  What's new for T2 Internet version 12.25? |
DT Max version 12.25 includes the T2 program for fiscal periods ending from 1994 to 2009 and fully supports corporation Internet filing (T2 and CO-17).
In this version...
DT Max T2
Program certification
Federal:
For DT Max T2 version 12.25, the federal barcodes and the Corporation Internet
Filing module have received full CRA certification valid for taxation years
ending up to October 31, 2009 under the DT19 stamp.
Please note that from this version onward, for tax years ending after December
31, 2008, corporations are no longer required to file federal RSIs (Return
and Schedule Information) when filing returns in paper form, as they are now
obsolete. In its place, a new format of the bar code sheet titled T2 Bar
Code Return (T2 BCR) has been developed and will be generated when paper
filing. The blue error messages in DT Max's data editor will also reflect
that change.
Message from the CRA:
Since the RSIs are no longer part of the T2 return, please be advised that
if you must file an amended tax return for reassessment, you will be required
to file the client copies (facsimile forms) along with the supporting information.
Registered charities:
For registered charities who are filing their returns in paper format, DT
Max has obtained approval from the CRA for the federal T3010B - Registered
Charity Information Return form, which now replaces the T3010A (05), for
tax years ending after 2008. Please note that the bar code page T3010B
- Return and Appendix Information will be generated in addition to the
form, as per the new requirement from the CRA.
Alberta:
Alberta Finance has granted DT Max a new certification for this version, also
labeled DT19.
Version highlights
New feature: importation of related party tax information
Starting with version 12.25, you can now automatically import the tax information
of a client's related party by selecting the option ''Yes'' in the new keyword
DTMax-ImportClient . You will then be prompted to enter the client number
of the related party that you wish to import.
If you changed information or entered new information in the related corporation's
file and must re-import these updated data into your client's file, you must
re-select the option ''Yes''. This will update all keywords in the RelatedParty
group unless they have been verified and checkmarked
(using the "=" sign on your keyboard).
A checkmarked keyword
guarantees that the information will remain unchanged.
Likewise, you can also checkmark the keywords in the NetIncome , TaxOnCapital
and GIFI groups, regarding the information that you wish to leave unchanged
following a recalculation.
New feature: customized keywords for registered charities
By ticking the new option ''Tick if client is a registered charity'', in the
window that appears when you select ''New client'' under the ''File'' tab,
only the pertinent keywords relating to registered charities (i.e. the keywords
required to complete form T3010B (as well as the TP-985.22 – Information
Return – Registered Charities, Registered Museums, etc. for Quebec-based
registered charities)) will appear for all newly created clients. As for existing
clients' files, all the keywords not pertaining to charities that were used
in the previous versions will be flagged with a warning sign in the data entry
section of DT Max. These keywords may be deleted if not relevant.
As a further improvement, DT Max now generates only the forms that apply to
registered charities.
Integration of the increase in the Quebec small business limit
The increase in the Quebec small business limit from $ 400,000 to $ 500,000,
which was announced on the day of the Budget Speech and took effect as of the
following day, March 20, 2009, has been integrated in this new version of DT
Max. However, please note that where the taxation year of a corporation includes
the day of the Budget Speech, the increase in the business limit applies in
proportion to the number of days of such taxation year that follow that day.
Required entry for keyword TaxOnCapital
From this version onward, users of DT Max are now required to enter ''Yes''
or ''No'' for keyword TaxOnCapital , in order to generate (or not) the appropriate
forms for tax on capital. Failure to do so will result in an error message when
calculating.
