What's new for T2 Internet version 25.15?

The latest DT Max program update is now available for downloading. It features the T2 program for fiscal periods ending from 2009 to 2022 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). Installing this version will update your version of DT Max to 25.15.

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

In this version...

DT Max T2

1. Version highlights
   1. Client suggestions implemented in version 25.15
      1. Warning message displayed when GIFI-FIELD 3700 or 3701 exists but no DIVIDENDPAID keyword group
      2. Alberta refund code different from federal refund code
   2. Known issues fixed in version 25.15
      1. Incorrect amount on line 110 of federal Form T2054
   3. T1134(2021) redesigned - Information Return Relating to Controlled and Non-Controlled Foreign Affiliates (2021 and later taxation years)
      1. Significant keywords related to the T1134
      2. Related options
   4. T1134 e-submissions
   5. CO-737.SI: Changes affecting data entry
2. New forms
3. Revised forms
4. Deleted forms
5. New keywords
6. Deleted keywords
7. New options
8. Deleted options

DT Max T2

1. Version highlights

   1. Client suggestions implemented in version 25.15

      1. Warning message displayed when GIFI-FIELD 3700 or 3701 exists but no DIVIDENDPAID keyword group

         A new warning message has been added in the data entry screen when an entry exists for GIFI-Field 3700 or 3701 under Balance sheet within the GIFI group, but no entry exists for the DividendPaid keyword group.

      2. Alberta refund code different from federal refund code

         A new keyword AB-RefundCode within the RefundCode group has been added for Alberta jurisdictions that will allow the entry of an Alberta refund code that differs from the federal refund code. The applicable options for AB-RefundCode keyword are "Claim refund" or "Future tax liability".

   2. Known issues fixed in version 25.15

      1. Incorrect amount on line 110 of federal Form T2054

         DT Max T2 was taking the balance amount from subtotal 6F of Schedule 89 and ignored the historical payouts made by the corporation which reduced the CDA balance available. This has been fixed in version 25.15.

   3. T1134(2021) redesigned - Information Return Relating to Controlled and Non-Controlled Foreign Affiliates (2021 and later taxation years)

      The T1134 form has been modified considerably with a significant number of new fields. A new group filing method has also been introduced for reporting entities that are members of a related group that share the same taxation year end. One set of T1134 forms (summary and supplements) on behalf of the entire group may now be filed.

      Foreign affiliate sequential numbers have been introduced to ensure the mapping of every occurrence of the same entity on the form to each other.

      After 2020, the form is due within 10 months after the end of the taxation year, as opposed to its 15 months current due date.

      Due to the extensive redesign of the form, important changes were required to the Foreign-Info keyword group. A thorough review of any existing data entries will be required in order to properly complete the form.

      1. Significant keywords related to the T1134

         Org-Structure : Reporting entity, related entities and foreign affiliates

         Use the keyword Org-Structure to enter the reporting entity, related entities and foreign affiliates. This is information required to complete Section 3, Organizational structure.

         The SIN, business, trust or partnership number entered in this group is linked to the number entered in the RelatedEntity group in order to complete one or more T1134 Supplements.

         Affiliate-Id : Name of foreign affiliate

         Use the keyword Affiliate-Id to enter the name of the foreign affiliate. A separate supplement will be produced for each foreign affiliate identified with this keyword.

         RelatedEntity : Reporting entity and related Canadian entities

         Use the keyword RelatedEntity to select the reporting entity and to enter the SIN, business number, trust account number or partnership account number as applicable of the related Canadian entity. The number must be an exact match to the entry for the entity in the Org-Structure group.

         This information is required to complete the T1134 Supplement.

      2. Related options

         For the keyword Foreign-Info :

         T1134 - Not controlled foreign affiliates

         This option is relevant in the completion of the information return relating to foreign affiliates that are not controlled foreign affiliates. A separate supplement must be completed for each foreign affiliate.

         T1134 - Controlled foreign affiliates

         This option is relevant in the completion of the information return relating to controlled foreign affiliates. A separate supplement must be completed for each foreign affiliate.

         T1134 - Dormant or inactive foreign affiliate

         This option is relevant for the completion of information returns for dormant or inactive foreign affiliates.

         For the keyword Org-Structure within the Foreign-Info group, pertaining to the T1134:

         Reporting entity
         Section 3A i)- individuals within related Canadian group
         Section 3A ii)- corporations within related Canadian group
         Section 3A iii)- trusts within the related Canadian group
         Section 3A iv)- partnerships within related Canadian group
         Section 3C i)- related corporations in organization chart
         Section 3C ii)- foreign affiliate with equity in other FA
         Section 3C iv)- partnerships of the foreign affiliate
         Section 3D - dormant FA not entered in section 3C i) & ii)
         Section 3E - lower-tier non-controlled foreign affiliate
         Individual within related Canadian group
         Corporation within related Canadian group
         Trust within the related Canadian group
         Partnership within related Canadian group
         

   4. T1134 e-submissions

      The DT Max T2 software has been certified for the electronic submission of the new T1134 form.

