DT Max version 12.50 includes the T2 program for fiscal periods ending from 1994 to 2010 and fully supports Corporation Internet Filing (T2 and CO-17). In this version...DT Max T2
Known issues and other FAQ's Version highlights
b) Returns from corporations involved in SR&ED now accepted for Corporation Internet Filing c) Two revised federal schedules for SR&ED accepted for Corporation Internet Filing d) Corporations with gross revenue of more that $1 M required to file their return electronically e) QuickTrack feature now implemented for T2 program Revised forms Deleted forms New keywords Deleted keywords New Options Program certification
For DT Max T2 version 12.50, the federal barcodes and the Corporation Internet Filing module have received full CRA certification valid for taxation years ending up to April 30, 2010 under the DT20 stamp.
Quebec: Known issues and other FAQ'sVersion highlights
Assembly instructions are now available and will be automatically generated by DT Max (in the "Tax return" section) for corporations and registered charities that are filing returns either in paper form or electronically. These instructions will apply to corporations filing returns for the federal as well as for Quebec, Alberta, Manitoba and Saskatchewan. Assembly instructions pertaining to registered charities will be generated along with the federal T3010B, as well as the Quebec TP-985.22 form if applicable.
b) Returns from corporations involved in SR&ED now accepted for Corporation
Internet Filing
c) Two revised federal schedules for SR&ED accepted for Corporation Internet
Filing
d) Corporations with gross revenue of more than $1 M required to file their
return electronically To use the Corporation Internet Filing service, a corporation must: A corporation cannot use Corporation Internet Filing to send: A corporation cannot use Corporation Internet Filing to change the corporation's:
As we mentioned earlier, corporations who are eligible for Corporation Internet Filing with gross revenue in excess of $1 million and filing returns with tax years ending in 2010 or subsequent will be required to Internet file their return. The only exceptions are: Gross revenue in excess of $ 1 million will be determined by the total of lines 8299 (Total Revenue) and 9659 (Total Farm Revenue) of Schedule 125. Please note that new options have been added to the drop-down menu in the "Electronic filing setup (efile)" screen, under the Federal T2 tab, to reflect the above changes. You may select either of these new options to file via the Internet. If you wish to select only one file in particular to submit electronically, you may use the keyword Efile-Federal in the "Data entry" section of your client's file and select the applicable option. e) QuickTrack feature now implemented for T2 program
As a result of the implementation of the QuickTrack feature, a mouse right-click
on the tax return now displays the following features: Go to source (F6) Source
keywords (F8)Override this field (Ctrl+F2) Help for this field (Ctrl+F8) Note
that if an option is greyed out, it is not available for that particular field. New forms
- Schedule 306 - Newfoundland and Labrador Capital Tax on Financial Institutions- Agreement among Related Corporations - Schedule 443 - Yukon Corporation Tax Calculation - Schedule 525 - Ontario Political Contributions Tax Credit - T1134-B - Information Return Relating to Controlled Foreign Affiliates- Supplementary - Assembly instructions (for corporations) - Charity assembly instructions (for registered charities) Quebec:
N. B.: No calculation support is offered for the above form. - CO-1029.8.35 (2009-02) - Crédit d'impôt pour les productions cinématographiques québécoises (production pour laquelle des dépenses ont été engagées avant le 1er janvier 2009 - année d'imposition terminée après le 31 décembre 2008) (Tax Credit for Quebec Film Productions (production for which expenses were incurred before January 1st, 2009 - tax year ending after December 31st, 2008) - CO-1029.8.36.AL - Tax Credit for the Acquisition or Rental of Property, or the Short-Term Rental of Specialized Facilities - CO-1029.8.36.SM - Crédit d'impôt pour la production de spectacles (Tax Credit for the Production of Performances) Manitoba:
Revised formsFederal:
- Schedule 1 - Net Income (Loss) for Income Tax Purposes - Schedule 5 - Tax Calculation Supplementary - Corporations - Schedule 16 - Patronage Dividend Deduction - Schedule 19 - Non-Resident Shareholder Information - Schedule 31 - Investment Tax Credit - Corporations - Schedule 49 - Agreement among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit - Schedule 53 - General Rate income Pool (GRIP) Calculation - Schedule 61 - Agreement to Allocate Assistance between Persons Not Dealing at Arm's Length for Scientific Research and Experimental Development (SR&ED) N.B.: The above form was formerly known as T1145 - Schedule 62 - Agreement to Transfer between Persons Not Dealing at Arm's Length Qualified Expenditures Incurred in Respect of Scientific Research and Experimental Development (SR&ED) Contracts N.B.: The above form was formerly known as T1146 - Schedule 346 - Nova Scotia Corporation Tax Calculation - Schedule 366 - New Brunswick Corporation Tax Calculation - Schedule 383 - Manitoba Corporation Tax Calculation - Schedule 403 - Saskatchewan Research and Development Tax Credit - Schedule 411 - Saskatchewan Corporation Tax Calculation - Schedule 427 - British Columbia Corporation Tax Calculation - Schedule 500 - Ontario Corporation Tax Calculation - Schedule 506 - Ontario Transitional Tax Debits and Credits - Schedule 510 - Ontario Corporate Minimum Tax - Schedule 550 - Ontario Co-operative Education Tax Credit Quebec:
- COR-17.W - Sommaire des champs à saisir des déclarations des sociétés (Keying Summary for Corporation Returns) - CO-17 SUPP - Associated Corporations - CO-17S.19 - Non-Resident Shareholders Information - CO-771 - Calculation of the Income Tax of a Corporation - CO-771.1.3 - Associated Corporation Agreement Respecting the Allocation of the Business Limit and Calculation of the Business Limit - CO-771.2.1.2 - Income from an Eligible Business Carried On in Canada by a Corporation That Is a Member of a Partnership - CO-786 - Patronage Dividend Deduction - CO-1029.8.33.13 - Tax Credit for the Reporting of Tips - CO-1029.8.35 (2009-08) - Crédit d'impôt pour les productions cinématographiques québécoises ( production pour laquelle aucune dépense n'a été engagée avant le 1er janvier 2009 - année d'imposition terminée après le 31 décembre 2008) (Tax Credit for Quebec Film Productions ( production for which no expense was incurred before January 1st, 2009 - tax year ending after December 31st, 2008) - CO-1029.8.36.FM - Crédit d'impôt pour francisation ou formation dans les secteurs manufacturier, forestier et minier (Tax Credit for Francization or Training in the Manufacturing, Logging and Mining Sectors) - CO-1029.8.36.IC-T - Election for the Tax Credit for Investment - CO-1029.8.36.IN - Tax Credit for Investment - CO-1140 - Calculation of the Paid-Up Capital of a Financial Institution - CO-1140.A - Paid-Up Capital to Be Used for Purposes Other than the Calculation of Tax on Capital - RD-1029.7 - Tax Credit for Salaries and Wages - RD-1029.7.8 - Agreement Between Associated Corporations Regarding the Expenditure Limit - TP-1029.9 - Tax Credit for Taxi Drivers, for Taxi Owners or for the Modernization of the Taxi Fleet N.B.: The above form merges the former TP-1029.8.36.VT (Tax Credit for the Modernization of the Taxi Fleet) with the CO-1029.9 (Tax Credit for Taxi Firms) and will consequently be replacing them from now on. Alberta:
Deleted formsFederal:
Quebec:
New keywords
This is the Ontario Corporation Number (OCN) for purposes of the Corporations Information Act Annual Return for Ontario corporations (Schedules 546 and 548). N.B.: Please note that, pursuant to the introduction of the above new keyword, the keyword Tax-Account will no longer be displayed in any files dealing with the Ontario jurisdiction.
Use the keyword PRODUCTION-PERIOD to indicate the period for which the corporation is claiming the tax credit.
Use the keyword BonusRate to indicate whether or not a 10% bonus rate applies to certain eligible property that has not benefitted from financial assistance granted by certain governement agencies. b) SPECIALTAX-FACTOR : Multiplication factor if the corporation paid a special tax If the corporation paid a special tax, use the keyword SPECIALTAX-FACTOR to enter the multiplication factor.
Use the keyword Amount-CB.qi to request a carryback of an investment tax credit earned in the current year. The corporation may carry back the current-year tax credit earned for a maximum of 3 years. b) PrevYr-ITC : Prior year that requires an ITC adjustment due to a repayment of assistance in current year Use the keyword PrevYr-ITC to choose the prior year that needs an ITC adjustment due to a repayment of assistance in the current tax year. c) ITC-Adjustment : Information required for ITC adjustment Use the keyword ITC-Adjustment to enter amounts for the different components required for the calculation of the ITC adjustment due to a repayment of assistance.