Known issue fixed in version 12.25
New forms
Federal:
- Schedule 388 - Manitoba Film and Video Production Tax Credit
- T1259 - Capital Gains and Disbursement Quota Worksheet
Quebec:
- CO-1029.8.36.SP - Crédit d'impôt pour des services de production
cinématographique (Tax Credit for Film Production Services)
- CO-1029.8.36.EL - Crédit d'impôt pour l'édition de
livres (Tax Credit for Book Publishing)
Alberta:
- AT1 Schedule 9 - Alberta Scientific Research & Experimental Development
(SR&ED) Tax Credit
Revised forms
Federal:
- Schedule 200 - T2 Corporation Income Tax Return
- T2 BCR - Bar Code Return
- Schedule 20 - Part XIV - Additional Tax on Non-Resident Corporations
- Schedule 366 - New Brunswick Corporation Tax Calculation
- Schedule 389 - Manitoba Book Publishing Tax Credit
- Schedule 425 - British Columbia (BC) Scientific Research and Experimental
Development Tax Credit
- T3010B - Registered Charity Information Return
Quebec:
- CO-1029.8.36.EM - Refundable Tax Credit
- CO-1029.8.36.IN - Tax Credit for Investment
- CO-1029.8.36.RV - Tax Credit for Job Creation in a Designated Region
- CO-1136 - Calculation of Paid-Up Capital
- CO-1136.CS - Paid-Up Capital for Purposes of Calculating the Income
Tax of Certain Corporations
Alberta:
- AT1 - Alberta Corporate Income Tax Return
- AT1 Schedule 1 - Alberta Small Business Deduction
- AT1 Schedule 16 - Alberta Scientific Research Expenditures
- Alberta Consent Form
Deleted form
Federal:
- Schedule 382 - Additional Certificate Numbers for the Manitoba Film and
Video Production Tax Credit
Revised keywords
In the Address group:
HomePage : Web address of corporation
Use the keyword HomePage to enter the corporation's web address for
purposes of federal Registered charity information return (T3010B).
In the CharityReturn group:
Linkage : Whether charity is linked with provincial, national or international
organization
Use the keyword Linkage to indicate whether or not the registered charity
has its own governing documents but is, at least in some aspects, subordinate
to another organization.
Also, use this keyword to indicate whether or not the registered charity
is an internal division, that is, an internal branch, section, or other
division of another registered charity.
New keywords
In the CharityReturn group:
a) CIDA-Funds : Total amount of CIDA funds expended
Use the keyword CIDA-Funds to enter the total amount of funds expended
if any of the charity's projects undertaken outside Canada are funded by the
Canadian International Development Agency.
b) Shares : Whether foundation owns more than 2% of any class of shares
Use the keyword Shares to indicate whether or not the foundation owns
more than 2% of any class of shares of a corporation at any time in tax year.
If "yes", attach form T2081 - Excess Corporate Holdings Worksheet
for Private Corporations.
c) Start-Date.d : Start date of director/trustee or like official
Use the keyword Start-Date.d to enter the start date of director/trustee
or like official term.
d) End-Date.d : End date of director/trustee or like official
Use the keyword End-Date.d to enter the end date of director/trustee
or like official term.
e) CHECKLIST.C : T3010B checklist items applicable to charity
Use the keyword CHECKLIST.C to select T3010B checklist items applicable
to charity.
f) Arrangement : Whether charity's resources were under any kind of arrangement
Use the keyword Arrangement to indicate whether any of the charity's
resources were provided for programs outside Canada under any kind of arrangement
including a contract, agency agreement, or joint venture to any other individual
or entity.
g) Name-Transferee : Name of individual or organization
Use the keyword Name-Transferee to enter the name of the transferee who
is either an individual or organization whereby expenditures on activities/programs/projects
carried on outside Canada were transfered.
h) Country.ch : Country where activities were carried on
Use the keyword Country.ch to identify the country where the charity
itself carried on programs or provided any of its resources.
i) Amt-Transfer : Amount transferred to individual/organization
Use the keyword Amt-Transfer to enter the amount transferred to individual
or organization.
j) Export-Goods : Whether charity is involved in exporting activities
Use the keyword Export-Goods to indicate whether or not the charity's
programs include exporting goods outside Canada.
k) Item.c : Item exported
Use the keyword Item.c to indicate the item being exported.
l) Value : Value of item being exported
Use the keyword Value to indicate value of the item being exported.
m) Destination : Destination (city or region) where item being exported
Use the keyword Destination to indicate the city or region where item
being exported.
n) Country.ex : Country where item is being exported
Use the keyword Country.ex to indicate the country where item being exported.
o) POLITICAL-AMT : Amount spent by charity on political activities
Use the keyword POLITICAL-AMT to enter the total amount of resources spent
by the charity on political activities during the fiscal period.
