  What's new for T1/T2/T3 version 8.30? |
DT Max version 8.30 features the T1/TP1 program for tax years 1996 to 2004
as well as the 2005 tax planner, and it fully supports T1 efile.
V8.30 also includes the T2 program for fiscal periods ending
from 1994 to 2005 and fully supports corporation Internet filing and
Ontario CT23 D-File.
Finally, v8.30 also features the T3/TP-646 program for fiscal periods ending from 2003 to 2005 inclusively.
In this edition...
System changes
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Page selection index
A new feature has been implemented on the tax return screen. Users now
have the option to always show the page selection index on the left-hand
side.
Typically the DT Max program will default to the method Always show
index at side. If you wish to change the method, go to the
Preferences menu and select the option User interface. In the Tax return
section, you will be provided with the following methods for selecting pages:
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Always show index at side
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Show index at side - auto-hide after selecting the page (recommended with a 600X800 screen resolution)
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Use pop-up mode to select pages - do not show index at side
Install program
Certain changes have been made to the DT Max install procedure in order to
simplify the update process. The presentation of the installation program
has also been refreshed.
DT Max T1
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Program highlights
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2005 tax changes
The new federal and provincial tax brackets and rates, the new non refundable
tax credits, and the 2005 budget changes are summarized in the following
documents:
2005 tax forms
Federal and provincial personal income tax forms have been updated to reflect
the majority of the 2005 budget changes. However, these forms are NOT approved
by the government and should only be used for planning purposes.
Simplified tax system
The Quebec simplified tax system has been abolished.
In order to retain the benefits of the lump sum that this system offered,
the complementary amount of $2,965 is still granted. Starting in 2005, the calculation
of non refundable tax credits must include the higher of the following:
the lump sum of $2,965, or the total of
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the contributions to the QPP/CPP
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the employment insurance premiums
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the contributions to the Health Services Fund
Exempt gain balance
Year 2004 was the last year for claiming the exempt gain balance. Any remaining
balance should be included in the ACB (adjusted cost base). A warning to that
effect has been added in the data entry screen.
Quebec Schedule N - Adjustment of investment expenses
During the 2004 tax season, we informed DT Max users of the publication of
Information Bulletin 2005-03 on March 11, 2005, respecting changes
to the limit to the deductibility of investment expenses. These changes were
to have an impact on the adjustment of investment expenses on schedule N for
2004.
The changes were as follows:
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Change to the notion of investment expenses
Flow-through shares issued either after a placement made no later than the
publication date of this information bulletin or following an application for a
preliminary prospectus certificate or prospectus exemption, as the case may
be, filed no later than such date, will not be covered by the rules relating
to the limitation on the deductibility of investment expenses.
Change to the notion of investment income
Investment income will include taxable net
capital gains attributed by a trust to a beneficiary of such trust that are
not otherwise taxable capital gains eligible for the capital gains exemption.
Second, the notion of investment income will be changed to include the
taxable portion of capital gains eligible for the capital gain exemption that
exceed the $500 000 threshold.
In the course of the tax season, the MRQ issued the following instructions:
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In view of the late publication of the Bulletin, the obvious repercussions
involved in modifying processing systems during the rush period, and upcoming
details on the implementation of the measures, the Minister of Revenue has
opted not to take any steps for the time being and asked all software developers
wait before implementing the changes.
Any tax returns affected by the new measures will be retrieved after the
rush period, and any necessary corrections will be made at that time.
Please note that the 2004 tax calculations have now been updated in DT Max T1
to incorporate the changes mentioned in Information Bulletin 2005-03
of March 11, 2005.
Client letter
You can now include your own signature in the DT Max client letter.
Click here to find out how.
Keywords
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The T2200 keyword group has been redesigned to simplify data entry for
form T2200 (Declaration of conditions of employment) and form TP-64.3
(General employment conditions).
Two new options have been added to the Bankruptcy keyword group, namely the
Pre-proposals return and Post-proposals return. These types of
returns are completed using the same calculations as the pre-bankruptcy and
post-bankruptcy returns.
The employer certification required for purposes of form T626 (Overseas employment tax credit)
can now be filled out when the option Foreign - employment is selected within the
Foreign-Inc keyword group.
In order to simplify the way to specify an apartment or suite number, the new keyword
Apartment has been added to the address of both a taxpayer and a business respectively.
All apartment and suite numbers previously entered in the Street keyword will automatically
be converted to the new Apartment keyword.
Forms
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When a taxpayer did not need to file a tax return, DT Max used to generate a
warning to that effect on the tax return display screen. This warning has been replaced
with an in-house schedule listing the basic requirements for filing a tax return.
New blank forms have been added to the library of DT Max forms. Please note that
these new blank forms are
not yet supported by the calculation module.