Use the keyword OthProv-Resident to indicate whether the related party is a Canadian resident outside of Quebec. This information is needed on the Quebec form CO-771.1.3. In the RelatedParty group, in reference to Schedules 305 (Newfoundland and Labrador Capital Tax on Financial Institutions) and 306 (Newfoundland and Labrador Capital Tax on Financial Institutions- Agreement among Related Corporations):
Use the keyword Capital-NL to enter the amount of capital of the related corporation for the Newfoundland and Labrador capital tax on financial institutions, schedules 305/306. In the TAXI group, in reference to form TP-1029.9 (Tax Credit for Taxi Drivers, for Taxi Owners or for the Modernization of the Taxi Fleet):
Use the keyword REP-NAME.HO to enter the representative name of the other permit holder, if applicable. In the PoliticContr group, in reference to Schedule 525 (Ontario Political Contributions Tax Credit):
Use Politic-Lim to limit the political contributions to be claimed this year for purposes of federal schedule 525. This amount may not exceed the maximum allowable current year Ontario political contribution tax credit. In the Consent group, in reference to the Manitoba Consent Form:
Use the keyword Position.c to enter the position or title of the individual who is or was a representative of the corporation for purposes of the Manitoba consent form. b) Fax.c : Fax number of representative Use the keyword Fax.c to enter the fax number of the representative of the corporation. c) Scope.rep : Authorization scope of the representative Use the keyword Scope.rep to indicate the scope of the authorization, whether to provide and obtain information on specified accounts and/or to provide changes for specified accounts. This information is required for purposes of the Manitoba consent form. In the Patronage group, in reference to Schedule 16 (Patronage Dividend Deduction):
Use the keyword Patron-Trans to enter the amount of undeducted amounts transferred on amalgamation or wind-up of a subsidiary. In the IFI group, in reference to Schedule 200 (T2 Corporation Income Tax Return): IFRS-Prep : Whether corp. used the International Financial Reporting Standards for F/S preparation Use the keyword IFRS-Prep to indicate whether or not the corporation used the International Financial Reporting Standards (IFRS) when it prepared its financial statements. This information is needed for purposes of the federal return. If this keyword is not used, DT Max will default to "No". In the INNOVATION group, in reference to form CO-1029.8.36.AL (Tax Credit for the Acquisition or Rental of Property, or the Short-Term Rental of Specialized Facilities):
Use the keyword INNOVATION if the corporation is claiming a tax credit for the acquisition of property, or short-term rental of specialized facilities as per Quebec form CO-1029.8.36.AL. b) DESCRIPTION.I : Description of the property Use the keyword DESCRIPTION.I to enter the description of the property. c) TYPE-CORP : Type of corporation for which you are claiming a credit Use the keyword TYPE-CORP to enter the type of corporation for which you are claiming a credit, whether it is a corporation that carries out an innovation project or a corporation that carries out a specified activity in a BDC. d) STARTDATE-EXP : Start-date for expenses Use the keyword STARTDATE-EXP to enter the start-date for the eligible expenses. e) ENDDATE-EXP : End-date for expenses Use the keyword ENDDATE-EXP to enter the end-date for the eligible expenses. f) PROJ-CONTINUED : Whether property was acquired from a person and used to continue carrying out a project started by this person Use the keyword PROJ-CONTINUED to indicate whether or not the property was acquired from a person and used to continue carrying out a project started by this person. g) DATE-ACQUISITION : Date the person acquired the property If you answered "Yes" to the keyword PROJ-CONTINUED, enter the date the person acquired the property with the keyword DATE-ACQUISITION. h) EXPENSES.I : Acquisition costs or rental expenses Use the keyword EXPENSES.I to enter the acquisition costs or rental expenses paid in the year or in a previous year during the eligibility period for expenses. Acquisition costs refer to all the expenses that the corporation incurred for the purchase of new, depreciable corporeal property, and that are included in the capital cost of the property, except the borrowing costs that the corporation chose to capitalize. Rental expenses refer to all the expenses the corporation incurred for the rental of property or specialized facilities. i) ASSISTANCE.I : Amount of assistance received (positive) or repaid (negative) Enter government or non government assistance received as a positive amount. Enter assistance repaid