p) Fund-Pymt-Meth : Method of payment to the fundraiser
Use the keyword Fund-Pymt-Meth to enter the method of payment to the fundraiser.
q) Tax-Receipts : Whether the fundraiser issued tax receipts on behalf
of charity
Use the keyword Tax-Receipts to indicate whether or not the fundraiser
issued tax receipts on behalf of charity.
r) Name-Fundraiser : Name and arm's length status of external fundraiser
Use the keyword Name-Fundraiser to enter the name and arm's length status
of the external fundraiser.
s) NR-Donor : Name of non-resident donor
Use the keyword NR-Donor to enter the name of the donor that was not resident
in Canada and made a donation of $10,000 or more.
t) Don-Amt&Type : Amount of donation and type of donor
Use the keyword Don-Amt&Type to enter the value of the donation and
whether the donor is an organization, a government, or an individual.
u) Property-Used : Whether donor used any of charity's property
Use the keyword Property-Used to indicate whether or not the charity allowed
the donor to use any of the charity's property during the fiscal period.
v) Oth-TaxReceipts : Whether charity issued tax receipts on behalf of
another corporation
Use the keyword Oth-TaxReceipts to indicate whether or not the charity
issued tax receipts for donations on behalf of another corporation.
w) City.ch : City where establishment of qualified donee is located
Use the keyword City.ch to enter the city where the qualified donee is
located.
x) Province.ch : Province where establishment of qualified donee is located
Use the keyword Province.ch to enter the province where the qualified
donee is located.
y) Initial.d : Initial of director/trustee or like official
Use the keyword Initial.d to enter the initial of the director/trustee
or like official.
In the Jurisdiction keyword, when selecting the option ''Alberta'':
BUS-ID-NUM : Alberta business identification number (BIN)
TRACS - Tax and Revenue Administration Client Self-Service - is designed
for Alberta Finance and Enterprise, Tax and Revenue Administration's (TRA)
taxpayers, claimants and filers. It is a secure online system that provides
an alternative for authorized individuals to conduct business with TRA.
TRACS enables businesses to self-manage access to their accounts. The business
owner, or individual authorized by the business owner, may grant additional
account access to tax-preparers and/or other employees, as required.
An account number is necessary for enrolling into TRACS. It links you to
the account that you wish to access. The account number is your Alberta Business
Identification Number (BIN) unless otherwise indicated.
Use the keyword BUS-ID-NUM to enter the Alberta business identification
number.
In the SR&ED group:
a) Assist-ITC.r : SR&ED assistance for ITC purposes received (+) or
repaid (-)
Use Assist-ITC.r to enter SR&ED assistance for current and capital
expenditures for ITC purposes. Enter amounts received as a positive and amounts
repaid as a negative. These amounts will be deducted from or added to the
current and capital SR&ED expenditures by DT Max for investment tax credit
purposes.
b) Juris-R&D : Jurisdiction(s) where federal qualified expenditures
(line 559 of federal T661) were incurred
Use the keyword Juris-R&D to indicate the jurisdiction(s) where federal
qualified expenditures (line 559 of federal T661) were incurred.
In the Jurisdiction group:
Funct-Currency : Functional currency used, if other than Canadian
A federal decision to adopt functional currency reporting for tax purposes,
allowing functional currency reporting for corporate income tax filings is
expected to ease compliance and promote more representative financial reporting.
Use the keyword Funct-Currency to state the functional currency used,
if other than Canadian.
In the Cred-Film group:
a) Rate-Credit : Rate of credit specified on Certificate
Use the keyword Rate-Credit to enter the rate of credit specified on the
Advance Certificate of Eligibility or the Certificate of Completion.
b) EligLabour-% : Percentage of eligible hours specified on Certificate
Use the keyword EligLabour-% to enter the percentage of eligible hours
specified on the Advance Certificate of Eligibility or the Certificate of Completion
for purposes of the frequent filming bonus tax credit.
c) Rate-LabourCap : Rate of deemed labour cap specified on Certificate
Use the keyword Rate-LabourCap to enter the rate of the deemed labour
cap that is specified on the Certificate of Completion.
d) Wages-Employees : Eligible salaries of Manitoba employees
Use the keyword Wages-Employees to enter the eligible salaries of actual
deemed residents and residents of Manitoba.
e) SPECIALTAXFACTOR : Period qualified exp. was incurred for special tax
purposes
If the amount of special tax is related to a qualified labour expenditure
incurred
- before December 31, 2004, DT Max will use a factor of 11 ;
- after December 31, 2004 and before December 21, 2007,
DT Max will use a factor of 20 ;
- after December 20, 2007, DT Max will use a factor of 25.
