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Print this pageForward this document  What's new for T2 Internet version 21.15?

The latest DT Max program update is now available for downloading. It features the fully functional T2 program for fiscal periods ending from 2006 to 2018 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). Installing this version will update your version of DT Max to 21.15.

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

In this version...

DT Max T2

  1. Program certification
  2. Version highlights
    1. Known issues fixed in version 21.15
      1. From our FAQ section: Schedule 8 - Additional deduction of $500
      2. CCA class 14.1: Capital cost allowance claim when tax year is greater than 365 days
      3. Schedule 7: Specified corporate income and assignment of business limit
    2. Schedule 366: Decrease of the lower rate of the corporation income tax
    3. Schedule 411: Increase of the general corporate income tax rate and new Part 2 added
    4. Carryforward of keyword CECA-HIST
    5. Schedule 10, AT1 Schedule 14 and CO-130.B
    6. T1134 - Format change for keyword OTHER-BUSNUMBER
  3. New forms
  4. Revised forms
  5. Deleted forms
  6. New keywords
  7. Deleted keywords
  8. New options
  9. Deleted options

 

DT Max T2

  1. Program certification

    This new version of DT Max T2 has undergone an authorization process with the CRA for the paper version (including the bar code return) of Form T3010, Registered Charity Information Return, and has been approved under authorization number 13103.

  2. Version highlights

    1. Known issues fixed in version 21.15

      1. From our FAQ section: Schedule 8 - Additional deduction of $500

      2. CCA class 14.1: Capital cost allowance claim when tax year is greater than 365 days

        On federal Schedule 8, if the corporation had enough undepreciated capital cost (UCC) to claim the accelerated capital cost allowance (CCA) amount of $500, and the number of days in the tax year was greater than 365 days, DT Max claimed more than $500 of CCA due to the extra days. This also affected Quebec CO-130.A and Alberta Schedule 13. This issue has been fixed in version 21.15.

      3. Schedule 7: Specified corporate income and assignment of business limit

        DT Max did not allow the entry of the specified corporate income on line 610 of federal Schedule 7 and line 35a of the CO-771 to reduce the active business income if there was no assignment of the business limit made by the private corporation. This issue has been fixed in this version.

    2. Schedule 366: Decrease of the lower rate of the corporation income tax

      Effective April 1, 2018, the lower rate of the corporation income tax will further decrease from 3% to 2.5%. New lines have been added in Part 2 of the form, New Brunswick tax before credits, to reflect this change.

    3. Schedule 411: Increase of the general corporate income tax rate and new Part 2 added

      All new Part 2, Income from active business when there is partnership income, has been added and should be completed when the corporation is a member or designated member of a partnership. The form has also been updated to implement business income tax initiatives that were announced in the October Throne Speech. This includes returning Saskatchewan's general corporate income tax rate to 12 per cent (a half-point increase), effective January 1, 2018, matching the rates of the other western provinces.

    4. Carryforward of keyword CECA-HIST

      Please note that there have been tax changes implemented when the option "CEC (before 2017)/Class 14.1 - 5% (after 2016)" is selected for the keyword CCA-Class .

      If a carryforward amount already exists for the keyword CECA-Hist with the option "CEC balance on January 1, 2017 - Override" within the CCA-Class keyword group, we strongly suggest that the carryforward amount be verified and the necessary changes be made as the amount may be incorrect.

      As a reminder, a warning message will be generated in the data entry if a carryforward exists for this option.

    5. Schedule 10, AT1 Schedule 14 and CO-130.B

      There has been a revision made at line 425 on federal Schedule 10, Total CEC deductions applied in prior years that have not been recaptured, following an update from the CRA. As such, equivalent changes were made for Alberta Schedule 14 at line 102 and for Quebec form CO-130.B at line 2 of Supplement 250-1.

    6. T1134 - Format change for keyword OTHER-BUSNUMBER

      The keyword OTHER-BUSNUMBER within the Foreign-Info keyword group has changed format from an alphanumeric field to a numeric field only. We recommend that you check the data entry for the keyword OTHER-BUSNUMBER and make any applicable changes if the keyword has already been entered in a previous version.

  3. New forms

    Quebec

    • CO-156.TZ - Additional Deduction for Transportation Costs of Small and Medium-Sized Businesses Located in a Special Remote Area

      This form must be completed for any corporation whose taxation year begins after March 28, 2017, and that wishes to claim the additional deduction for transportation costs of small and medium-sized businesses located in a special remote area in the calculation of its net income for its taxation year.

      To qualify for the deduction, the corporation must, in particular, meet the following conditions:

      • It must be a Canadian-controlled private corporation throughout its taxation year.

      • More than 50% of its cost of labour or its cost of capital for the taxation year must be attributable to the operation of a business located in a special remote area.

      • Its paid-up capital used in the calculation of the small business deduction (SBD) for the taxation year must be less than $15 million.

      • It must not have claimed for the taxation year the additional deduction for transportation costs of small and medium-sized manufacturing businesses.

