What's new for T2 Internet version 25.35?

The latest DT Max program update is now available for downloading. It features the T2 program for fiscal periods ending from 2011 to 2022 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). Installing this version will update your version of DT Max to 25.35.

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

In this version...

DT Max T2

1. Program certification
2. Version highlights
   1. Known issue with the T2 Auto-fill service fixed in version 25.35
   2. Federal Schedule 8, AT1 Schedule 13 and Quebec Form CO-130.A
      1. Increase of the ceiling for CCA for passenger vehicles and zero-emission passenger vehicles
      2. Updates for federal Schedule 8, Alberta AT1 Schedule 13 and Quebec Form CO-130.A
   3. Reminder from Revenu Québec - Paper Form CO-1012 received by mail and having already been processed electronically
3. New forms
4. Revised forms
5. New keywords
6. Revised keywords
7. New options

DT Max T2

1. Program certification

   Federal

   Version 25.35 of DT Max has received certification for the implementation of the revised federal Schedule 8, which includes the temporary measure relating to the immediate expensing for Canadian-controlled private corporations (CCPC).

   Also, please note that the CRA encountered delays in informing software developers of this change. Should additional developments or issues arise, either at the federal or provincial level, they will be addressed within a subsequent DT Max release.

2. Version highlights

   1. Known issue with the T2 Auto-fill service fixed in version 25.35

      An issue was fixed with the T2 Auto-fill service, where in some cases the software returned a Failed error message after attempting to download data.

   2. Federal Schedule 8, AT1 Schedule 13 and Quebec Form CO-130.A

      1. Increase of the ceiling for CCA for passenger vehicles and zero-emission passenger vehicles

         Following the government announcement on December 23, 2021, the ceiling for CCA for zero-emission passenger vehicles will increase from $55,000 to $59,000 and the ceiling for CCA for passenger vehicles will increase from $30,000 to $34,000 effective as of January 1, 2022. These changes have been implemented on Federal Schedule 8, AT1 Schedule 13 and Quebec Form CO-130.A.

      2. Updates for federal Schedule 8, Alberta AT1 Schedule 13 and Quebec Form CO-130.A

         For Schedule 8

         The form has been updated to reflect the immediate expensing incentive, as first announced in the 2021 federal budget. If an eligible person or partnership (EPOP) is a Canadian-controlled private corporation, property can qualify as designated immediate expensing property (DIEP) if, among other conditions, it is acquired after April 18, 2021. The following part has been changed:

         Addition of new Part 1 - Agreement between associated eligible person or partnerships (EPOPs)

         In Part 2, the following columns were added:

         Column 4 (line 232) for the cost of acquisitions that are DIEP;
         Column 9 (line 234) for the proceeds of dispositions of the DIEP;
         Column 11 (line 236) for UCC of the DIEP;
         Column 12 (line 238) for the immediate expensing;
         Column 13 for cost of acquisition on remainder of class;
         Column 15 for remaining UCC.

         For AT1 Schedule 13

         At this time, an updated version of Alberta Schedule 13 has not been released. However, the immediate expensing calculations have been incorporated on the current AT1 Schedule 13 in this version of DT Max T2.

         For CO-130.A

         As for Quebec, the immediate expensing calculations have also been incorporated on the CO-130.A with the inclusion of the two new Quebec Forms CO-130.AD and TP-130.EN.

         Please take note that for version 25.35 of DT Max, the in-house rental schedule has not been updated. However, the immediate expensing calculations have been included in this version. Full implementation of these measures will be included in the upcoming version of DT Max T2.

   3. Reminder from Revenu Québec - Paper Form CO-1012 received by mail and having already been processed electronically

      Revenu Québec currently receives a large volume of CO-1012 forms in paper version by mail. These files are 95% already processed via EFILE. Once a corporation has electronically submitted Form CO-1012, they should not submit this form by mail thereafter.

3. New forms

   Quebec

   • CO-130.AD - Capital Cost Allowance In Respect of Immediate Expensing Property (Déduction pour amortissement à l'égard de biens relatifs à la passation en charges immédiate) (N.B.: This form is currently available in French only.)

