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Print this pageForward this document  What's new for T1/T2 version 7.30?

DT Max version 7.30 features the T1/TP1 program for tax years 1996 to 2003 as well as the 2004 tax planner, and it fully supports T1 efile.

V7.30 also includes the T2 program for fiscal periods ending from 1994 to 2004 and fully supports corporation Internet filing and Ontario CT23 D-File.

In this edition

System change

    The Keyword help index (F8) has been enhanced to make the display of secondary keywords optional.

DT Max T1

    Known issues fixed in v7.30

    Program highlights

    • Federal and provincial personal income tax forms have been updated to reflect the majority of the 2004 budget changes. However, these forms are NOT approved by the government and should only be used for planning purposes.

    • The child tax benefit as well as the GST/HST and the QST credits have been added to the planning summary.

    • The 2004 calculations can be submitted to the government in the cases of returns for deceased or bankrupt taxpayers only. DT Max calculations will reflect the 2004 amounts but will be printed on 2003 forms, in accordance with government specifications.

      Note that while the federal government requires the authorization number to be printed on the tax forms for these returns, the MRQ does not want the authorization number to appear for the current year. You should contact the MRQ if any returns for bankrupt or deceased taxpayers have been rejected for 2004 due to the absence of an authorization number.

      Since DT Max is not currently certified for 2004 tax returns, Quebec schedule TPF-1.U titled Income tax return data will not be generated for the returns of deceased or bankrupt taxpayers, in compliance with MRQ requirements.

    • The Tax return tab, in the user's defaults, now features the option for Quebec residents to Grant power of attorney (Quebec MR-69).

    • The new federal and provincial tax brackets and rates, the new non refundable tax credits, and the 2004 budget changes are summarized in the following documents:

    New keywords

    • The keyword Return-Type has been added to the StatusChange group for the returns of deceased taxpayers. It enables you to select the type of return to be filed.

      Once the relevant type of return is selected, DT Max will specify the corresponding tax provision in the top right-hand corner of the first page of the return: 

                                                        Federal   Quebec
Final return                                    blank     blank
Return for income from rights or things         70(2)     429
Return for income of a partner or proprietor    150(4)    681
Return for income from a testamentary trust     104(23)d) 1003

    • The keyword Address.rep was added to the Authorize group to enable you to select the address of the firm to be printed on the authorization form. By default, DT Max will use the address that appears on the federal tax return and the client letter.

DT Max T2

Please note that T2 version 7.30 is essentially the same as the recent v7.25 release. Since it features the same additions and improvements, the 7.25 update notes are repeated below for your convenience.

Note however that T2 version 7.30 does feature certain enhancements to the GIFI editor. They address issues encountered in v7.25, namely a rounding up problem with the importation of the GIFI file and a freezing problem with GIFI data entry.

    Known issues fixed in v7.25

    New features

    • Improvements have been made to the GIFI data entry. You now have the option to display all GIFI totals (shown in bold) that are automatically updated as each GIFI item is entered. This feature is not enabled by default; it can be activated by selecting Show automatically calculated GIFI totals in the editor, under the User interface option of the Preferences menu. Any GIFI total overridden by the user will be flagged by DT Max and identified by the override icon (a pencil).

    • DT Max now remembers the clients you most recently worked with. The names of the last 12 corporations (T2) or individuals (T1) are shown on the end of the File menu. Simply click a name to jump directly to that particular client.

    Program certification

      Federal

      DT Max is fully certified for both RSI's and corporate Internet filing under the CRA's new specifications. Users can file returns with year-ends up to October 31, 2004.

      The corporate Internet filing system has recently been modified by the CRA to accept either a Web access code or an EFILE Online number and password. Tax preparers who currently transmit personal returns may therefore use the same number and password to transmit their corporate returns.

      Ontario

      DT Max is also certified under the new specifications of the Ontario Ministry of Finance with respect to the 2003 CT23 (short and long forms).

    New keywords

    • Use the keyword Accountant in the GIFI group to indicate the type of accounting involved in the preparation of the corporation's financial statements and whether they are connected with the corporation.

    • Use the keyword Discontinuance in the CorpType group to indicate whether a certificate of discontinuance was issued to the non-resident corporation incorporated in Canada, for purposes of schedule 97.

    • Use the keyword NR-Income in the CorpType group to identify the situation of the non-resident corporation depending on the Canadian income earned, for purposes of schedule 97.

    • Use the keyword DIRECT-EQUITY to open a group to enter information relating to the Newfoundland and Labrador direct equity tax credit.

    Federal forms

      New
      Schedule 97 - Additional information on non-resident corporations in Canada
      Schedule 303 - Newfoundland and Labrador direct equity tax credit
      Updated / Revised
      Schedule 33 - Part I.3 tax on large corporations
      Schedule 34 - Part I.3 tax on financial institutions
      Schedule 35 - Part I.3 tax on large insurance corporations
      Schedule 36 - Agreement among related corporations - Part I.3 tax
      Schedule 38 - Part VI tax on capital of financial institutions
      Schedule 141 - Notes checklist
      Schedule 422 - British Columbia film and television tax credit (now available in French)
      Schedule 423 - British Columbia production services tax credit (now available in French)
      Obsolete
      Schedule 40 - Agreement among related life insurance corporations

    Ontario forms

      Updated / Revised
      2003 CT23 Short-form corporations tax and annual return
      2003 CT23 Corporations tax and annual return
      Schedule 17 - Additional deduction for credit unions
      Schedule 161 - Ontario scientific research and experimental development expenditures

    Quebec forms

      New in-house form
      CO-17.A.1 supplementary - Calculation of the non-deductible meals and entertainment deduction

      This form (NOT to be filed with the corporate income tax return) shows the detailed calculation of the non-deductible portion of meals and entertainment expenses.

      The changes introduced in the Quebec budget of March 30, 2004, with respect to the meals and entertainment expenses have been implemented in this version of DT Max (7.25).

      Updated / Revised
      RD-1029.8.10-V - Tax credit for pre-competitive research
      RD-1029.8.9.03-V - Tax credit for fees and dues paid to a research consortium

    Reminders

      Overrides

      Please keep in mind that as a general rule, you should not use overrides unless otherwise instructed by a software support technician or a DT Max help document (e.g. FAQ).

      Carryforwards

      As always, we strongly recommend that you verify your carryforwards carefully before processing client files.

June 16, 2004