      The new T1134 form can now be transmitted under the 2021 and 2022 taxation year.

   5. CO-737.SI: Changes affecting data entry

      Due to the implementation of new form CO-737.18.CI, Deduction Respecting the Commercialization of Innovations in Quebec (Déduction relative à la commercialisation d'innovations au Québec), the group header keyword INNOVATIVE-MFG which opens up the group to enter information pertaining to Quebec Form CO-737.SI has been changed to Innovative-Corp . No changes are needed on the user end as this will be done automatically.

2. New forms

   Quebec

   • CO-737.18.CI - Deduction Respecting the Commercialization of Innovations in Quebec (Déduction relative à la commercialisation d'innovations au Québec) (N.B.: This form is currently available in French only.)

     This new form is intended for any corporation that, for a taxation year that begins after December 31, 2020, claims a deduction in the calculation of its taxable income in respect of the commercialization of a qualified intellectual property asset.

     In short, the IDCI, which takes the form of a deduction in calculating the taxable income of a qualifying innovative corporation for a taxation year beginning after December 31, 2020, enables such a corporation that commercializes a qualified intellectual property asset developed in Quebec to benefit from an effective tax rate of 2% on the qualified portion of its taxable income attributable to that qualified intellectual property asset.

     The keyword Innovative-Corp with the option "Commercialization of innovations deduction - CO-737.18.CI" opens up the group to enter information relating to this new Quebec form.

   • RD-1029.8.6.A - University Research Contract or Contract for Research Carried Out by an Eligible Public Research Centre or an Eligible Research Consortium (Contrat de recherche universitaire ou contrat de recherche effectuée par un centre de recherche public admissible ou par un consortium de recherche admissible) (N.B.: This form is currently available in French only.)

     This new form is intended for all taxpayers claiming the tax credit for university research or research carried out by a public research centre or a research consortium. You must complete a copy of this form for each research contract for which the taxpayer is claiming this tax credit and attach it to the form Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium (RD-1029.8.6).

     If you select "Yes" for the keyword Contract-Info within the SR&EDTaxCrQ keyword group, DT Max will allow you to enter information relating to this new Quebec form.

3. Revised forms

   Federal

   • Schedule 321 - Prince Edward Island Corporate Investment Tax Credit (2018 and later taxation years)

     This form has been updated by the CRA and, as such, the option "8th prior year" has been added for both keywords PEIITC-CF and CR-Trans when the keyword ProvITC-CF with the option "M&P equipment ITC - P.E.I." have been chosen.

   • Schedule 387 - Manitoba Small Business Venture Capital Tax Credit (2021 and later taxation years)

     For tax years ending after April 6, 2021, the credit is enhanced by increasing:

     • the maximum eligible investment by an investor from $450,000 to $500,000;

     • the maximum annual tax credit that can be claimed from $67,500 to $120,000.

     These changes have been included in this version of DT Max T2.

   • Schedule 444 - Yukon Business Carbon Price Rebate (2022 and later taxation years)

     Businesses in the Yukon will continue to receive their carbon rebate as a refundable credit when they complete their tax return. This credit is based on a weighting of assets, which includes incentives for investments in green technologies and equipment. The business rebate will increase significantly over 2021-22, rising from $8.81 to $39.62 per $1,000 of eligible assets. This is largely the result of unclaimed rebates in the previous year.

     Accordingly, this form has been updated in order to revise the business rebate factor in Part 3 Line 500 for tax years ending after March 31, 2022.

   • T1134 - Information Return Relating To Controlled and Non-Controlled Foreign Affiliates (2021 and later taxation years)

   Quebec

   N.B.: English versions are now available for the Quebec forms below.

   • CO-1029.8.33.6 - Tax Credit for an On-the-Job Training Period (for expenditures incurred before May 1, 2022)

   • CO-1029.8.36.DA - Tax Credit for the Development of E-Business

   • CO-1029.8.36.DF - Tax Credit for Film Dubbing

   • CO-1029.8.36.EL - Tax Credit for Book Publishing

   • CO-1029.8.36.II - Tax Credit for Investment and Innovation

   • CO-1029.8.36.XM - Tax Credit for the Production of Multimedia Events or Environments Presented Outside Quebec

   • CO-1159.2 - Compensation Tax for Financial Institutions

   In-house forms

   • Client letter

     The client letter has been modified due to the deletion of Quebec form CO-1029.8.36.PX.