as a negative amount. j) CONTRACT-PYMT : Contract payment related to the expenses Contract payment refers to an amount that the corporation will receive, under a contract, from the federal or a provincial government, a municipality or another administration in Canada, or from a person exempt from tax. k) CONSIDERATION : Amount of the consideration Use the keyword to enter the amount of the consideration for the supply of services, or amount of the consideration for the disposition or rental of other property to a person or a corporation with which the corporation does not deal at arm's length. l) PREV-YR-INFO.I : Information about previous years Use the keyword PREV-YR-INFO.I to enter information about the previous years. m) CREDITRATE-OV : Override - rate of the tax credit that applies to the corporation
In the Employment group, in reference to Schedule 550 (Ontario Co-operative Education Tax Credit):
Use the keyword Weeks.e to enter the number of consecutive weeks of the qualifying work placement completed by the student before March 27, 2009 and after March 26, 2009. In the Agreement group, in reference to Schedule 61 (Agreement to Allocate Assistance between Persons Not Dealing at Arm's Length for Scientific Research and Experimental Development (SR&ED)) and Schedule 62 (Agreement to Transfer between Persons Not Dealing at Arm's Length Qualified Expenditures Incurred in Respect of Scientific Research and Experimental Development (SR&ED) Contracts):
Use the keyword Year-Submitted to indicate the year that the copies of resolutions of the directors were submitted. b) SIN.ts : Social insurance number of transferor or transferee Use the keyword SIN.ts to enter the social insurance number of the transferor if the filing corporation is not the transferor. This keyword can also be used to enter the social insurance number of the transferee if the filing corporation is not the transferee. c) PIN.ts : Partnership identification number of transferor or transferee Use the keyword PIN.ts to enter the partnership identification number of the transferor if the filing corporation is not the transferor. This keyword can also be used to enter the partnership identification number of the transferee if the filing corporation is not the transferee. In the AnnualReturn group, in reference to Schedule 546 (Corporations Information Act Annual Return for Ontario Corporations) and Schedule 548 (Corporations Information Act Annual Return for Foreign Business Corporations):
Use the keyword ADDRESS-REG to enter the street name of the registered office. If no information is entered in this group, DT Max will automatically default to the information entered within the Address group. b) SIGNOFFICER : Last name of authorized person Use the keyword SIGNOFFICER to enter the last name of authorized person for purposes of federal schedule 546 and 548. If no information is entered in this group, DT Max will automatically default to the information entered within the CorpOfficers group. c) FIRSTNAME.A : First name of authorized person Use the keyword FIRSTNAME.A to enter the first name of authorized person for purposes of federal schedules 546 and 548. d) MIDDLENAME.A : Middle name of authorized person Use the keyword MIDDLENAME.A to enter the middle name of authorized person for purposes of federal schedules 546 and 548. e) TITLE.A : Title of authorized person Use the keyword TITLE.A to enter the title of authorized person for purposes of federal schedules 546 and 548.
In reference to Schedule 200 (T2 Corporation Income Tax Return):
Use Quarterly-Instal to indicate whether or not the corporation wants to be considered as a quarterly instalment remitter, if the corporation is eligible.
The Programme d'intégration linguistique des immigrants (PILI) is a program aimed at the francization of immigrants that is offered by the ministère de l'Immigration et des Communautés culturelles (MICC). The courses offered within the context of this program are free. b) TRAININGHRS : Number of hours for the attended training Use the keyword TRAININGHRS to enter the number of hours for the attended training. c) SHARE-CAP : Share of $ 90 attributable to the eligible employer Use the keyword SHARE-CAP to enter the share of $ 90 attributable to the eligible employer if the training has been given to a group made of several employees from more than one eligible employer. The $ 90 amount must be prorated among eligible employers based on the number of eligible employees for each of these employers and who are registered for the training. If no entry is made, DT Max will default to $ 90.
In reference to Quebec form CO-1139 (Capital Tax Credit for Investment):
Use the keyword CAPITALTAX-CROV to override the capital tax credit claimed on Quebec form CO-1139.
