Close

Our Privacy Statement & Cookie Policy

All Thomson Reuters websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.


Print this pageForward this document  What's new for T2/T3 Internet version 26.15?

The latest DT Max program update is now available for downloading. It features the T2 program for fiscal periods ending from 2011 to 2023 and fully supports Corporation Internet Filing (T2, CO-17 and AT1). It also features the T3/TP-646 program for tax years ending from 2011 to 2023 inclusively. Installing this version will update your version of DT Max to 26.15.

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 26.15
      1. Quebec inactive corporations
      2. Quebec EFILE error code 13978
    2. E-signature support added for T1135, Foreign Income Verification Statement
    3. Reminder from Revenu Québec: Irregularities displayed on paper filed returns received by RQ
  3. CRA update: Underused Housing Tax
  4. New forms
  5. Revised forms
  6. New keywords
  7. Deleted keywords
  8. New options
  9. Deleted options

DT Max T3

  1. Quebec mandatory entry of trust identification number
  2. Quebec RL-16 Internet filing notification

 

DT Max T2

  1. Program certification

    Federal

    Version 26.15 of DT Max has received certification for the implementation of the new federal Schedules 67 and 68 that pertain to the new tax measures from Bill C-32 for banks and life insurers.

  2. Version highlights

    1. Known issues fixed in version 26.15

      1. Quebec inactive corporations

        As requested by Revenu Québec, we now display the NAICS on the CO-17 (line 32) and on the CO-17.SP (line 32) when a corporation is inactive.

        This information is being requested whether the return is being paper filed or efiled.

      2. Quebec EFILE error code 13978

        One of the situations where Quebec EFILE error code 13978 can arise is:

        • GIFI Schedule 141 Field 111 is set to "No", and
        • GIFI Schedule 141 Field 110 is also set to "No".

        This issue has now been rectified in this version.

    2. E-signature support added for T1135, Foreign Income Verification Statement

      The T1135 can be sent to Onvio Client Centre for e-signature purposes. This feature is only available for firms licenced for Onvio Firm Management (Essentials or Advanced).

    3. Reminder from Revenu Québec: Irregularities displayed on paper filed returns received by RQ

      We have been asked by Revenu Quebec to remind tax preparers of the following with respect to paper filed tax returns.

      When documents mailed to Revenu Québec do not comply with the printing instructions mentioned in the IN-417.A, this causes additional work in the operational environment as well as delays in processing the tax file.

      For this reason, we would like to remind users of section 3.1.2 of guide IN-417.A:

      3.1.2 Printing

      Forms COR-17.U and MR-69 must be printed as a separate document: no other form can be printed on the same sheet. For example, MR-69 can be printed on both sides of the sheet or printed only on the front of a sheet with no other form printed on the back.

      Forms COR-17.W, COR-17.X, COR-17.Y and COR-17.Z can be printed on both sides of the same sheet. For example, the last page of COR-17.W and the first page of COR-17.X can be printed on both sides of a sheet, and the second page of COR-17.X and COR-17.Y can be printed on both sides of a second sheet.

      Other documents can also be printed on both sides, but not on the same sheet as one of the forms mentioned in the previous two paragraphs.

      Here is the example raised in production received by Revenu Québec that does not comply with section 3.1.2 of the IN-417.A:

      Authorization number Front Back
      RQCO-2104 COR-17.X CO-17 page 1

      A link to the entire IN-417.A document, Information for users of software for generating corporation income tax forms, can be accessed here. Note that the IN-417.A is always available within our knowledge base since it is very important to read and verify the IN-417.A for any changes. To access the document in DT Max, select the Help menu -> Knowledge base -> Tax Documentation.

  3. CRA update: Underused Housing Tax

    The Underused Housing Tax is an annual 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The tax usually applies to non-resident, non-Canadian owners. In some situations, however, it also applies to Canadian owners.

    For more information about this tax, go to the following web page:
    https://www.canada.ca/en/services/taxes/excise-taxes-duties-and-levies/underused-housing-tax.html

  4. New forms

    Federal

    • Schedule 67 - Canada Recovery Dividend (2022 and later tax years)

      This is a brand-new form by the CRA.

      The Canada recovery dividend (CRD) is a one-time 15-per-cent tax on bank and life insurer groups. A group includes a bank or life insurer and any other financial institution (for the purposes of Part VI of the Income Tax Act) that is related to the bank or life insurer.

      The CRD is determined based on a corporation's taxable income for taxation years ending in 2021 and 2020. A proration rule is provided for short taxation years. Bank and life insurer groups subject to the CRD are permitted to allocate a $1 billion taxable income exemption by agreement amongst group members.

