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Print this pageForward this document  What's new for T2 Internet version 16.25?

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 2013 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). Installing this version will update your version of DT Max to 16.25.

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

In this version...

1. Program certification

Federal:

For DT Max T2 version 16.25, 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, 2013 under the DT27 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 DT27 stamp.

2. Version highlights

a) Federal EFILE changes: Web service option now mandatory for Corporation Internet Filing

Please note that for 2013 onward the Canada Revenue Agency has decided that the Web service option will be mandatory for Corporation Internet Filing purposes.

The 2013 DT Max Efile Setup will therefore no longer offer a manual transmission method. We strongly recommend that you verify whether your Federal Efile Number and Password are properly reflected within your Efile Setup.

b) Budget change affecting the Manitoba MCT 1 Banks, Trust and Loan Corporations Return

Commencing with taxation years ending after April 16, 2013, the Manitoba 4% Corporation Capital Tax on Banks, Trust and Loan Corporations is increased to 5%. This measure has been implemented in version 16.25 of DT Max and will affect the Manitoba MCT 1 Banks, Trust and Loan Corporations Return pertaining to the Manitoba Corporation Capital Tax Act.

c) Changes to federal Schedules 31 and 421

Please note that changes were made to Schedule 31,” Investment Tax Credit - Corporations (2012 and later taxation years)” and, as a result, changes were brought to the keywords Proj-Name , Mine-Title and Mine-Div (in the Mining keyword group). Keep in mind that these changes also impacts the information entered for Schedule 421, “British Columbia Mining Exploration Tax Credit (2007 and later taxation years)”, since the same keywords are used. Please re-enter the information for these three keywords as the information may not be accurate.

d) Changes affecting federal forms T1134A and T1134B

The T1134A and T1134B have been replaced by Form T1134 (see the New forms section below). As a result, this has drastically affected the keywords pertaining to this form. We highly recommend that anyone who may have entered the foreign information with a prior version review the group for any missing information and re-enter their clients’ information according to the new keywords and criteria in effect. Substantial changes were made to the Foreign-Info group and entries should therefore be reviewed carefully.

3. Reminders

a) Alberta Finance

Alberta Finance has issued a reminder with respect to Field 091 of the AT1 Alberta Corporate Return. If an amount is included within this field, then it is important that the payment be made within a reasonable time frame.

b) CRA (NAICS codes)

The following communication has been issued by the CRA:

North American Industry Classification System (NAICS) Code update

Tax preparation software packages have been updated this year with the 2012 NAICS codes. You will need to select from these codes when you complete T2 returns. The code selected needs to identify the corporation's main revenue-generating business activity.

Because some codes are new or revised, it is important that you go through the drop-down list carefully to select the code that most accurately describes the business’ main revenue-generating activity. In subsequent years, you simply validate that the code selected is correct.

Failure to select a NAICS code could result in errors in filing the return electronically and in completing or printing the bar-coded return. It can also result in returns being reviewed unnecessarily.

In addition, selecting the right NAICS code from the easy-to-use drop-down list is important for many reasons:

  • It reduces the need for government follow-up with the business or tax preparers to find accurate descriptions of the main revenue-generating business activity.
  • Selecting the right code this year will mean quicker validation of the description in subsequent years if there is no change to the main revenue-generating business activity.
  • Correct codes provide better quality data for statistical, economic and fiscal policy analysis by all levels of Government.

4. New forms

Federal:

– Schedule 393 – Manitoba Nutrient Management Tax Credit (2012 and later tax years)

– Schedule 430 – British Columbia Shipbuilding and Ship Repair Industry (2012 and later tax years)

– T1134 - Information Return Relating To Controlled and Not-Controlled Foreign Affiliates (2011 and later taxation years)

This revised form T1134 is a combination of former forms T1134A and T1134B.

One summary sheet must be completed for each reporting entity. A separate supplement must be completed for every foreign affiliate. This form must be filed annually by a taxpayer resident in Canada for which a non-resident corporation or trust is a foreign affiliate (FA) or a controlled foreign affiliate (CFA) at any time in the year.

This return is to be filed by a reporting entity only in respect of a foreign affiliate in which the reporting entity or a controlled foreign affiliate of the entity has a direct equity percentage at any time in the reporting entity's taxation year.

