What's new for T2 Internet version 15.25?

The latest DT Max program update is now available for downloading. It features the fully functional T2 program for fiscal periods ending from 2001 to 2012 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). Installing this version will update your version of DT Max to 15.25.

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

In this version...

DT Max T2

1. Program certification
2. Version highlights

a) Changes to GIFI
b) Budget changes
c) EFILE changes
d) Changes to federal Schedule 552

3. Modified forms
4. Deleted forms
5. New keywords
6. Deleted keywords
7. New options
8. Deleted options

1. Program certification

Federal:

For DT Max T2 version 15.25, the federal barcodes and the Corporation Internet Filing module have received full CRA certification valid for taxation years ending up to and including October 31, 2012 under the DT25 stamp.

Alberta:

Likewise, this version has received full certification for the RSI (Return and Schedule Information), as well as for the Net File module that allows the electronic filing of Alberta corporate tax returns, from Alberta's Tax and Revenue Administration (TRA) under the DT25 stamp.

Quebec:

Version 15.25 has also undergone an authorization process with Revenu Québec for the paper version of form TP-985.22, Information Return for Registered Charities and Other Donees, and has been approved under number RQRM-11-003.

2. Version highlights

1. Changes to GIFI

   Please note that corporations that are inactive throughout the tax year and that do not have balance sheet or income statement information to report are exempted from the GIFI filing requirement. However, they will be accepted if filed.

   Therefore, if you are creating a new file in DT Max and the corporation is inactive, the GIFI keyword group will no longer appear automatically in the data entry screen. However, you can still enter GIFI information for an inactive corporation if you wish to do so. If the GIFI group existed in a prior version of DT Max (for an inactive corporation), this information will remain in the data entry. Note that you may also choose to delete it.

2. Budget changes

   Ontario:

   The province's general corporate income tax (CIT) rate had fallen from 14% in 2009 to 11.5%, and was scheduled to fall to 11% on July 1, 2012 and to 10% on July 1, 2013. The 2012 Ontario Budget proposes to freeze the general CIT rate at 11.5% until the province's budget is balanced. This measure has been implemented in version 15.25 of DT Max and will affect federal schedules 500, Ontario Corporation Tax Calculation and 502, Ontario Tax Credit for Manufacturing and Processing.

   Alberta:

   Effective for tax years ending after March 31, 2012, corporations claiming the Alberta Scientific Research and Experimental Development (SR&ED) Tax Credit will no longer need to deduct the federal investment tax credit when calculating Alberta's credit. This measure has been implemented in version 15.25 of DT Max and will impact the Alberta AT1 Schedule 9, Listing of SR&ED Projects Claimed in Alberta.

   Manitoba:

   Commencing with taxation years ending after April 17, 2012, the Manitoba 3% Corporation Capital Tax on Financial Institutions is increased to 4%. This measure has been implemented in version 15.25 of DT Max and will affect the Banks, Trust and Loan Corporations Return pertaining to the Manitoba Corporation Capital Tax Act.

3. EFILE changes

   Starting with version 15.25, non-resident corporations that are eligible for corporate Internet filing will no longer be subject to the mandatory filing requirement.

   Non-resident corporations with gross revenue in excess of $1 million will therefore not be required to file their return using the Corporate Internet Filing service.

4. Changes to federal Schedule 552

   Changes were brought to the calculation of federal Schedule 552, Ontario Apprenticeship Training Tax Credit (2009 and later tax years). If this is NOT the first year of filing for the corporation, please make sure to enter the keyword Wages.his (in the CorpHistory group) and specify the appropriate amount for salaries and wages paid by the corporation in the prior year.