New federal blank forms:
NR7-R Application for refund of non-resident Part XIII tax withheld
RC72 Notice of the actual amount of the refund of tax
TX19 Asking for a clearance certificate
T746 Calculating your deduction for refund of unused RRSP contributions
T1132 Alternative address authorization
T1134-A Information return relating to foreign affiliates that are not controlled foreign affiliates
T1134-B Information return relating to controlled foreign affiliates
T1157 Election for child support payments
T1158 Registration of family support payments
T1162A-1 Pre-authorized payment plan (personal quarterly instalment payments)
T1223 Clergy residence deduction
T1243 Deemed disposition of property by an emigrant of Canada
T2205 Amounts from a spousal or common-law partner RRSP or RRIF to include in income
New provincial blank forms:
T81(IND) British Columbia royalty and deemed income rebate
T82 Saskatchewan Royalty tax rebate
T88 British Columbia mining exploration tax credit
T1129 Newfoundland and Labrador research and development tax credit
T1199 Yukon mineral exploration tax credit
T1232 Yukon research and development tax credit
New Quebec blank forms:
TP-76 Deduction for a member of the clergy or a religious order
TP-160 Interest paid on a loan
TP-223 NETFILE Quebec registration form
TP-312 Election concerning child support
TP-785.2 Election with respect to the disposition of taxable Canadian property
TP-1029.8.33.6 Tax credit for an on-the-job training period
TP-1029.8.33.13 Tax credit with respect to the reporting of tips
DT Max T2
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Program highlights
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GIFI
In the data entry screen, a new message type has been added in the error
and warning message box. The symbol
signifies
that a GIFI error has been detected with respect to the data entered. Such
GIFI errors must be fixed in order to paper file the federal RSI's or efile
the federal or Quebec return.
In addition, a new GIFI table has been added on the Notes and diagnostics
page to account for any GIFI errors and warnings that are present.
Quebec CO-17 corporate efile
DT Tax and Accounting has been working with the MRQ to implement electronic filing of the Quebec
CO-17 corporate tax return, and DT Max has been certified by the MRQ for
CO-17 efile. Once this service is fully operational, it will represent one
more step on the path to streamlining the process of filing tax returns
electronically and reducing paperwork.
CO-17 efile features have been implemented in this version of DT Max for activation
when the MRQ's own CO-17 efile service becomes available for general use. Once the
MRQ's service is fully functional, a DT Max update with CO-17 efile enabled will
be available for download from our Web site. Until that update is released, you will
not be able to efile Quebec CO-17 returns.
In the meantime, we suggest that users who prepare CO-17 returns register with the MRQ's
Clic Revenu service.
This service was set up to give business owners and tax preparers secure access
to their tax information on the Web. Clic Revenu registration will be mandatory
for any business wishing to electronically file their CO-17 return. For additional
information, you may refer to our knowledge base document titled
Quebec CO-17 efiling via Clic Revenu.
Quebec NEQ number
The Quebec enterprise number (NEQ) is a 10-digit number assigned to
businesses that register with the Registraire des enterprises.
Changes have been made to the keyword NEQ within the Jurisdiction
group in DT Max. An entry in the NEQ keyword is no longer mandatory in this
version. Also, a MOD10 check has been implemented for the NEQ keyword to
ensure that the number entered is valid. If an invalid number has been entered in
this version, DT Max will prompt you to enter a valid one. If an invalid
number had been entered in a prior version, DT Max will generate an
error that is shown in the error and warning message box, in the data entry
screen.
New keywords
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Use the keyword Trust-Number within the CAIS group to enter the
participant's trust number if filing as a communal organization.
Use the keyword NEW-CONTACT within the CAIS group to indicate whether or not
the contact person has changed from the previous taxation year.
The keyword Efile-Quebec enables you to control the efiling of a client's
Quebec income tax return. It also allows you to override the client's Quebec
efile setup.
Use the keyword QcEfile-Attach to identify the file being attached to the
corporation's Quebec return as a supporting document. Such a file must be
in .jpg, .gif or .pdf format.
Upon completion of an efile session, DT Max will automatically enter any
results in the keyword QcEFile-Result.
DT Max will automatically enter any Quebec efile error codes in the keyword
Error-Code within the QcEFile-Result group.
Federal forms
Reminder
DT Max T3
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Program highlights
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Billing
A detailed invoice may be generated easily by using DT Max's
automatic billing setup, which is accessible in the Preferences menu.
This feature enables you to set up a rate card. DT Max will use this
rate card to create a detailed customized bill for each client. In this way,
the billing setup provides an effective way to generate a detailed, customized
invoice automatically.
If the automatic billing setup is not used, you may enter the keyword Bill
followed by the proper amount to have DT Max print an invoice to send
to your client for tax preparation services.
DT Max will produce a standard invoice for tax preparation services
using the amount specified. If you wish to produce a more detailed
account, repeat the Bill keyword giving the amount and description
for each entry. DT Max will produce a detailed invoice with the different
amounts and descriptions, and the total. This will allow you to customize
your invoices to some degree.
Keywords
New forms
Reminder
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2004 trust returns may be recalculated with this version in order to have
both the capital and non capital gains and losses carried forward to 2005.
As always, we strongly recommend that you verify your carryforwards carefully
before processing client files.
July 4, 2005
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