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Print this pageForward this document  What's new for T2 Internet version 23.25?

The latest DT Max program update is now available for downloading. It features the T2 program for fiscal periods ending from 2008 to 2020 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). Installing this version will update your version of DT Max to 23.25.

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

In this version...

DT Max T2

  1. Measures regarding tax filing and tax payment deadlines adopted by federal, Quebec and Alberta jurisdictions in light of the current COVID-19 pandemic
  2. Program certification
  3. Version highlights
    1. Known issues fixed in version 23.25
      1. Removal of keyword REDUCEDBUSLIM within the RELATEDPARTY group
    2. QuickTrack - Reminder and new feature
    3. AT1 Return and AT1 Schedule 1: Reduction of the general income tax rate on businesses
    4. Non-deductible automobile expenses: Manitoba retail sales tax rate
    5. Alberta AT1 Schedule 13 - Application of immediate expensing and accelerated investment incentive measures
  4. Revised forms
  5. New keywords
  6. Deleted keywords
  7. New options
  8. Deleted options

 

DT Max T2

  1. Measures regarding tax filing and tax payment deadlines adopted by federal, Quebec and Alberta jurisdictions in light of the current COVID-19 pandemic

    Due to the exceptional and unforeseen social and economic impact of the current COVID-19 pandemic and in order to accommodate the taxpayers, the following jurisdictions have adopted measures to extend their deadlines for tax filing and the payment of tax owing, when applicable.

    Federal

    The CRA has extended its filing and payment deadlines. Please click the links below for details.

    https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2020/extended-filing-deadlines-corporations-trusts.html

    https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/covid-19-filing-payment-dates.html

    Quebec

    Likewise, Revenu Québec has extended its deadlines regarding tax filing and the payment of tax owing. Click the links below for more information.

    https://www.revenuquebec.ca/en/press-room/tax-news/details/167382/2020-05-25/

    https://www.revenuquebec.ca/en/coronavirus-disease-covid-19/faq-for-businesses/summary-tables/

    Alberta

    The filing and payment deadlines for the Alberta corporate income tax return (AT1) have been extended as well. Click the links below to learn more.

    https://open.alberta.ca/publications/corporate-income-tax-special-notice-vol-5-no-57-extension-to-cit-at1-filing-deadline

    https://open.alberta.ca/dataset/61b961a5-0c2c-4972-9b1d-923f8a169b73/resource/e5425a61-c790-4fc2-a6a6-ef16001cac17/download/tbf-special-notice-ct-vol-5-no-57-extension-to-at1-filing-deadline-2020-05-25.pdf

  2. Program certification

    Federal

    Due to the COVID-19 pandemic and the effect it has had on the CRA assessment system update, the CRA has allowed all software developers to implement changes affecting only a limited number of forms with this version of DT Max T2, namely Schedule 200 and Schedule 58.

    For DT Max T2 version 23.25, the federal barcodes and the Corporation Internet Filing module have received CRA approval valid for taxation years ending up to and including October 31, 2020, under the DT40 stamp.

    Alberta

    Likewise, this version has received approval 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 DT40 stamp.

  3. Version highlights

    1. Known issues fixed in version 23.25

      1. Removal of keyword REDUCEDBUSLIM within the RELATEDPARTY group

        The keyword REDUCEDBUSLIM within the RelatedParty group is obsolete and as such has been deleted with this version of DT Max T2.

    2. QuickTrack - Reminder and new feature

      Our popular QuickTrack feature makes the fields of the tax return multifunctional and provides the user with flexibility in preparing and auditing the return. QuickTrack allows the user to "source" amounts appearing on the return by clicking through to the applicable schedules and forms - and ultimately the original keyword entry.

      QuickTrack also allows the user to automatically include in the data entry section of DT Max the required keywords pertaining to any given tax form, simply by selecting the appropriate form from the View or print blank forms option in the View menu, and double-clicking in the relevant fields from the selected form.

      Finally, QuickTrack enables the user to override amounts calculated by DT Max directly on the tax return field and then adjusts the data entry (keywords) accordingly.

      New with this DT Max version 23.25 for T2: by allowing users to quickly find and employ the precise entry point or keyword, QuickTrack facilitates the research of the return field from the CRA's T2 Corporation Income Tax Return Guide and the RQ's Sociétés - Guide de la déclaration de revenus.