3. Modified forms

Federal:
• Schedule 200 – T2 Corporation Income Tax Return
• Schedule 5 - Tax Calculation Supplementary - Corporations (2011 and later tax years)
• Schedule 20 - Part XIV - Additional Tax on Non-Resident Corporations (2009 and later tax years)
• Schedule 31 - Investment Tax Credit - Corporations (2010 and later taxation years)
• Schedule 47 - Canadian Film or Video Production Tax Credit (2011 and later tax years)
• Schedule 48 - Film or Video Production Services Tax Credit (2011 and later tax years)
• Schedule 49 - Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit (2010 and later tax years)
• Schedule 55 - Part III.1 Tax on Excessive Eligible Dividend Designations (2006 and later tax years)
• Schedule 380 - Manitoba Research and Development Tax Credit
• Schedule 381 - Manitoba Manufacturing Investment Tax Credit (2011 and later tax years)
• Schedule 385 - Manitoba Odour-Control Tax Credit (2011 and later tax years)
• Schedule 389 - Manitoba Book Publishing Tax Credit (2011 and later tax years)
• Schedule 390 - Manitoba Cooperative Development Tax Credit (2010 and later tax years)
• Schedule 442 - Yukon Research and Development Tax Credit (2011 and later taxation years)
• Schedule 500 - Ontario Corporation Tax Calculation (2010 and later tax years)
• Schedule 502 - Ontario Tax Credit for Manufacturing and Processing (2010 and later tax years)
• Schedule 560 - Ontario Interactive Digital Media Tax Credit (2009 and later tax years)

Quebec:

• CO-17 - Corporation Income Tax Return
• CO-1029.8.36.RO - Tax Credit for Job Creation in the Resource Regions, Vallée de l'Aluminium, Gaspésie and Certain Maritime Regions of Québec (2010 and subsequent calendar years)
• CO-1029.8.36.RP - Agreement Respecting the Base Amount for Assistance Granted in the Resource Regions
• CO-1029.8.36.RQ - Agreement Respecting the Tax Credit for Job Creation in the Resource Regions, the Vallée de l'Aluminium, Gaspésie and Certain Maritime Regions of Québec
• TP-985.22 – Information Return for Registered Charities and Other Donees
• TP-1029.9 – Tax Credit for Taxi Drivers and Taxi Owners

Alberta:

• AT1 Schedule 1 - Alberta Small Business Deduction

4. Deleted forms

Federal:
• Schedule 361 - New Brunswick Tax on Large Corporations
• Schedule 362 - New Brunswick Tax on Large Corporations - Agreement Among Related Corporations

5. New keywords

1. In the TAXI keyword group, pertaining to Quebec form TP-1029.9 (Tax Credit for Taxi Drivers and Taxi Owners):
   PERMIT-ACQCOST : Acquisition cost of the taxi owner's permit

   Use the keyword PERMIT-ACQCOST to enter the acquisition cost of the taxi owner's permit.

2. In the LRIP-Balance keyword group, pertaining to federal Schedule 55 (Part III.1 Tax on Excessive Eligible Dividend Designations (2006 and later tax year)):
   Election.l : Elected amount of excessive eligible dividend designation to be treated as ordinary dividends

   You can elect to treat all or part of your excessive eligible dividend designation as a separate taxable dividend in order to eliminate or reduce the Part III.1 tax otherwise payable. You must file the election on or before the day that is 90 days after the day the notice of assessment for Part III.1 tax was sent. CRA will accept an election before the assessment of the tax. For more information on how to make this election, go to https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/eligible-dividends.html .

   Use the keyword Election.l to enter the excessive eligible dividend designation elected under subsection 185.1(2) to be treated as ordinary dividends.

3. In the GRIP-Balance keyword group, pertaining to federal Schedule 55 (Part III.1 Tax on Excessive Eligible Dividend Designations (2006 and later tax year)):
   Election.g : Elected amount of excessive eligible dividend designation to be treated as ordinary dividends

   You can elect to treat all or part of your excessive eligible dividend designation as a separate taxable dividend in order to eliminate or reduce the Part III.1 tax otherwise payable. You must file the election on or before the day that is 90 days after the day the notice of assessment for Part III.1 tax was sent. The CRA will accept an election before the assessment of the tax. For more information on how to make this election, go to https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/corporations/eligible-dividends.html .

   Use the keyword Election.g to enter the excessive eligible dividend designation elected under subsection 185.1(2) to be treated as ordinary dividends.