Deleted keywordsIn the QCompens-Tax group:
In the Jurisdiction group:
In the Agreement group:
b) FAX.TS : Fax number of transferor or transferee In the Mining group:
New optionsFor keyword Cred-Film :
Choose this option if you wish to file Quebec form CO-1029.8.35 (Tax credit for Quebec film productions). b) Production of Quebec performances Choose this option if you wish to file Quebec form CO-1029.8.36.SM (Tax credit for the production of performances). For keyword Repayment :
The information entered will be used on Quebec form CO-1029.8.36.SM (Tax credit for the production of performances). b) Government/non government assist. (exp. before Jan 1, 2009) c) Government/non government assist. (exp. after Dec 31, 2008) The information entered with both of the above options will be used on Quebec form CO-1029.8.35 (Tax credit for Quebec film productions). For keyword Labour-Exp.f :
This information will be used on Quebec form CO-1029.8.36.SM (Tax credit for the production of performances). b) Qualified labour expenditures - (before Jan 1, 2009) c) Qualified labour expenditures - (after Dec. 31, 2008) The information entered with both of the above options will be used on Quebec form CO-1029.8.35 (Tax credit for Quebec film productions). For keyword Production-Date :
The information entered with this option will be used on Quebec form CO-1029.8.36.SM (Tax credit for the production of performances). For new keyword PRODUCTION-PERIOD :
Second complete year Third complete year The information entered with either of these options will be used on Quebec form CO-1029.8.36.SM (Tax credit for the production of performances). For keyword TaxHoliday :
The information entered with this option will be used on Quebec form CO-17 (Corporation Income Tax Return) For keyword Que-ITC :
The information entered with this option will be used on Quebec form CO-1029.8.36.IN (Tax Credit for Investment) For keyword Efile-Federal :
The client's return is to be efiled if the client has met the mandatory criterion or if entitled to a tax refund receivable, whether or not the client meets your firm's default profile For efile clients. This option is applicable only for tax years ending after December 31, 2009. b) Yes - if the mandatory criterion is met (after 2009) The client's return is to be efiled if the client has met the mandatory criterion whether or not the client meets your firm's default profile for efile clients. This option is applicable only for tax years ending after December 31, 2009. For keyword Account :
Gasoline tax (Manitoba) The information entered with these options will be used on the Manitoba Consent Form. For new keyword Scope.rep :
Provide changes for accounts The information entered with these options will be used on the Manitoba Consent Form. For new keyword INNOVATION :
The information entered with these options will be used on Quebec form CO-1029.8.36.AL (Tax Credit for the Acquisition or Rental of Property, or the Short-Term Rental of Specialized Facilities). For new keyword TYPE-CORP :
Carries out a specified activity in a BDC The information entered with these options will be used on Quebec form CO-1029.8.36.AL (Tax Credit for the Acquisition or Rental of Property, or the Short-Term Rental of Specialized Facilities). For new keyword Prev-Yr-Info :
Qual. labour exp. - prev. yrs Repayment of gov./non gov. assist. - previous year Repayment assistance - prev. yrs Assist. not used to reduce exp. (exp. before Jan 1, 2009) Assist. not used to reduce exp. (exp. after Dec. 31, 2008) Benefit not used to reduce exp. (exp. before Jan 1, 2009) Benefit not used to reduce exp. (exp. after Dec. 31, 2008) The information entered with the above options will be used on Quebec form CO-1029.8.35 (Tax credit for Quebec film productions). For keyword Net-Inc-Ded :
The information entered with this option will be used on Schedule 1 (Net Income (Loss) for Income Tax Purposes). For keyword Net-Inc-Add :
The information entered with this option will be used on Schedule 1 (Net Income (Loss) for Income Tax Purposes). For keyword Elig-Costs.e :
Eligible expenditures after March 26, 2009 The information entered with these options will be used on Schedule 550 (Ontario Co-operative Education Tax Credit). For new keyword Weeks.e :
# of consecutive weeks after March 26, 2009 The information entered with these options will be used on Schedule 550 (Ontario Co-operative Education Tax Credit). For keyword CCA-Class :
The information entered with this option will be used on Schedule 8 (Capital Cost Allowance (CCA). For new keyword ITC-Adjustment :
Actual ITC claimed - previous year Assistance repaid in year Recalculated ITC from repaid assistance - previous year Recalculated ITC claimed from repaid assistance - prev. yr The information entered with these options will be used on Quebec form CO-1029.8.36.IN (Tax Credit for Investment). For keyword Letter-Data :
The information entered with this option will appear on the Client letter. For keyword ProvITCExp.r :
The information entered with this option will be used on Schedule 403 (Saskatchewan Research and Development Tax Credit). For keyword ProvCreditOV :
SR&ED refundable tax credit - MB The information entered with this option will be used on Schedule 5 (Tax Calculation Supplementary - Corporations). For keyword Prov-Alloc :
Credit from trust before March 19, 2009, 2009 - sch. 403 Credit from partnership after March 18, 2009 - sch. 403 Credit from trust after March 18, 2009 - sch. 403 The information entered with these options will be used on Schedule 403 (Saskatchewan Research and Development Tax Credit). For keyword Employment :
New business training tax credit allows eligible Nunavut employers to claim a tax credit for training Nunavut employees of 30 to 50 per cent, if the employees being trained are beneficiaries of the Nunavut Land Claims Agreement. The information entered with this option will be used on federal Schedule 5 (Tax Calculation Supplementary - Corporations). For new keyword TRAININGCONTEXT :
Training other than one given within the context of PILI The information entered with these options will be used on Quebec form CO-1029.8.36.FM (Tax Credit for Francization or Training in the Manufacturing, Logging and Mining Sectors). |