     This new form is intended for any corporation claiming capital cost allowance in respect of immediate expensing property in calculating its income earned from a business or property for a taxation year .

     A corporation can benefit from this deduction if it is a Canadian-controlled private corporation (CCPC) throughout the tax year.

     To qualify for this deduction, a property of a corporation must be designated immediate expensing property (hereinafter referred to as DIEP) for the tax year. The designation must be made no later than 12 months after the due date for filing the return for the taxation year in question.

     The keyword group CCA-Class has the applicable keywords that are necessary to enter information regarding immediate expensing property.

   • TP-130.EN - Agreement Regarding the Immediate Expensing Limit (Entente relative au plafond de passation en charges immédiate) (N.B.: This form is currently available in French only.)

     This new Quebec form is intended for any corporation that is associated, in a taxation year, with another eligible person or partnership and which must determine the immediate expensing limit that will be used to establish the capital cost allowance in respect of immediate expensing property.

     In order for such a corporation to determine this limit, the associated eligible persons or partnerships must agree among themselves on how to allocate the immediate expensing limit of $1.5 million.

     The keyword CCA-Agreement opens the group to enter information regarding the Agreement Regarding the Immediate Expensing Limit.

4. Revised forms

   Federal

   • Schedule 8 - Capital Cost Allowance (CCA) (2021 and later tax years)

   • Schedule 17 - Credit Union Deductions (2022 and later tax years)

     This form has been updated by the CRA. In Part 3 of the form, Manitoba, references to days in the tax year in 2020 have been deleted.

   • Schedule 63 - Return of Fuel Charge Proceeds to Farmers Tax Credit (2021 and later tax years)

     This form has been updated by CRA to reflect certain changes.

     In Part 1 of the form, Gross eligible farming expenses, line 80 which refers to the total farming expenses deducted in calculating net income from farming for income tax purposes will now be transmitted to CRA. This replaces the amount on the previous version of Schedule 63 which used to refer to total farming expenses on line 9898 from Schedule 125, Income Statement Information, which was incorrect.

     Use the keyword Farm-Exp-Ded within the FuelCharge-Cr group to enter an amount at line 80.

   • Schedule 322 - Prince Edward Island Corporation Tax Calculation (2022 and later tax years)

     Part 2 of the form, Prince Edward Island tax before credits, has been revised. Lines referring to days in the tax year after December 31, 2019, and before January 1, 2021, have been deleted.

   • Schedule 346 - Nova Scotia Corporation Tax Calculation (2022 and later tax years)

     Part 2 of the form, Nova Scotia tax before credits and Nova Scotia offshore tax, has been revised. Lines referring to days in the tax year before April 1, 2020, for both tax at the lower rate and tax at the higher rate have been removed.

   • Schedule 443 - Yukon Corporation Tax Calculation (2022 and later tax years)

     This form has been updated. Lines referring to days in the tax year before January 1, 2021, have been deleted.

   • Schedule 461 - Northwest Territories Corporation Tax Calculation (2022 and later tax years)

     This form has been updated. Lines referring to days in the tax year before January 1, 2021, have been deleted.

   • Schedule 570 - Ontario Regional Opportunities Investment Tax Credit (2021 and later tax years)

     The Regional Opportunities Investment Tax Credit is a 10 per cent refundable corporate income tax credit available to Canadian-controlled private corporations that make qualifying investments in eligible geographic areas of Ontario. The tax credit is available for eligible expenditures in excess of $50,000 and up to $500,000 in a year, for investments that become available for use on or after March 25, 2020.

     The government temporarily doubled the tax credit rate in the 2021 Budget from 10 per cent to 20 per cent for eligible expenditures on assets that become available for use in the period beginning on March 24, 2021, and ending before January 1, 2023. In the 2022 Budget, the government is extending the temporary enhancement period by one year. The enhanced credit of 20 per cent would be available for eligible expenditures in excess of $50,000 and up to $500,000 for property that becomes available for use in the corporation's taxation year, and in the period beginning on March 24, 2021, and ending before January 1, 2024.

     This form has been updated to reflect the above changes.