This information is for purposes of line 38 on Quebec form CO-1029.8.36.SP.
In the RelatedParty group:
a) DTMax-ImportClient : Import related party from current DT Max client
list
Use DTMax-ImportClient to indicate whether or not DT Max should automatically
import information concerning a related party from the current DT Max client
list.
If yes, you will be prompted to enter the client number of the related party
you wish to import.
If you choose to re-import the related corporation, you must re-select the
option "yes". This will update all keywords in the RelatedParty group unless
they have been verified and checkmarked. A checkmarked keyword guarantees
that the information will remain unchanged.
b) DTMax-ClientNum : Automatic input of client number and date last calculated
DT Max will automatically input the client number of the related party as
well as the date and time it was last calculated in the keyword DTMAX-CLIENTNUM.
c) State-Id : State of party
The state of the party whose name is entered in RelatedParty will print
on all schedules where this information is requested. Only the name of this
party then needs to be entered in the relevant keyword group to which the
party relates.
d) ZIPCode-Id : U.S.A zip code of party
The zip code of the party whose name is entered in RelatedParty will print
on all schedules where this information is requested. Only the name of this
party then needs to be entered in the relevant keyword group to which the
party relates.
e) For-Post-Id : Foreign postal code of party
The foreign postal code of the party whose name is entered in RelatedParty
will print on all schedules where this information is requested. Only the
name of this party then needs to be entered in the relevant keyword group
to which the party relates.
f) AB-Expendlim : Alberta expenditure limit (SR&ED) alloc to assoc
corp
Based on the AB-Expendlim entered, DT Max will calculate this corporation's
expenditure limit for purposes of the SR&EDtax credit.
In the Book-Publish group:
a) Cost.b : Printing costs or preparation costs for the year
Use the keyword Cost.b to enter the printing costs or the preparation
costs for the year.
b) Assistance.b : Amount of assistance received
Use the keyword Assistance.b to enter the amount of assistance received.
c) Salaries.b : Salaries or wages paid
Use the keyword Salaries.b to enter the salaries and wages paid.
d) Remuneration.b : Other remuneration directly attributable to costs
Use the keyword Remuneration.b to enter amounts for other remuneration
directly attributable to the costs.
e) Repayment.b : Amount and type of repayment
Use the keyword Repayment.b to enter the amount and type of repayment.
f) Prev-Yr-Info.b : Information about previous years
Use the keyword Prev-Yr-Info.b to enter the information pertaining to
previous years.
g) Advances : Non-refundable advances paid to a Quebec author
Use the keyword Advances to enter the non-refundable advances paid to
a Quebec author.
h) #Literary-Works : Number of literary works
Use the keyword #Literary-Works to enter the number of literary works.
i) Book-Expenses : Labour expenditures attributable to preparation costs
or to printing costs
Use the keyword Book-Expenses to enter information relating to labour
expenditures attributable to preparation costs or to printing costs.
j) Share-BookExp : Corporation's share in the publishing costs related
to the preparation and the printing of the work
If the work, or the work from a group of works, has been published jointly
with one or several qualified corporations, enter, in percentage, the corporation's
share in the publishing costs related to the preparation and the printing
of the work, or the work from a group of works.
In the T2-Adjust group:
YearEnd-Adj : Date of fiscal year end for which the request was made
Use the keyword YearEnd-Adj to enter the date of fiscal year-end for which
the request was made.
DT Max will automatically default to the current tax year-end if this keyword
has not been used.
In the SR&EDProject group:
AB-R&DProject : SR & ED projects claimed in Alberta
Use the keyword AB-R&DProject to enter information relating to SR&ED
projects claimed in Alberta.
In the CorpHistory group:
SR&ED.his : SR&ED historical information
Use the keyword SR&ED.his to enter SR&ED historical information
requested on Alberta schedule 9 in order to calculate SR&ED tax credit.
