What's new for T1/T3/T5013 Internet version 26.12?

The latest DT Max program update is now available for downloading. It features the fully functional T1/TP-1 program for the tax years 2011 to 2022 inclusively and fully supports T1/TP-1 EFILE. It also features the T3/TP-646 program for tax years ending from 2011 to 2023 inclusively, as well as the fully functional T5013 program for paper and electronic filing of the Partnership Information Return (T5013 forms) for fiscal periods ending from 2013 to 2022. Installing this version will update your version of DT Max to 26.12.

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

In this version...

DT Max T1

1. Version highlights
   1. Known issue fixed in version 26.12
   2. E-signature support added for two additional T1 forms
   3. Underused Housing Tax
2. New keywords

DT Max T3

1. Version highlights
   1. 2023 tax brackets and rates
   2. Saskatchewan's non-eligible dividend tax credit rate
   3. Invoice amount in the client list
2. New options

DT Max T5013

1. Known issues fixed in version 26.12
   1. Rental schedule
   2. CO-130.AD - Capital Cost Allowance for Immediate Expensing Property
2. New options

DT Max T1

1. Version highlights

   1. Known issue fixed in version 26.12

      Calculation of earned income for child care expenses (T778) with a T4E

   2. E-signature support added for two additional T1 forms

      The T1135 and TP-274 forms can be sent to Onvio Client Centre for e-signature purposes. This feature is only available for firms licenced for Onvio Firm Management (Essentials or Advanced).

   3. Underused Housing Tax

      If you are an affected owner of a residential property in Canada on December 31, you must file an Underused Housing Tax Return and Election Form (UHT-2900) for the calendar year. Even if your ownership of the property qualifies for an exemption and you do not owe any tax, you still must file a return. You may either use electronic filing, or you may file your return by mail.

      https://www.canada.ca/en/services/taxes/excise-taxes-duties-and-levies/underused-housing-tax.html

2. New keywords

   1. In the T1-Autofill keyword group, pertaining to the CRA's T1 Auto-fill my return service:

      1. T1-Autofill : CRA Auto-fill my return service

         The CRA Auto-fill my return service will provide details in DT Max T1 when too many T5008 slips are downloaded (the amount of data is too large). It must be entered manually.

      2. AFR-T5008-FileName : Name of the T5008 file name

         This keyword contains the path of the archived file.

         The file provides data for T5008 slips that could not be downloaded in T-Slip "T5008" keyword groups. It will have the .CSV extension, generally recognized by most spreadsheet software on the market. If this is the case, by clicking on the yellow button the spreadsheet software should normally open with the received data, ready to receive your calculations. It is then preferable to save any modifications or additional calculations to a file in the native format of this software (i.e., if Excel, save as an .xls file). On the other hand, if your spreadsheet software does not recognize the .CSV extension, or if you use online software, you will need to use the function that allows you to import "comma-separated data" type files (see the documentation of your spreadsheet software on this, i.e., if Google Sheets, you will need to open it and import the .csv file by clicking on File -> Import).

         You can simply enter the total amounts in DT Max that you have calculated using the spreadsheet.

      3. DataEntered-T5008 : Confirm that T5008 data has been entered?

         This keyword is used to confirm that you have entered the T5008 slips data in DT Max. The default option is "No".

DT Max T3

1. Version highlights

   1. 2023 tax brackets and rates

      All federal and provincial tax brackets have been updated in DT Max T3 for 2023. The rates are based on information available as of March 1, 2023.

      New Brunswick tax brackets and rates

      On November 1, 2022, the Government of New Brunswick announced additional reductions to the income tax rates and the elimination of the fourth income tax bracket for the 2023 and subsequent taxation years. The following brackets and rates will apply for 2023:

      Tax brackets	Rates
      Taxable income that is $47,715 or less	9.4%
      Taxable income over $47,715 up to $95,431	14%
      Taxable income over $95,431 up to $176,756	16%
      Taxable income over $176,756	19.5%

      Please refer to the DT Max knowledge base link below for additional details on the new federal and provincial tax brackets.

      Tax brackets and rates (2023)
      

   2. Saskatchewan's non-eligible dividend tax credit rate

      Saskatchewan's Bill 89, the Income Tax (Affordability) Amendment Act, 2022, which was tabled on November 2, 2022, delayed the increase of the non-eligible dividend tax credit by one year.

      The rate of the tax credit for other than eligible dividends has been revised for 2023 from 12.996% to 16.14% of the federal gross-up amount.

      Saskatchewan	2023	2024	2025
      Applicable to the federal gross-up amount of non-eligible dividends	16.14%	22.525%	25.773%
      Applicable to the grossed-up amount of non-eligible dividends	2.105%	2.938%	3.362%

   3. Invoice amount in the client list

      Prior to version 26.12, the only way to view the invoice amount was to recalculate the return and to display the invoice in the Tax return screen. In order to facilitate the follow-up of the billing, it is now possible to view the amount of the invoice in the client list. To do so:

      1. In the Automatic billing setup under Preferences, please check the new option "Include the invoice total to List-Memo4 keyword" (by default, this option is not checked.)

      2. In the Client list settings, check the keyword LIST-MEMO4 in the settings for Columns to show in the client list - T3.

      3. If this new option is checked, once the calculation is done, the total of the invoice will appear in the keyword List-Memo4 and the amount will be visible in the client list.

2. New options

   1. For the keyword Trust-Type , within the Trust group, pertaining to the code number and trust type required on the T3 Trust Income Tax and Information Return:

      Bare Trust (code 307)

      Under the new trust reporting rules included in Bill C-32, bare trusts will be required to file an annual T3 tax return for tax years ending after December 30, 2023.

      A bare trust is a trust in which the trustee can be considered to act as agent for the beneficiary and has no significant powers or responsibilities. The legal title of the trust property is held by the trustee, but the beneficiary has complete control over the trustee's action as it pertains to this property.

      The new reporting requirements only change the reporting obligation of bare trusts and not the tax treatment. Generally, all the income and capital gains from the trust are reported on the beneficiary's tax return and not taxed in the trust.

   2. For the keyword Income.bus , within the Business group, pertaining to farming businesses:

      T5013 Box 237, Return of fuel charge proc. to farmers cr.

DT Max T5013

1. Known issues fixed in version 26.12

   1. Rental schedule

      In some cases, CCA was not limited to rental income. This issue has been fixed in this version of DT Max.

   2. CO-130.AD - Capital Cost Allowance for Immediate Expensing Property

      In some cases, column D, DIEP proceeds of disposition, in Part 3 was not displaying the correct amount. This issue has also been fixed in this version.

2. New options

   1. For keyword Asset-Code , pertaining to federal Schedule 8, Additional information regarding CCA Class 43.1 and Class 43.2 - Supplement:

      25 Pumped hydroelectric energy storage
      26 Solid biofuel production systems
      27 Equipment to prod. hydrogen by electrolysis of water
      28 Hydrogen refuelling equipment
      29 Air-source heat pump systems