      The CRD liability is imposed for the 2022 taxation year and is payable in equal amounts over five years.

      The keyword Part-VI2-Inst opens the group to enter information regarding this new federal form.

    • Schedule 68 - Additional Tax on Banks and Life Insurers (2022 and later tax years)

      New Schedule 68 applies if you are a corporation that is a bank or life insurer group member at any time during the year and are liable to pay an additional tax of 1.5% on the taxable income. A $100 million taxable income exemption is permitted to be allocated by agreement amongst group members. Use the keyword Income-Alloc within the RelatedParty group to enter the allocated amount of the income deduction that relates to the related corporation.

      This additional tax applies to tax years that end after April 7, 2022. For tax years that include April 7, 2022, the additional tax is prorated based on the number of days after April 7, 2022.

  5. Revised forms

    Federal

    • T2 Corporation Income Tax Return (2022 and later tax years)

      New line 276, Is the corporation subject to the addition 1.5% tax on banks and life insurers? (pertaining to Schedule 68), has been added on page 3.

      Lines have been added on page 4 to reflect the increase of the upper limit of taxable capital from $15 million to $50 million for tax years starting after April 6, 2022.

      New line 565, Additional tax on banks and life insurers from Schedule 68, has been added on page 8.

      New line 725, Part VI.2 tax payable from Schedule 67, has been added on page 9.

    • Planning Summary - Federal 2022

      A new line 565 has been added in the Part I tax section of the form due to the addition of the new line 565, Additional tax on banks and life insurers from Schedule 68, on the T2 return.

      A new line 725 has been added in the Summary of tax and credits section of the form due to the addition of the new line 725, Part VI.2 tax payable from Schedule 67, on the T2 return.

    • Schedule 200 Summary for 2022 taxation year (Federal 5-year summary)

      A new line 565 has been added in the Part I tax section of the form due to the addition of the new line 565, Additional tax on banks and life insurers from Schedule 68, on the T2 return.

      A new line 725 has been added in the Summary of tax and credits section of the form due to the addition of the new line 725, Part VI.2 tax payable from Schedule 67, on the T2 return.

    • Schedule 27 - Calculation of Canadian Manufacturing and Processing Profits Deduction (2022 and later tax years)

    • Schedule 38 - Part VI Tax on Capital of Financial Institutions (2022 and later tax years)

      In Part 6 of the form, Unused Part I tax credit carried forward from previous years that can be applied this year, new line number 845 has been added that reflects the Part VI.2 tax credit from the current year.

      In Part 7, Net Part VI tax payable, new line number 888 has been added that reflects the Part VI.2 tax credit from the current year.

      Line 885, Surtax credit applied from previous years, has been deleted.

    • Schedule 341 - Nova Scotia Corporate Tax Reduction for New Small Businesses (2022 and later tax years)

      This form has been updated by the CRA.

      Lines referring to the number of days in the tax year before April 1, 2020, have been deleted.

    • Schedule 366 - New Brunswick Corporation Tax Calculation (2022 and later tax years)

      This form has been updated to reflect the increase of the ceiling of taxable capital for small business to $50 million for tax year starting after April 6, 2022. Therefore, a new section (line 1D to 1G) was added.

    • Schedule 500 - Ontario Corporation Tax Calculation (2022 and later tax years)

      Calculation changes have been made at line 2E of Schedule 500 to reflect the increase of the upper limit of taxable capital from $15 million to $50 million for tax years starting after April 6, 2022.

    Quebec

    • CO-17.B - Adjustment of Income from One or More Partnerships

    • CO-17.B.1 - Amount to Be Included in the Income of a Corporation That Is a Member of a Partnership

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

    Alberta

    • AT1 Schedule 1 - Alberta Small Business Deduction

      Following the increase of the upper limit of taxable capital from $15 million to $50 million on Schedule 200 for tax years that start after April 6, 2022, at this time, the Alberta AT1 Schedule 1 has not been updated by Alberta's Tax and Revenue Administration (TRA). However, calculation changes have been made with this version of DT Max T2 to page 2 of the AT1 Schedule 1 that reflects the same increase.

    • AT1 Schedule 97 - Notice of Objection

      N.B.: This form provides no calculation support.

  6. New keywords

    1. In the new keyword group Part-VI2-Inst , pertaining to the new federal Schedule 67:

      1. Bus-Number.r : Business number of the related financial institution

        Use the keyword Bus-Number.r to enter the business number of the related financial institution.

      2. IncomeDedAlloc : Amount of income deduction allocated to the related institution

        Use the keyword IncomeDedAlloc to enter the amount of income deduction allocated to the related financial institution. The total of all amounts allocated under an agreement under subsection 191.5(5) cannot exceed 1 billion dollars.