4. Deleted forms

   Quebec

   • CO-1029.8.36.PC - Tax Credit for Major Employment-Generating Projects

   • CO-1029.8.36.PX - Agreement Respecting the Tax Credit for Major Employment-Generating Projects

5. New keywords

   1. In the Innovative-Corp group, pertaining to new Quebec Form CO-737.18.CI:

      1. Return-Estim-Info : Information on estimate of the routine return

         Use the keyword Return-Estim-Info to enter the information relating to the letter D of the first component of the formula for calculating the incentive deduction for the commercialization of innovations in Quebec which is {[A x (B/C)] - D}.

         The element corresponding to the letter D is designed to subtract, from the qualified profits, an estimate of the routine return incorporated in the income that is not attributable to a qualified intellectual property asset. Where the gross income from the commercialization of a qualified intellectual property asset consists of a royalty or an amount obtained as damages from judicial remedies, the letter D is deemed to be zero in respect of that income.

      2. R&D-Activities : Amount of R&D activities

         Use the keyword R&D-Activities to enter the information relating to the second component of the formula for calculating the incentive deduction for the commercialization of innovations (IDCI) in Quebec which is (E/F).

         This component of the formula for calculating the IDCI takes into account the extent of the R&D activities carried out in Quebec by the qualified innovative corporation. The nexus ratio is calculated on a cumulative basis, according to a moving average including the particular taxation year and the preceding six years.

      3. Bus%-QC : Proportion of business carried on in Quebec

         Use the keyword Bus%-QC to enter the proportion of business carried on in Quebec for a particular taxation year from either form CO-771.R.3 or form CO-771.R.14, as applicable.

      4. QualifiedProp : Description of the qualified intellectual property asset

         Use the keyword QualifiedProp to enter a description of the qualified intellectual property asset.

      5. R&D-TaxYear : Tax year for which Part 3.1 of form CO-737.18.CI is completed

         Part 3.1 of form CO-737.18.CI must be completed for the relevant tax year as well as for each of the preceding six tax years.

         Use this keyword to choose the applicable year.

      6. NumberYears-OV : Number of tax years - line 70/ov

         Use NumberYears-OV to override the number of tax years included in the period that begins on the first day of the tax year during which the corporation incurred these R&D expenditures for the first time and ends on the last day of the relevant tax year that is automatically calculated by DT Max on line 70 of Quebec form CO-737.18.CI.

   2. In the SR&EDTaxCrQ group, pertaining to the new Quebec Form RD-1029.8.6.A:

      1. StartDate-Work : Start date of the work

         Use the keyword StartDate-Work to enter the start date of the research work.

      2. EndDate-Work : End date of the work

         Use the keyword EndDate-Work to enter the end date of the research work.

      3. Name.co : Name of the main researcher

         Use the keyword Name.co to enter the name of the main researcher mentioned in the contract.

      4. Exp-Incurred : Whether the expenses were incurred following a change or an extension of a contract.

         Use the keyword Exp-Incurred to indicate whether or not whether the eligible expenses that give rise to the tax credit for university research or research carried out by a public research centre or by a research consortium were incurred following a change or an extension of a contract.

      5. Terminate-Con : Whether or not the contract provides that the corp. can terminate the contract in the event of the departure of the main researcher

         Use the keyword Terminate-Con to indicate whether or not the contract provides that the corporation can immediately terminate the contract in the event of the departure of the main researcher for any given reason.

      6. Joint-Obligation : Main researcher has a joint obligation w/ research entity to carry out research work

         Use the keyword Joint-Obligation to indicate whether or not the main researcher has a joint obligation with the research entity to carry out the research work.

      7. NEQ.na : Quebec enterprise number (NEQ) of the stakeholder, subcontractor or party to the contract

         Use the keyword NEQ.na to enter the Quebec enterprise number (NEQ) of the stakeholder, subcontractor or party to the contract.

      8. Amount.na : Budgeted amounts

         For each party to the contract, enter the budgeted amounts that correspond to the amounts they should pay to the university entity under the contract.

         For each of the subcontractors and stakeholders, enter the budgeted amounts that correspond to the amounts they should receive to carry out the work under the contract.

      9. Name-Project : Name of the research project

         Use the keyword Name-Project to enter the name of the research project.

      10. Name-Party : Name of stakeholders, subcontractors and parties to the contract

          Use the keyword Name-Party to enter the name of the stakeholders, subcontractors and parties to the contract.

      11. ResearchProject : Research projects provided for in the contract as well as the clause numbers of this contract

          Use the keyword ResearchProject to enter each of the research projects provided for in the contract as well as the numbers of the clauses of this contract that describe these projects. Demonstrate how the research project relates to the corporation's business. If there is more than one eligible research entity, you must also indicate the work carried out by each of them.