   • T2WS1 - Worksheet 1 - Calculating your estimated tax payable and tax credits for 2023

     Please note that this form has no calculation support.

   In-house forms

   • Client letter

5. New keywords

   1. In the new group CCA-Agreement , pertaining to federal Schedule 8:

      1. Bus-Num-Fed.epop : Federal business number of CCPC (EPOP)

         Where the eligible person or partnership (EPOP) is a Canadian-controlled private corporation (CCPC), enter the federal business number of the CCPC here.

      2. PIN-ID.epop : Federal partnership account number (EPOP)

         Where the eligible person or partnership (EPOP) is a Canadian partnership, enter the federal partnership account number here.

   2. In the new group CCA-Agreement , pertaining to Quebec Form TP-130.EN:

      1. Ident-Num.epop : Quebec identification number of CCPC (EPOP)

         Where the eligible person or partnership (EPOP) is a Canadian-controlled private corporation (CCPC), enter the Quebec identification number of the CCPC here.

      2. QC-PIN-ID.epop : Quebec partnership identification number (EPOP)

         Where the eligible person or partnership (EPOP) is a Canadian partnership, enter the Quebec partnership identification number here.

      3. YearEnd.epop : Taxation year or fiscal year end date

         Use the keyword YearEnd.epop to enter the taxation year or fiscal year end date. This information is needed for purposes of Quebec Form TP-130.EN.

      4. Street.epop : Street of eligible person or partnership (EPOP)

         Use the keyword Street.epop to enter the street of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec Form TP-130.EN.

      5. City.epop : City of eligible person or partnership (EPOP)

         Use the keyword City.epop to enter the city of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec Form TP-130.EN.

      6. Province.epop : Province of eligible person or partnership (EPOP)

         Use the keyword Province.epop to enter the province of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec Form TP-130.EN.

      7. PostCode.epop : Postal code of eligible person or partnership (EPOP)

         Use the keyword PostCode.epop to enter the postal code of the eligible person or partnership (EPOP). This information is needed for purposes of Quebec Form TP-130.EN.

      8. Sign-Date.epop : Signing date and title of signing officer

         Use the keyword Sign-Date.epop to enter the signing date as well as the title of the signing officer for the eligible person or partnership (EPOP).

   3. In the new group CCA-Agreement , pertaining to both federal Schedule 8 and Quebec Form TP-130.EN:

      1. SIN.epop : Social insurance number of individual (EPOP)

         Where the eligible person or partnership (EPOP) is a Canadian-resident individual, enter the social insurance number here.

      2. Assigned% : Percentage of immediate expensing limit assigned to each associated eligible person or partnership (EPOP)

         Use the keyword Assigned% to enter the percentage of the immediate expensing limit assigned to each associated eligible person or partnership (EPOP). This percentage will be used to allocate the immediate expensing limit. The total of all percentage assigned under the agreement should not exceed 100%. If it does exceed 100%, then the associated group has an immediate expensing limit of nil.

      3. CCA-Agreement : Whether immediate expensing limit agreement applies between associated eligible person or partnerships (EPOPS)

         Use the keyword CCA-Agreement and select "Yes" if the corporation is associated in the tax year with one or more EPOPs with which the corporation has entered into an agreement under subsection 1104(3.3) of the Regulations. By selecting "Yes", you will be able to enter information regarding the immediate expensing limit agreement of $1,500,000. Immediate expensing is available in the year in which eligible property becomes available for use. The $1.5 million immediate expensing limit per taxation year must be shared among members of an associated group of eligible persons or partnerships and prorated for short taxation years. No carryforward will be available if the full $1.5 million immediate limit is not used in a particular taxation year.

      4. Name-EPOP : Name of eligible person or partnership (EPOP)

         Use the keyword Name-EPOP to enter the name of the eligible person or partnership (EPOP).

         An eligible person or partnership means

         • a corporation that was a Canadian-controlled private corporation throughout the year;
         • an individual (other than a trust) who is resident in Canada throughout the year; or
         • a Canadian partnership where all the members are CCPC's, Canadian-resident individuals (other than trust), or a combination thereof.