5. Modified forms

Federal:

– Schedule 200 – T2 Corporation Income Tax Return

– Schedule 5 - Tax Calculation Supplementary - Corporations (2012 and later tax years)

– Schedule 7 - Aggregate Investment Income and Active Business Income (2011 and later tax years)

– Schedule 31 - Investment Tax Credit - Corporations (2012 and later taxation years)

– Schedule 49 - Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit (2012 and later tax years)

– Schedule 71 - Income Inclusion for Corporations that are Members of Single-Tier Partnerships (2011 and later tax years)

– Schedule 322 - Prince Edward Island Corporation Tax Calculation (2012 and later tax years)

– Schedule 366 - New Brunswick Corporation Tax Calculation (2011 and later tax years)

– Schedule 388 - Manitoba Film and Video Production Tax Credit (2012 and later tax years)

– Schedule 403 - Saskatchewan Research and Development Tax Credit (2012 and later tax years)

Quebec:

N. B.: English versions of the following Quebec forms are now available:

– CO-502 - Election in Respect of a Dividend Paid Out of a Capital Dividend Account

– CO-1029.8.33.13 - Tax Credit for the Reporting of Tips

– CO-1029.8.36.EM - Tax Credit Relating to Resources

– CO-1029.8.36.ID - Cumulative Limit Allocation Agreement for the Tax Credit for Investment

– CO-1029.8.36.PM - Tax Credit for Corporations Specialized in the Production of Multimedia Titles

– CO-1029.8.36.SM - Tax Credit for the Production of Performances

6. New keywords

  1. In the Employment keyword group, pertaining to federal Schedule 430 (British Columbia Shipbuilding and Ship Repair Industry (2012 and later tax years)):

    BCTRAIN-TAXCR : B.C. training tax credit claimed in year

    Use the keyword BCTRAIN-TAXCR to enter the B.C. training tax credit claimed for the employee in the tax year.

  2. In the Efile-Federal keyword group:

    1. Fed-EfileMethod : Efile transmission method

      The keyword Fed-EfileMethod specifies your preferred method of transmission.

      You may choose between your own federal EFILE number and password or the corporation's Web-assigned Access Code.

    2. WebAccessCode : Corporation's assigned Web Access Code

      The keyword WebAccessCode is to be used to enter the corporation's assigned Web Access Code.

      To obtain a Web Access Code, please contact the Corporation Internet Filing Help Desk.

      For corporations resident in Canada, call 1-800-959-2803. For non-resident corporations, call 1-819-536-2360 or 1-204-984-3594. Please note the Canada Revenue Agency does accept collect calls.

      Alternatively, you may request a Web Access Code by fax where you will have to provide the corporation's name, business number and tax year end. Send the request to the attention of the "Corporation Internet Filing Help Desk" in Shawinigan at 819-536-4486 or Winnipeg at 204-984-0418.

  3. In the Foreign-Info keyword group, pertaining to federal form T1134 (Information Return Relating To Controlled and Not-Controlled Foreign Affiliates (2011 and later taxation years)):

    1. Currency-Code.gr : Currency code of foreign affiliate's gross revenue

      Use the keyword Currency-Code.gr to enter the currency code of the foreign affiliate's gross revenue.

    2. Corp-Name.t1134 : Name of related corporation

      Use the keyword Corp-Name.t1134 to list the name of the corporation that is not dealing at arm's length with the reporting entity.

      This information will be entered in Table A of Part I, section 3 of form T1134.

    3. Corp-Res-Code : Country code of residence of corporation

      Use the keyword Corp-Res-Code to enter the country code of residence of the corporation.

      This information will be entered in Table D of Part I, section 3 of form T1134.

    4. Partnership-Name : Name of partnership

      Use the keyword Partnership-Name to list the name of each partnership of which the foreign affiliate is a member.

      This information will be entered in Table D of Part I, section 3 of form T1134.

    5. Part-Address-Ln1 : Line 1 of partnership address

      Use the keyword Part-Address-Ln1 to enter the address of the partnership.

      This information will be entered in Table D of Part I, section 3 of form T1134.

    6. Part-Address-Ln2 : Line 2 of partnership address

      Use the keyword Part-Address-Ln2 to enter the second line of the address of the partnership

      This information will be entered in Table D of Part I, section 3 of form T1134.

    7. Part-CountryCode : Country code of country of location of partnership

      Use the keyword Part-CountryCode to enter the country code of the business location of the partnership of which a foreign affiliate is a member.

      This information will be entered in Table D of Part I, section 3 of form T1134.

    8. Foreign-Aff-Name : Name of foreign affiliate

      Use the keyword Foreign-Aff-Name to enter the name of the foreign affiliate.

      This information will be entered in either Table A or D of Part I, section 3 of form T1134.

    9. For-Aff-Code : Country code of residence of foreign affiliate

      Use the keyword For-Aff-Code to enter the country code of the residence of the foreign affiliate.

      This information will be entered in Table A of Part I, section 3 of form T1134.

    10. Oth-For-Aff-Name : Name of other foreign affiliate

      Use the keyword Oth-For-Aff-Name to enter the name of the other foreign affiliate.

      This information will be entered in Table B of Part I, section 3 of form T1134.

    11. Oth-For-Aff-Code : Country code of residence of other foreign affiliate

      Use the keyword Oth-For-Aff-Code to enter the country code of the residence of the other foreign affiliate.

      This information will be entered in Table B of Part I, section 3 of form T1134.