      Use the keyword QC-Trans-CO156TZ within the NetIncome group if you wish to claim this additional deduction.

    • CO-1175.13 - Agreement Between the Members of a Related Group of Life Insurers Respecting Capital Allowance

      Form CO-1175.13 is intended for any life insurance corporation that:

      • carries on business in Canada in a taxation year;

      • is related to one or more corporations and forms with them a related group at the end of the taxation year; and

      • wishes to come to an agreement, for the taxation year, with the corporation(s) related to it as to how to allocate the capital allowance between them for the purpose of calculating the tax on capital.

      Use the keyword Capital-Ded with the option "Agreement among related life insurers - CO-1175.13" when the related keyword LCT-Related is "Yes" within the RelatedParty keyword group if you wish to generate this form.

  4. Revised forms

    Federal

    • Schedule 10 - Cumulative Eligible Capital Deduction (2016 and later taxation years)

    • Schedule 17 - Credit Union Deductions (2015 and later tax years)

      Part 4 of the form, Preferred-rate amount at the end of the tax year, has been revised. New lines have been added for days in the tax year after 2017 due to the federal decrease in the small business deduction rate to 10 per cent, effective January 1, 2018.

    • Schedule 346 - Nova Scotia Corporation Tax Calculation (2017 and later tax years)

      Part 2 of the form, Calculation of income from active business when there is partnership income, has been updated. The calculation at line H1 and H2 have been revised.

    • Schedule 366 - New Brunswick Corporation Tax Calculation (2017 and later tax years)

    • Schedule 383 - Manitoba Corporation Tax Calculation (2016 and later tax year)

      Part 2 of the form, Income from active business when there is partnership income has been updated. For period before January 1, 2016, lines making reference to line 540, amount W and amount Y of Schedule 7 have been deleted and line M1 has been revised.

    • Schedule 411 - Saskatchewan Corporation Tax Calculation (2018 and later tax years)

    • Schedule 425 - British Columbia (BC) Scientific Research and Experimental Development Tax Credit

      In the Schedule A section of the form, several lines pertaining to government assistance have been revised. We recommend that you review your data entry and make the necessary adjustments.

    • Schedule 428 - British Columbia Training Tax Credit (2017 and later tax years)

    • Schedule 500 - Ontario Corporation Tax Calculation (2018 and later tax years)

    • Schedule 558 - Ontario Production Services Tax Credit (2015 and later tax years)

    • T1240 - Registered Charity Adjustment Request (N.B.: Please note that no calculation support is available for this form.)

    • T3010 - Registered Charity Information Return

      New line has been added on form T1236 for the country of the other organization that received a gift from the charity. Use the keyword Country.chr in the NameQualDonee subgroup within the CharityReturn group, if you wish to enter a country.

    • AgriStability and AgriInvest - 2018 Statement A, Corporation/Co-operative and Special Individual

      A new line has been added on page 1, Participant identification, for the email address. Use the keyword Email to enter information on this line.

      New program payment options 674, 675 and 676 have been added for the keyword Program-Pymt within the Agri-Program group. There have also been multiple deleted options for the keyword Program-Pymt . Please verify the data entry and adjust accordingly.

      In the Expenses section of the form, under the column header Non-allowable expenses, Allowance on eligible capital property has been deleted.

    • T2WS1 - Calculating your estimated tax payable and tax credits for 2018 (N.B.: Please note that no calculation support is available for this form.)

    Quebec

    • COZ-1179 - Logging Operations Return

      In Part 3 of the form, Income from logging operations, new tick boxes have been added for the different logging operations.

      Also, in Part 5 Logging tax payable, new lines 78a and 78b have been added for the reduction of logging tax payable for the tax year and the carry-over of the reduction to a subsequent tax year.

      Use the keyword Tax-Reduction within the LoggingReturn group, if you wish to tick one of these boxes. Please note that the keyword Tax-Reduction now has a drop-down menu so if the keyword existed in a previous version of DT Max T2, the option "Reduction of logging tax payable for the tax year" will be automatically selected. We suggest that you verify the data entry and make the necessary adjustments.

    5. (N.B.: The following three forms are now available in English)

    • CO-156.TR - Additional Deduction for Transportation Costs of Small and Medium-Sized Manufacturing Businesses

    • CO-1029.8.35 - Tax Credit for Québec Film Productions

    • CO-1029.8.36.5 - Tax Credit for a Design Activity Carried Out by an Outside Consultant

    In-house forms

    • Client letter

  5. Deleted forms

    Federal

    • Schedule 8 - CCA Class 14.1 (7%) Worksheet (supplement)

    Quebec

    • CO-130.A - CCA Class 14.1 (7%) Worksheet (supplement)

    • CO-1029.8.36.CP - Tax Credit for the Construction of Public Access Roads and Bridges in Forest Areas

    Alberta

    • AT1 Schedule 13 - CCA Class 14.1 (7%) Worksheet (supplement)

  6. New keywords

    1. In the NetIncome group, pertaining to the new Quebec form CO-156.TZ, Additional Deduction for Transportation Costs of Small and Medium-Sized Businesses Located in a Special Remote Area:

      1. QC-Trans-CO156TZ : Whether you wish to claim add. ded. for transport. costs of SMBs located in a special remote area

        Use the keyword QC-Trans-CO156TZ to indicate whether or not the corporation wishes to claim the additional deduction for transportation costs of a SMB located in the special remote area for its tax year that begins after March 28, 2017.