         To qualify as an EPOP, the person or partnership must satisfy the qualifications and maintain their status throughout the year. Multi-tiered partnerships are excluded.

      5. Immed-Exp-LimOV : Immediate expensing limit allocated to corporation in current tax yr/ov

         Use the keyword Immed-Exp-LimOV to override the amount of this corporation's immediate expensing limit for CCA purposes.

         DT Max will otherwise calculate the limit based on information entered in Assigned% keyword for all EPOPs within the CCA-Agreement group.

   4. In the FuelCharge-Cr group, pertaining to federal Schedule 63:

      1. Farm-Exp-Ded : Amount of farming expenses deducted

         Use the keyword Farm-Exp-Ded to enter the total farming expenses that represent amounts deducted in calculating net income from farming for income tax purposes.

   5. In the CCA-Class group, pertaining to federal Schedule 8, Alberta AT1 Schedule 13 and Quebec Form CO-130.A:

      1. ITC-Addition-DIEP : Amount/descr. of designated immediate expensing property (DIEP) additions qualifying for ITC

         Use ITC-Addition-DIEP to enter current year designated immediate expensing property additions to this CCA class which qualify for an ITC of the type entered in ITC-Code . Enter designated immediate expensing property additions that are not qualifying for ITC in the Additions-DIEP keyword.

      2. Additions-DIEP : Designated immediate expensing property (DIEP) addition after April 18, 2021

         Use the keyword Additions-DIEP to enter an addition of a property acquired after April 18, 2021, by a corporation that was a Canadian-controlled private corporation (CCPC) throughout the year which became available for use in the tax year (before 2024) and was designated as such on or before 12 months after the filing-due date for the tax year to which the designation relates.

         A property can only qualify as DIEP in the year in which it becomes available for use. See subsection 1104(3.1) of the Regulations for more information.

      3. Addition-Car-DIEP : Designated immediate expensing property (DIEP) acquired after April 18, 2021 (before sales tax)

         The immediate expensing property (DIEP) addition of an automobile to Class 10.1 can only be entered once since separate classes are required for Class 10.1 property.

         Enter the cost of the car excluding GST, PST and HST. The amount of GST, PST or HST paid on the cost should be entered in the keyword GSTPSTCost ($30,000 before 2022, $34,000 after 2021).

         Immediate expensing is available for "eligible property" acquired by a CCPC on or after April 19, 2021, or by an individual or partnership after December 31, 2021, and that becomes available for use before January 1, 2024, up to a maximum amount of $1.5 million per taxation year. The immediate expensing would only be available for the year in which the property becomes available for use. The $1.5 million limit is shared among associated members of a group of CCPCs, individuals and partnerships. The limit is prorated for taxation years that are shorter than 365 days. The half-year rule is suspended for property for which this measure is used.

      4. Additions-Yr-DIEP : Designated immediate expensing property after April 18, 2021 - amount & # of months lease/asset expiry

         For Class 13, DT Max will calculate capital cost allowance based on the number of 12-month periods remaining in the lease term, including this taxation year, for the additions entered. Next year, the capital cost allowance calculated will be carried forward into the Annual-CCA.n keyword in this group.

         For Class 13, the minimum amortization period is 5 years and the maximum is 40 years. If the number of months entered for an addition is not within this range, DT Max will use the minimum or maximum allowed.

         Immediate expensing is available for "eligible property" acquired by a CCPC on or after April 19, 2021, or by an individual or partnership after December 31, 2021, and that becomes available for use before January 1, 2024, up to a maximum amount of $1.5 million per taxation year. The immediate expensing would only be available for the year in which the property becomes available for use. The $1.5 million limit is shared among associated members of a group of CCPCs, individuals and partnerships. The limit is prorated for taxation years that are shorter than 365 days. The half-year rule is suspended for property for which this measure is used.

