, would be included in paragraph (a) or (a.1) of Class 41; or

      (b) that is acquired by a taxpayer after 2020 and that, if acquired on March 20, 2013, would be included in paragraph (a) or (a.1) of Class 41.

      These separate classes of properties remain eligible for the full accelerated CCA until 2016. Beginning with 2017, accelerated CCA is phased out and the amount of the additional allowance will be reduced each year, regardless of whether the constraint is the level of project income or the amount of the undepreciated capital cost. The percentage allowed, as accelerated CCA, in each calendar year will be 90% for 2017, 80% for 2018, 60% for 2019 and 30% for 2020 of the amount otherwise allowable as accelerated CCA. No accelerated CCA will be allowed and only the regular 25% CCA rate will apply for assets in this Class after 2020.

      Eligible mine development property acquired after March 20, 2013, and before 2018 can be included in Class 41.

     

     

    June 15, 2017