      3. Part-VI2-Inst : Corporation subject to Part VI.2 tax

        Schedule 67 calculates the Canada recovery dividend under Part VI.2 if you were a bank or life insurer group member at any time during a 2021 tax year.

        The Canada recovery dividend is a temporary additional tax on the taxable income of certain bank or life insurer group members. It is imposed for the 2022 tax year and payable in equal instalments over five successive tax years (beginning with the 2022 tax year).

        If the corporation is subject to Part VI.2 tax, the keyword Part-VI2-Inst opens the group to enter information relating to federal Schedule 67.

      4. RELATED-2021 : Whether corporation was related to another bank or life insurer group member at the end of 2021 tax year

        Use the keyword RELATED-2021 to indicate if the corporation was related another bank or life insurer group member at the end of the 2021 tax year.

      5. NAME-RELATED : Name of the related financial institution

        Use the keyword NAME-RELATED to enter the name of the related financial institution.

      6. INC-DED-ALLOC : Amount of income deduction allocated to the corporation

        Use the keyword INC-DED-ALLOC to enter the amount of income deduction allocated to the corporation. The total of all amounts allocated under an agreement under subsection 191.5(5) cannot exceed 1 billion dollars.

        If an agreement has not been filed within 30 days after receiving the Minister's request, enter the lesser of the following two amounts: the amount allocated to the corporation in column 3 of Schedule 67, or the amount allocated by the Minister under subsection 191.5(6).

      7. TAXABLE-INCOME : Amount of taxable income for 2020 and 2021 tax years

        Use the keyword TAXABLE-INCOME to enter the amount of taxable income for the 2020 tax year and the 2021 tax year. The amount of taxable income (or taxable income earned in Canada, if a NR) to be entered here is determined in accordance with Part 1, without regard to paragraphs 111(1)(a) and (b). Include the taxable income of the predecessor corporations or subsidiaries if there was an amalgamation or wind-up in 2020 or 2021.

      8. Tax-Payable : Amount of additional tax payable in year (equal instalments over five successive tax years beginning with 2022 tax year)

        The Canada recovery dividend is a temporary additional tax on the taxable income of certain bank or life insurer group members. It is imposed for the 2022 tax year and payable in equal instalments over five successive tax years (beginning with the 2022 tax year).

        Since Schedule 67 will only be generated for the 2022 tax year, the amount of tax payable calculated in Part 3 of Schedule 67 will be carried forward within the keyword Tax-Payable for the next four successive tax years.

    2. In the RelatedParty group, pertaining to the new federal Schedule 68:

      1. Income-Alloc : Income deduction allocated to related corporation (Sch. 68)

        If the filing corporation is related to another bank or life insurer group member at the end of the year, the income deduction may be allocated among the related group members for all years that end in the same calendar year.

        For a taxation year that ends after April 7, 2022, the income deduction is $100,000,000.

        Use the keyword Income-Alloc to enter the amount of the income deduction for the year allocated to the related corporation for purposes of federal Schedule 68.

  7. Deleted keywords

    1. From the LCTCr-CF group, pertaining to federal Schedule 38:

      1. SurtaxCr-CF: Surtax credits carried forward and year

    2. Standalone keyword pertaining to federal Schedule 38:

      1. SurtaxCrLim: Limit surtax credit carried forward claimed this year

  8. New options

    1. For the new keyword Part-VI2-Inst , pertaining to the new federal Schedule 67:

      Canada Recovery Dividend (Schedule 67)

    2. For the new keyword TAXABLE-INCOME , pertaining to the new federal Schedule 67:

      Taxable income for the 2020 tax year
      Taxable income for the 2021 tax year

  9. Deleted options

    1. From the keyword LCTCr-CF , pertaining to federal Schedule 38:

      LCT & surtax cr - corporation
      LCT & surtax cr transf on amalg/windup

DT Max T3

  1. Quebec mandatory entry of trust identification number

    After consultation with Revenu Québec, DT Max T3 has relaxed the mandatory obligation of entering the Quebec trust identification number for first-time filers. New trusts that have made the request for the identification number but have yet to receive it can produce a Trust Income Tax Return (TP-646) without the number, if they indicate that the trust is a first-time filer through the keyword Trust-Info .

  2. Quebec RL-16 Internet filing notification

    Beginning in 2023, a trust that has no Quebec identification number and is filing a Quebec trust tax return for the first time cannot efile the Quebec RL-16 to Revenu Québec.

    A Quebec EFILE ineligibility diagnostic will be generated under such a situation.

 

 

March 22, 2023