      5. Addition-DIEP.c : Zero-emission passenger vehicle eligible for immediate expensing (before sales tax)

         Use the keyword Addition-DIEP.c to enter an addition of a zero-emission passenger vehicle that would otherwise be included in Class 10 or Class 10.1. Enter the original cost of the car excluding GST, PST and HST. For example, if the car cost $60,000 plus $9,000 HST, $60,000 should be entered for the keyword Addition-DIEP.c . The amount of GST, PST or HST paid on the allowable cost (up to a maximum of $55,000 before 2022, $59,000 after 2021) should be entered in the keyword GSTPSTCost.c .

         Zero-emission cars acquired after April 18, 2021, and before 2024 are eligible for immediate expensing.

         Immediate expensing is available for zero emission cars acquired by a CCPC on or after April 19, 2021, or by an individual or partnership after December 31, 2021, and that becomes available for use before January 1, 2024, up to a maximum amount of $1.5 million per taxation year. The immediate expensing would only be available for the year in which the property becomes available for use. The $1.5 million limit is shared among associated members of a group of CCPCs, individuals and partnerships. The limit is prorated for taxation years that are shorter than 365 days. The half-year rule is suspended for property for which this measure is used.

      6. GSTPSTReb-DIEP : GST, PST or HST rebate on designated immediate expensing property (DIEP) addition to deduct from UCC

         The GST, PST or HST rebate on this designated immediate expensing property (DIEP) addition will be deducted from its cost on Schedule 8.

      7. ImmediateExpOV : Amount of immediate expensing/ov

         Use this keyword to override the immediate expensing claimed on this class.

      8. Date-In-Use.c : Date property became available for use (CO-130.AD)

         A property can only qualify as designated immediate expensing property (DIEP) in the year in which it becomes available for use. This date is required information on Quebec Form CO-130.AD.

      9. Date-In-Use : Date property became available for use (CO-130.AD)

         A property can only qualify as designated immediate expensing property (DIEP) in the year in which it becomes available for use. This date is required information on Quebec Form CO-130.AD.

      10. DIEP-Proceed-OV : Amount of gross proceeds from disposition of the designated immediate expensing property/ov

          Use the keyword DIEP-Proceed-OV to override the gross proceeds from disposition of the designated immediate expensing property claimed on this class.

      11. DIEP-Asset : Whether the information entered in this class pertains to a car that is designated immediate expensing property (DIEP)

          Use the keyword DIEP-Asset to indicate whether or not the information entered in this class pertains to a car that is designated immediate expensing property (DIEP) acquired after April 18, 2021, and that becomes available for use before January 1, 2024.

      12. DIEP-Proceed : Gross proceeds from disposition of the designated immediate expensing property

          Use the keyword DIEP-Proceed to enter the gross proceeds from the disposition of the designated immediate expensing property (DIEP). This refers to the portion of the gross proceeds from disposition entered within keyword Proceeds.cc that relates to the DIEP asset acquired in the current year.

6. Revised keywords

   1. In the FuelCharge-Cr group, pertaining to federal Schedule 63:

      1. NonArms-Trans : Amount of non-arm's length transactions

         Use the keyword NonArms-Trans to enter the amount of non-arm's length transactions. This is the portion of the amount claimed on Schedule 63 line 80 from non-arm's length transactions. This amount is excluded from the calculation of the eligible farming expenses.

   2. In the CCA-Class group, pertaining to federal Schedule 8, Alberta AT1 Schedule 13 and Quebec Form CO-130.A:

      1. Addition-Car-AIIP : Accelerated investment incentive property (AIIP) addition after November 20, 2018 (before sales tax)

         The accelerated investment incentive property (AIIP) addition of an automobile to Class 10.1 can only be entered once since separate classes are required for Class 10.1 property.

         Enter the cost of the car excluding GST, PST and HST. The amount of GST, PST or HST paid on the cost should be entered in the keyword GSTPSTCost ($34,000 after 2021, $30,000 if in 2021 or before).

         Under the Accelerated Investment Incentive, capital investments will generally be eligible for a first-year deduction for depreciation equal to up to three times the amount that would otherwise apply in the year an asset is put in use. Tripling the current first-year rate will allow businesses to recover the initial cost of their investment more quickly.

         The Accelerated Investment Incentive will apply to qualifying assets acquired after November 20, 2018. It will be gradually phased out starting in 2024, and no longer in effect for investments put in use after 2027.