        In order to claim the additional deduction, the corporation must meet the following criteria:

        • throughout its taxation year, the business was a Canadian-controlled private corporation,

        • over 50% of its cost of labour or over 50% of its cost of capital for the taxation year is attributable to the carrying on of a business located in the special remote area,

        • its paid-up capital used in the calculation of the small business deduction (SBD) for the taxation year is less than $ 15 million,

        • the business did not claim, for the taxation year, the additional deduction for transportation costs of remote manufacturing SMBs.

  7. Deleted keywords

    1. In the Construct-Cr group, pertaining to the deleted Quebec form CO-1029.8.36.CP, Tax Credit for the Construction of Public Access Roads and Bridges in Forest Areas

      1. PARTNER-INFO.CO: Type of relationship partnership is involved in

      2. PARTNER-NAME.CO: Partnership's name

      3. NAME.CO: Name of the access road or bridge

      4. CERTNUMBER: Certificate number

      5. IDENTNUMBER: Annual forest management plan identification number

      6. DATEISSUE: Date of issue

      7. EXPENSEPERIOD: Period in which the expenses were incurred

      8. SALARIES.CO: Salaries or wages incurred and paid

      9. COST-PROPERTY: Cost of property paid for and consumed

      10. ASSISTANCE.CO: Assistance, benefit or advantage received

      11. REPAYMENT.CO: Assistance, benefit or advantage repaid

      12. SUBCONTRACTOR.CO: Name of subcontractor

      13. STREET.CO: Street of the subcontractor

      14. CITY.CO: City of the subcontractor

      15. PROVINCE.CO: Province of the subcontractor

      16. POSTCODE.CO: Postal code of the subcontractor

      17. QST.CO: QST identification number of the subcontractor

      18. SIN.CO: SIN of the subcontractor

      19. CONS-TOT.CO: Total amount of consideration for contract

      20. CONS-POR.CO: Amount of consideration paid

  8. New options

    1. For the keyword Tax-Reduction , pertaining to Quebec form COZ-1179, Logging Operations Return:

      Reduction of logging tax payable for the tax year
      Carry-over of the reduction to a subsequent tax year

    2. For the keyword Program-Pymt , pertaining to federal form AgriStability and AgriInvest - 2018 Statement A, Corporation/Co-operative and Special Individual:

      674 2016 Canada - Alberta bovine tuberculosis assist.
      675 2016 Canada - Sask. bovine tuberculosis assist.
      676 2016 Canada - AB bovine tuberculosis assist.

    3. For the keyword DeferredIncome , pertaining to federal form AgriStability and AgriInvest - 2018 Statement A, Corporation/Co-operative and Special Individual:

      674 2016 Canada - Alberta bovine tuberculosis assist.
      675 2016 Canada - Sask. bovine tuberculosis assist.
      676 2016 Canada - AB bovine tuberculosis assist.

    4. For the keyword Capital-Ded , pertaining to the new Quebec form CO-1175.13, Agreement Between the Members of a Related Group of Life Insurers Respecting Capital Allowance:

      Agreement among related life insurers - CO-1175.13

    5. For the keyword Tax-Capital , also pertaining to the new Quebec form CO-1175.13:

      Tax. cap. employed in CA for res. life insur. - CO-1175.4
      Tax. cap. employed in CA for NR life insurance - CO-1175.4

  9. Deleted options

    1. For the keyword Construct-Cr , pertaining to the deleted Quebec form CO-1029.8.36.CP, Tax Credit for the Construction of Public Access Roads and Bridges in Forest Areas:

      Construction of access road in forest area - QC
      Construction of bridge in forest area - QC

    2. For the deleted keywords EXPENSEPERIOD and REPAYMENT.CO, pertaining to the deleted Quebec form CO-1029.8.36.CP:

      After Mar. 23, 2006 and before Oct. 23, 2006
      After Oct. 22, 2006 and before Jan. 1, 2011
      After Dec. 31, 2010 and before Jan. 1, 2012
      After Dec. 31, 2011 and before Jan. 1, 2013
      After Dec. 31, 2012 and before Apr. 1, 2013

    3. For the keyword Que-Credits , also pertaining to the deleted Quebec form CO-1029.8.36.CP:

      Construction of access road

    4. For the keyword Oth-Farm-Exp , pertaining to the federal form AgriStability and AgriInvest - 2018 Statement A, Corporation/Co-operative and Special Individual

      Allowance on eligible capital property

 

 

March 28, 2018