      As a result of the implementation of this new QuickTrack feature for T2, a right-click of the mouse on the tax return now displays the following feature:

      Help for this field (Ctrl+F8)

      Note that if the option is greyed out, it is not available for that particular field.

    3. AT1 Return and AT1 Schedule 1: Reduction of the general income tax rate on businesses

      These forms have been revised due to the changes in the general income tax rate on businesses being reduced from 12% to 8% over 4 years. As for the small business tax rate, it remains at 2%.

    4. Non-deductible automobile expenses: Manitoba retail sales tax rate

      The calculations for lines 5, 7 and 8 of the Schedule 1 supplementary Non-deductible Automobile Expenses have been revised due to the reduction of Manitoba's general retail sales tax from 7% to 6% on July 1, 2020.

    5. Alberta AT1 Schedule 13 - Application of immediate expensing and accelerated investment incentive measures

      This form has now been updated by the Alberta government and reflects the adoption of the immediate expensing and accelerated investment incentive measures announced in the 2018 federal Fall Economic Statement.

      These measures allow

      • businesses to immediately write off the cost of machinery and equipment used for the manufacturing and processing of goods, and the cost of specified clean energy equipment;

      • an enhanced first-year capital cost allowance for other capital investments. These investments qualify for a first-year deduction of up to three times the amount that would otherwise be available.

  4. Revised forms

    Federal

    • T2 Corporation Income Tax Return (2019 and later tax years)

      This form has been updated to capture new line 798, Canadian journalism labour tax credit from Schedule 58, for barcode and EFILE purposes.

    • Schedule 58 - Canadian Journalism Labour Tax Credit (2019 and later tax years)

      This form allows a corporation which is designated as a qualified Canadian journalism organization (QCJO) to claim a refundable tax credit. The tax credit is a 25% refundable tax credit on the total qualifying labour expenditure incurred in respect of each eligible newsroom employee in respect of the portion of the tax year throughout which the corporation is a qualifying journalism organization.

      Qualifying labour expenditures are subject to an annual cap of $55,000 per eligible newsroom employee that may qualify for the credit. Thus, the maximum credit available is $13,750 per eligible newsroom employee per year, for qualifying labour expenditure incurred for a period beginning on or after January 1, 2019.

      Use the keyword Journalism-TaxCr with the option “Canadian journalism labour tax credit” to enter information pertaining to this new schedule. The information on this schedule will now be transmitted to CRA when paper filing (barcode return) or efiling.

    • T2WS1 - Calculating estimated tax payable and tax credits for 2020 (N.B.: No calculation support is available for this form.)

    • Worksheet 2 - Calculating your monthly instalment payments for 2020

    • Worksheet 3 - Calculating your quarterly instalment payments for 2020

    • AgriStability and AgriInvest - 2020 Statement A - Corporation/Co-operative and Special Individual

    • T1375 - AgriStability and AgriInvest Additional Information and Adjustment Request (N.B.: No calculation support is available for this form.)

    Quebec

    • CO-400 - Resource Deduction (N.B.: English version is now available for this Quebec form.)

    Alberta

    • AT1 Alberta Corporate Income Tax Return - AT1 for 2004 and Subsequent Taxation Years

    • AT1 Schedule 1 - Alberta Small Business Deduction

    • AT1 Schedule 13 - Alberta Capital Cost Allowance (CCA)

    • Alberta Consent Form

      This form has been revised and now an authorization and cancellation of a representative can be done on the same copy of the form.

      In Part 2, Authorize a Representative, a new line has been added for the online access option and a new line has been added for the e-mail address. Lines pertaining to the address have been deleted.

      In Part 3, Details of New Authorization, three new program lines have been added: Vaping Products Tax, Tobacco Tax and Fuel Tax.

      Part 4, Cancel Representative(s), is completely new and allows you to cancel all representatives or cancel a specific representative.

      In Part 5, Certification, lines have been added to specify if the individual signing this form is an owner, corporate director or an individual with delegated authority. Also, an e-mail address line has been added.

    In-house forms

    • Executive summary for 2020 taxation year

      Two new lines were added on the in-house executive summary:

      NERDTOH - end of year
      ERDTOH - end of year

    • Carryforward Schedules (Multi-jurisdictions and Quebec)

      Two new lines were added on both in-house carryforward schedules:

      NERDTOH at the end of the year from Schedule 200 line 545
      ERDTOH at the end of the year from Schedule 200 line 530

  5. New keywords

    1. In the CorpOfficers group, pertaining to the Alberta Consent Form:

      1. Type-Officer : Type of individual with proper authority for the business (for AB consent, if applicable)

        If you are generating the Alberta Consent Form, it must only be signed by an individual with proper authority for the business, for example, an owner, a partner of a partnership, a corporate director, a trustee of an estate, or an individual with delegated authority. An authorized representative cannot sign this form unless they have delegated authority.