      2. Addition-AIIP.c : Addition of zero-emission passenger vehicle (before sales tax)

         Use the keyword Addition-AIIP.c to enter an addition of a zero-emission passenger vehicle that would otherwise be included in Class 10 or Class 10.1. Enter the original cost of the car excluding GST, PST and HST. For example, if the car cost $60,000 plus $9,000 HST, $60,000 should be entered for the keyword Addition-AIIP.c . The amount of GST, PST or HST paid on the allowable cost (up to a maximum of $59,000 after 2021, $55,000 if in 2021 or before) should be entered in the keyword GSTPSTCost.c .

         Zero-emission cars acquired after March 18, 2019, and before 2028 are eligible for an enhanced allowance in the first year the car becomes available for use.

         Rates for the First-Year Enhanced Allowance

         Year Acquired	First-Year Allowance
         March 19, 2019 - 2023	100%
         2024 - 2025	75%
         2026 - 2027	55%

      3. GSTPSTCost.c : GST, PST or HST on cost of car up to the prescribed amount of $59,000 after 2021, $55,000 before 2022

         Use the keyword GSTPSTCost.c to enter the GST, PST or HST on the cost of the car, up to the prescribed amount of $59,000 after 2021, $55,000 if in 2021 or before. Enter the lesser of the taxes paid on the purchase of the car and the taxes payable on the prescribed amount of $59,000 after 2021, $55,000 if in 2021 or before.

         Use the keyword GSTPSTRebate.c to enter the amount of the GST, PST or HST rebate claimed on the car up to the prescribed amount of $59,000 after 2021, $55,000 if in 2021 or before.

      4. ACB-Info.c : Adjusted cost base of asset in class

         Both the original cost (before sales tax) and the prescribed limit are required to calculate the adjustment of proceeds when the cost exceeds the allowed cost. For a zero emission passenger vehicle the prescribed limit is 59,000 after 2021 and $55,000 before 2022, plus sales taxes payable on the amount. For a Class 10.1 vehicle the prescribed limit is 34,000 after 2021 and $30,000 before 2022, plus sales taxes payable on the amount.

      5. GSTPSTCost : GST, PST or HST on cost of car on the allowable cost (up to $34,000 after 2021, $30,000 before 2022)

         The GST, PST or HST on the allowable cost (up to a maximum of $34,000 after 2021, $30,000 if in 2021 or before) of the car is added to Class 10.1. Enter the lesser of the taxes paid on the purchase of the car and the taxes payable on a $34,000 car if acquired after 2021, $30,000 if acquired in 2021 or before.

         Use the keyword GSTPSTRebate , GSTPSTReb-AIIP or GSTPSTReb-DIEP to enter the amount of the GST, PST or HST rebate claimed on the vehicle.

      6. Addition-Car : Non-accelerated investment incentive property (AIIP) addition of car (before sales tax)

         The addition of an automobile to Class 10.1 can only be entered once since separate classes are required for Class 10.1 property.

         Enter the cost of the car excluding GST, PST and HST. The amount of GST, PST or HST paid on the cost should be entered in the keyword GSTPSTCost ($34,000 after 2021, $30,000 if in 2021 or before).

      7. RecaptureOV : Amount of recapture/ov

         Use this keyword to override the recapture of depreciation calculated. Recapture is calculated for all CCA classes including Class 10.1 which is included in DIEP (designated immediate expensing property.) Class 10.1 not included in DIEP is not subject to recapture.

         For Class 10.1 (not included in DIEP), in the year of a disposal, no recapture or terminal loss is calculated. Instead, half-year CCA is claimed on the opening balance of the class, as is allowed by the income tax rules.

7. New options

   1. For the keyword Letter-Data , pertaining to the client letter:

      TP-130.EN - Agreement - Immediate expensing limit

   2. For new keyword DIEP-Proceed , pertaining to federal Schedule 8, Alberta AT1 Schedule 13 and Quebec Form CO-130.A:

      Portion of PROCEEDS.CC if DIEP asset acq. in current year