    12. Equity%.t1134 : Equity percentage in foreign affiliate

      Use the keyword Equity%.t1134 to enter the equity percentage in the foreign affiliate

      This information will be entered either in Table A or B, whichever is applicable, of Part I, section 3 of form T1134.

    13. Direct-Equity% : Direct equity percentage in the foreign affiliate

      Use the keyword Direct-Equity% to enter the direct equity percentage in the foreign affiliate

      This information will be entered either in Table A or B, whichever is applicable, of Part I, section 3 of form T1134.

    14. For-Aff-Interest% : Foreign affiliate's interest percentage in the partnership

      Use the keyword For-Aff-Interest% to enter the foreign affiliate's interest percentage in the partnership.

      This information will be entered in Table D of Part I, section 3 of form T1134.

    15. Elect-Currency : State the currency code of the functional currency

      Use the keyword Elect-Currency to state the alphabetic currency code of the functional currency, if an election has been made to use functional currency.

      Monetary values should be reported in Canadian dollars except where an election has been made under paragraph 261(3)(b) of the Act to use a functional currency. The currency code will be indicated on the top of page 1 of the T1134 Summary.

    16. FILER-ID : CRA registered identification number (SIN, BN, other)

      Use the keyword FILER-ID to enter the CRA registered identification number (SIN, BN, other) of the taxpayer reporting Section 3 if it is filed by a taxpayer or partnership other than the reporting entity.

    17. Org-Structure : Organization structure

      Use the keyword Org-Structure if you are reporting on one or more "Controlled" Foreign Affiliates as defined in subsection 98(1) of the Act. You only have to produce the information once for a group of persons that are related to each other.

    18. OTHER-BUSNUMBER : Business number for other reporting purposes

      Use the keyword OTHER-BUSNUMBER if the foreign affiliate has a business number for other reporting purposes (for example: GST/HST remittances, Payroll, etc.).

    19. BUS-CODE : Business (NAICS) code

      Use the keyword BUS-CODE to enter the business (NAICS) code for the number of full-time employees or employee equivalents.

7. Deleted keywords

  1. In the Foreign-Info keyword group, pertaining to the former federal forms T1134A (Information Return Relating To Foreign Affiliates That Are Not Controlled Foreign Affiliates) and T1134B (Information Return Relating To Controlled Foreign Affiliates):

    1. FOR-CURRENCY : Gross amount of debt in foreign currency

    2. FS-FOREIGN : Financial information of foreign affiliate, in foreign currency

    3. FOR-CURR : ACB of shares - foreign currency

8. New options

  1. For keyword Employment , pertaining to federal Schedule 430 (British Columbia Shipbuilding and Ship Repair Industry (2012 and later tax years)):

    British Columbia shipbuilding tax credit

  2. For keyword Credit-Type , pertaining to federal Schedule 430 (British Columbia Shipbuilding and Ship Repair Industry (2012 and later tax years)):

    Basic tax credit
    Enhanced tax credit

  3. For keyword Level.c , pertaining to federal Schedule 430 (British Columbia Shipbuilding and Ship Repair Industry (2012 and later tax years)):

    First 24 months

  4. For keywords Partner-ITC and ITC-Code :

    Qualified resource property (5%)

  5. For keyword Expenses.m , pertaining to federal Schedule 31 (Investment Tax Credit - Corporations (2012 and later taxation years)):

    Mining exploration expenditures (5%)
    Mining development expenditures (7%)
    Mining development expenditures (4%)

  6. For keyword Prod-Expenses , pertaining to federal Schedule 388 (Manitoba Film and Video Production Tax Credit (2012 and later tax years)):

    Eligible accomodation expenditures

  7. For keyword Prov-Alloc , pertaining to federal Schedule 403 (Saskatchewan Research and Development Tax Credit (2012 and later tax years)):

    Credit from partnership (non-refundable) - sch. 403
    Credit from trust (non-refundable) - sch. 403
    Credit from partnership (refundable) - sch. 403
    Credit from trust (refundable) - sch. 403

  8. For keyword SURPLUS-ACCT , pertaining to federal form T1134 (Information Return Relating To Controlled and Not-Controlled Foreign Affiliates (2011 and later taxation years)):

    Hybrid surplus

  9. For keyword Inc-Incl-ABI , pertaining to federal form T1134 (Information Return Relating To Controlled and Not-Controlled Foreign Affiliates (2011 and later taxation years)):

    ITA - paragraph 95(2)(a)(v)
    ITA - paragraph 95(2)(a)(vi)

  10. For keyword ProvITCExp.r , pertaining to federal Schedule 403 (Saskatchewan Research and Development Tax Credit (2012 and later tax years)):

    SR&ED ITC - Saskatchewan (after March 31, 2012)

9. Deleted options

For the keyword ProvCreditOV , pertaining to federal Schedule 5 (Tax Calculation Supplementary - Corporations (2012 and later tax years)):

Shipbuilding and ship repair industry tax credit - B.C.


 

May 28, 2013