    2. In the Journalism-TaxCr group, pertaining to federal Schedule 58, Canadian Journalism Labour Tax Credit:

      1. QJO-Period : Period in current year throughout which the corporation is a qualifying journalism organization

        Use the keyword QJO-Period to indicate the start and end date period in the current year throughout which the corporation is a qualifying journalism organization.

      2. Cred-Alloc : Amount of credit allocated from a partnership

        Use the keyword Cred-Alloc to enter the amount of Canadian journalism labour tax credit that is allocated to the corporation that is a member of a partnership that is a QJO.

      3. PublishersAid : Amount received from Aid to Publishers component of Canada Periodical Fund

        Publishers and media organizations that receive funding from the Aid to Publishers component of Canada Periodical Fund are eligible for the credit. However, the credit will be reduced by the amount they are entitled to receive in the year from Aid to Publishers.

        Use the keyword PublishersAid to enter the amount received from Aid to Publishers component of Canada Periodical Fund in the year.

  6. Deleted keywords

    1. In the RelatedParty group:

      1. REDUCEDBUSLIM: Reduced business limit

    2. In Journalism-TaxCr group pertaining to federal Schedule 58, Canadian Journalism Labour Tax Credit:

      1. ELIGIBLECORP: Whether the corp. is eligible to claim Canadian journalism labour tax credit

  7. New options

    1. For the keyword Tax-Inc-Ded pertaining to the Quebec Corporation Income Tax Return CO-17:

      Commercialization of innovations in Québec

    2. For the keyword Que-Credits , also pertaining to the Quebec Return CO-17:

      Investments and innovation
      Persons with severely limited capacity - SME
      Synergy capital

    3. For the keyword Special-Tax , also pertaining to the Quebec Return CO-17:

      97 Investment and innovation
      98 Persons with severely limited capacity - SME
      100 Commercialization of innovations in Québec
      101 Synergy capital

    4. For the keyword Type-Officer pertaining to the Alberta Consent Form:

      Corporate director
      Individual with delegated authority
      Owner

    5. For the keyword Account , also pertaining to the Alberta Consent Form:

      Vaping Products Tax (Alberta)

    6. For the keyword Commodity , pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A - Corporation/Co-operative and Special Individual:

      Hops

    7. For the keywords PurchaseInputs , DeferredIncome and AccountsPayable , also pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A - Corporation/Co-operative and Special Individual:

      383 Hops

    8. For the keyword DeferredIncome , also pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A... :

      680 2018 Canada - PEI fall harvest recovery initiative
      681 Insurance proceeds for allowable commodities
      407 Private hail insurance

    9. For the keyword Crop-Inventory$ , also pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A... :

      7103 Perennials, 2.5 inch
      7140 Perennials, 7 gallon, field/container
      7142 Perennials, 10 gallon, field/container
      7144 Perennials, 15 gallon, field/container
      7146 Perennials, 25 gallon, field/container
      7148 Perennials, 30 gallon, field/container

    10. For the keyword Program-Pymt , also pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A... :

      680 2018 Canada - PEI fall harvest recovery initiative
      681 Insurance proceeds for allowable commodities
      407 Private hail insurance

    11. For the keyword Add-Livestock , also pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A... :

      180 Hogs, gilts (# sold)

  8. Deleted options

    1. From the keyword Account pertaining to the Alberta Consent Form:

      Tax exempt fuel users (Alberta)
      Prescribed rebate offroad percentages (Alberta)

    2. From the keyword DeferredIncome , pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A - Corporation/Co-operative and Special Individual:

      624 Canada - British Columbia Excess Moisture Initiative
      625 Canada - BC Feed Assistance & Pasture Restoration
      668 Nova Scotia Strawberry Assistance Initiative

    3. From the keyword Program-Pymt , also pertaining to the federal form AgriStability and AgriInvest - 2020 Statement A... :

      624 Canada - British Columbia Excess Moisture Initiative
      625 Canada - BC Feed Assistance & Pasture Restoration
      668 Nova Scotia Strawberry Assistance Initiative

 

 

June 10, 2020