In the Recapture group:
Amount.r : Recapture amount of SR&ED tax credit
Use the keyword Amount.r to enter the amount of recapture of the Alberta
SR&ED tax credit.
The credit will appear on Alberta schedule 9.
Deleted keywords
In the Consent group:
Fax.c : Fax number of representative
In the CharityReturn group:
LOCATION.C : Location of the qualified donee (city, province, country)
In the Branch-Tax keyword:
BASE-DED : Deductions from base amount
New options
For keyword Assets.c :
Land/buildings in Canada
Land/buildings outside Canada
Capital assets outside Canada
Accumulated amortization
For keyword Method.c :
Volunteers of charity
For keyword Fundraising :
Internet
For keyword NonCashGifts :
Medical equipment/supplies
Books
For keyword Compensation :
$160,000 - $199,999
$200,000 - $249,999
$250,000 - $299,999
$300,000 - $349,999
$350,000 and over
For keyword Revenue.c :
Revenue from outside Canada
For keyword Expenditures.c :
Donated goods
For keyword Amount-Gifts :
Amount of enduring property
Amount of gifts-in-kind
For new keyword Fund-Pymt-Meth :
Commissions
Bonuses
Finder's fees
Set fee for services
Honoraria
Other
For new keyword CHECKLIST.C :
Form TF725 information is accurate
Form TF725 attached with return
Financial statements attached with return
For new keyword Don-Amt&Type :
Organization
Government
Individual
For keyword Account :
All files at the CRA, RQ and AB TRA (revised)
All files at Alberta TRA
Tourism Levy (Alberta)
International fuel tax agreement (Alberta)
Tax exempt fuel users (Alberta)
Prescribed rebate offroad percentages
For keyword Credit-Types :
Basic tax credit
Frequent filming bonus tax credit
Rural bonus tax credit
Producer bonus tax credit
For keyword Labour-Exp.f :
Qualified labour expenditures - Manitoba
For keyword Wages-Employees :
Elig. salaries of deemed residents of MB (all prod. yrs)
Elig. salaries of MB residents (all prod. yrs)
For keyword Production-Date :
Date production completed
For keyword Cred-Film :
Quebec production services
For keyword Repayment :
Expense parent received by wholly-owned subsid.
For keyword Repayment.b :
Assist., benefit or advantage - preparation costs
Assist., benefit or advantage - printing costs
For keyword Labour-Exp.f :
Qualified labour expenditures (Quebec)
Qual. exp. for special effects & animation (Quebec)
For keyword Ruling :
Eligible production
Eligible low budget production
For keyword SPECIALTAXFACTOR :
Before December 31, 2004 (Factor 11)
After Dec. 31, 2004 & before Dec. 21, 2007 (Factor 20)
After December 20, 2007 (Factor 25)
For keyword Assistance.b :
Assistance, benefit or advantage - advances
Assist., benefit or adv. - 3rd pty dealing at arm's length
Assistance, benefit or advantage - cost
For keyword Remuneration.b :
Remuneration paid to a 3rd party dealing at arm's length
For keyword Prev-Yr-Info.b :
Preparation costs - previous years
Qual. preparation costs - previous years
Cumulated preparation costs - previous year
Printing costs - previous years
Qual. printing costs - previous years
Cumulated printing costs - previous year
For keyword Book-Publish :
Quebec book publishing tax credit
For keyword Book-Expenses :
Preparation costs
Printing costs
For keyword Recapture :
Alberta SR&ED credit
For new keyword SR&ED.his :
Alberta SR&ED expenses (line 31 - AT1 Sch. 9)
For keyword Juris-R&D :
AB portion of fed. repayment of assistance
AB portion of federal qualified SR&ED exp.
BC portion of federal qualified SR&ED exp.
MB portion of federal qualified SR&ED exp.
Etc.
For keyword AB-R&DProject :
AB portion of fed. qual. SR&ED exp. (before AB credit)
Portion of fed. qual. SR&ED incurred outside AB
AB portion of SR&ED salaries/wages
Fed. prescribed proxy amount
AB proxy amount
May 28, 2009
|