      12. R&D-Benefits : Ways in which the corporation benefits from the contracted R&D activities and numbers of the clauses

          Use the keyword R&D-Benefits to describe each of the ways in which the corporation benefits from the contracted R&D activities (for example, obtaining reports, having an interest in the results of the project, or holding a licence or an option to enter into a licence) and enter the numbers of the relevant clauses of the contract.

      13. Cash-Payment : Cash payment made under the contract as well as the numbers of clauses

          Use the keyword Cash-Payment to enter each cash payment made under the contract as well as the numbers of the relevant clauses.

      14. Source-Funding : Sources of funding, as well as all the assistance and contributions received

          Use the keyword Source-Funding to enter all sources of financing, as well as all the assistance and all contributions received by the corporation, which have been used to pay, in whole or in part, the consideration respecting this contract.

      15. Contract : Information on the research contract

          Use the keyword Contract to enter the information on the research contract pertaining to Quebec Form RD-1029.8.6.A.

      16. Contract-Info : RD-1029.8.6.A filing information

          Use the keyword Contract-Info to indicate whether you would like to enter the applicable keywords needed for Quebec form RD-1029.8.6.A.

      17. Clause-Numbers : Contract's clause numbers

          Use the keyword Clause-Numbers to enter the contract's clause numbers relating to the option chosen within the keyword Contract .

   3. In the RefundCode group, pertaining to the Alberta AT1 return:

      1. AB-RefundCode : Code for refund of Alberta taxes, if different from fed.

         Use AB-RefundCode if the refund code desired for this corporation's Alberta income tax refund is different from the code chosen in either your setup of user defaults or the code chosen for federal purposes.

6. Deleted keywords

   1. From the RelatedParty group, pertaining to deleted Quebec Form CO-1029.8.36.PX:

      1. Employees-Alloc.re: Number of eligible employees allocated to associated corporation

   2. From the RelatedParty group, pertaining to deleted Quebec Form CO-1029.8.36.PC:

      1. EBusiness-Cr: Whether the associated corporation elected to claim the tax credit for the development of e-business

   3. From the Job-Creation group, also pertaining to deleted Quebec Form CO-1029.8.36.PC:

      1. StartDate-Act: Start date of the activities carried out under the contract

      2. CreditRate.j: Applicable credit rate for the year in which the wages were incurred

      3. Employ-Alloc-OV: Number of eligible employees - override

7. New options

   1. For the keyword Innovative-Corp , pertaining to the new Quebec Form CO-737.18.CI:

      Commercialization of innovations deduction - CO-737.18.CI

   2. For the keyword Return-Estim-Info , also pertaining to the new Quebec Form CO-737.18.CI:

      Gross income from commercialization of asset for the year
      Royalty regarding the asset
      Damages from judicial remedies regarding the asset
      R&D expenditures of a current nature deducted in tax year
      

   3. For the keyword R&D-Activities , also pertaining to the new Quebec Form CO-737.18.CI:

      Qualif. exp. in respect of a research contract - LN(45)
      Consideration to a subcontr. at arm's length in QC - LN(48)
      Qualifying expenditures out of QC - LN(51)
      Consideration - subcontr. at arm's length out QC - LN(51a)
      Consideration - subcontr. arm's length QC + elsew. - LN(56)
      Salaries paid to empl. of an establishment QC - LN(60)
      Salaries paid to empl. of an establ. out of QC - LN(60)
      Consideration - subcontr. not at arm's length QC - LN(61)
      Consideration - subcontr. not arm's length out QC - LN(61)
      

   4. For the new keyword Contract , pertaining to new Quebec Form RD-1029.8.6.A:

      Contract that modifies or extends an existing contract
      Framework contract where sub-contracts concluded later date
      Period during which research work was carried out
      Contrat - establish/continue a research chair
      Contract carried out by res. entity as part of chair's act.
      Contract specifies res. entity will perform R&D work in QC
      Main researcher in the contract
      Exp. incurred under contract incurred in QC by res. entity
      Corp. contr. to research project limited to cash pymts
      Corp. contr. to research project not limited to cash pymts
      

8. Deleted options

   1. From the keyword Letter-Data , pertaining to deleted Quebec Form CO-1029.8.36.PX:

      CO-1029.8.36.PX - Agreement major employment-generating projects

   2. From the keyword Job-Creation.re , also pertaining to deleted Quebec Form CO-1029.8.36.PX:

      Eligible for major employment-generating project credit
      Not eligible for major employment-generating project credit
      

   3. From the keyword Job-Creation , pertaining to deleted Quebec Form CO-1029.8.36.PC:

      Major employment-generating projects (before June 5, 2014)
      Major employment-generating projects (after June 4, 2014)
      

   4. From the keyword Tax-Inc-Ded , pertaining to Quebec Forms CO-17 and CO-771:

      Commercialization of innovations in Quebec