4. In the CorpOfficers keyword group, pertaining to Quebec form TP-985.22 (Information Return for Registered Charities and Other Donees):

   BusinessName : Name of business, if applicable

   This is the name of the business, if applicable, pertaining to the signing officer as you want it printed on the TP-985.22 (Information Return for Registered Charities and Other Donees).

6. Deleted keywords

1. In the TAXI keyword group, pertaining to Quebec form TP-1029.9 (Tax Credit for Taxi Drivers and Taxi Owners):
NUMBER-DAYS : # of days eligible for modernization of taxi fleet credit (SAAQ)

2. In the CorpHistory keyword group:
PARTI3TAX : Part I.3 tax in prior year

3. In the RelatedParty keyword group:
PARTI3TAX.PA : Part I.3 tax in prior year

4. In the Job-Creation keyword group, pertaining to Quebec form CO-1029.8.36.RO (Tax Credit for Job Creation in the Resource Regions, Vallée de l'Aluminium, Gaspésie and Certain Maritime Regions of Québec):
1. ASSISTUSED : Tax assistance that was used regarding the exemption for small and medium-sized manufacturing businesses in remote resource regions
2. TAXASSISTANCE : Limit on tax assistance and choice of tax assistance

7. New options

1. For keyword SR&EDInfo , pertaining to federal Schedule 381 (Manitoba Manufacturing Investment Tax Credit (2011 and later tax years)):
M&P tax credit - Manitoba

2. For keyword SR&EDInfo , pertaining to federal Schedule 385 (Manitoba Odour-Control Tax Credit (2011 and later tax years)):
Odour-control tax credit - Manitoba

3. For keyword Prod-Expenses.d , pertaining to federal Schedule 560 (Ontario Interactive Digital Media Tax Credit (2009 and later tax years)):
Eligible labour exp. in current year
Eligible labour exp. in previous year


4. For keyword Net-Inc-Add , pertaining to federal Schedule 1 (Net Income (Loss) for Income Tax Purposes (2009 and later tax years)):
Manufacturing investment tax credit - Sch. 381
5. For keyword ProvITCExp.r , pertaining to federal Schedule 442 (Yukon Research and Development Tax Credit (2011 and later taxation years)):
SR&ED ITC repayment - Yukon
Yukon college expenditures repayment

6. For keyword ProvCreditOV , pertaining to federal Schedule 5 (Tax Calculation Supplementary - Corporations (2011 and later tax years)):
Neighbourhoods alive! tax credit - Man.
Cultural industries printing tax credit - Man.

7. For keyword Prov-Alloc , pertaining to federal Schedule 380 (Manitoba Research and Development Tax Credit):
Refund. cr. from partnership after June 15, 2011 - sch. 380
Refund. cr. from trust after June 15, 2011 - sch. 380

8. For keyword Print-Costs , pertaining to federal Schedule 389 (Manitoba Book Publishing Tax Credit (2011 and later tax years)):
Printing costs incurred before April 13, 2011
Printing costs incurred after April 12, 2011

9. For keyword Format , pertaining to federal Schedule 389 (Manitoba Book Publishing Tax Credit (2011 and later tax years)):
Electronic

10. For keyword TRADE-CODE , pertaining to federal Schedule 552 (Ontario Apprenticeship Training Tax Credit (2009 and later tax years)):
Hazardous material worker
Residential sheet metal installer

8. Deleted options

1. For keywords PERMIT and OTHER-HOLDER , pertaining to Quebec form TP-1029.9 (Tax Credit for Taxi Drivers and Taxi Owners):
   Tax credit for the modernization of the taxi fleet
   Tax credits for taxi firm and modernization of taxi fleet

2. For keyword GIFI-Field , pertaining to the federal General Index of Financial Information (GIFI):
   New Brunswick tax on large corporations
   NISA payments
   Resales, rebates, GST for NISA eligible exp.
   Rebates, GST for NISA non-eligible expenses
   Insurance premiums (crop) NISA ACS