The latest DT Max program update v7.35 is now available for downloading. Version 7.35 features the T1/TP1 program for tax years 1996 to 2003 as well as the 2004 tax planner, and it fully supports T1 efile. V7.35 also includes the T2 program for fiscal periods ending from 1994 to 2004 and it fully supports corporation Internet filing and Ontario CT23 D-File. In this edition...
SmartStart input assistant Zoom in all windows Data editor colours Most recently accessed clients Audit trail T2 program
New FAQ New feature Program certification New keywords Federal forms Alberta forms Quebec forms Miscellaneous NEW DT MAX FEATURESUser interface changesMany changes have been made to the user interface of the DT Max program to enhance its usability. The SmartStart input assistantThis version includes an optional new feature in the keyword data editor called the SmartStart input assistant, available in tax years 2003 onwards and designed to assist new users of the DT Max program. With SmartStart, you can now select the sections (i.e. tax topics such as investments, business income, etc.) that are relevant to your client, then work through the data entry keywords displayed in each of these sections. The SmartStart input assistant enables new users to become productive right away by instantly creating a customized input list for new clients. Click here to read all about the new SmartStart input assistant. Zoom now in all windowsThe zoom feature, which has always been available in DT Max in the display of the tax return, is now also available in the Client list and in the Data entry screen. Moreover, standard accelerator keys have been added to make zooming easier. Press [Ctrl +] to zoom in (enlarge) or [Ctrl -] to zoom out (reduce). Data editor coloursVarious colour schemes are now available to allow you to personalize the data editor to a set of colours that is easiest for you to work with. To changes the colours, select User interface from the Preferences menu, then choose the colour scheme that you prefer. Most recently accessed clientsVersion 7.30 introduced the feature that enabled you to list the most recently accessed clients at the end of the File menu. This feature can now be configured in the User interface dialogue within the Preferences. Simply choose a number of clients for the program to remember from 0 (feature turned off) to 16. Note that a separate list is maintained for each database that you access from your computer. The audit trailWith this new feature, it is now possible to view a report showing the various events that took place in the database during a given period of time. These include for instance a file being created, the editor being opened or closed, a tax return being verified, or efiled, etc. To view audit trail reports, choose the option Browse audit trail from the Management menu, then make a selection among the options available. T1 PROGRAM
Known issuesTransfer of unused credits in pre-bankruptcy Data entryThe T-slips and RL keyword groupings now display on the same line both the applicable keyword and its corresponding box number from the T-slip or RL. Calculation of Quebec AMT for tax years 2003 and subsequentPursuant to information bulletin 2004-6 published by the ministère des Finances du Québec on June 30, 2004, respecting the calculation of alternative minimum tax, the single tax rate is reduced from 20% to 16%, the amount of the basic exemption is increased from $25,000 to $40,000 and the portion of capital gain realized in the year that must be included in the calculation of the adjusted taxable income is increased from 70% to 75%. These modifications apply retroactively as of tax year 2003. The ministère des Finances will locate and modify all the cases affected by these new measures. Clients will not be required to contact the ministère to request adjustments. Please note however that it may be necessary in certain cases to submit a Request for an Adjustment (form TP-1.R-V ) to the ministère. Such situations include: DT Max version 7.35 reflects the changes to the AMT calculations for 2003. This version also includes a special filter enabling you to automatically obtain a list of all the clients who may be affected by these new measures. These include all the clients who had a minimum tax balance at the beginning of 2003 as well as all the clients with minimum tax to pay in 2003. Please note that in order for this filter to work, affected clients must be on the print queue. [For tax year 2004, these changes will be incorporated to the first CD-Rom version of the upcoming tax season (v8.10).] To use the special Quebec AMT filter, select tax year 2003, then select the option 2003 Quebec AMT in the filter drop-down menu on the client list window. Note that afterwards, you will experience slowness if you access your client files from the filter results page. Therefore, we recommend that you print the filter results, then access your client files from your non-filtered database. Please note that a new warning has been added to DT Max for tax year 2004 to remind you to review carryforward amounts for all clients with minimum tax carryforwards. For more information, please refer to information bulletin 2004-6 published by the ministère des Finances du Québec. CRA efile deadlinePlease note that the deadline to submit T1 returns to the CRA via EFILE Online or EFILE Online Plus for the 2003 tax year is September 30th, 2004. T2 PROGRAMKnown issues fixed in 7.35
Processing error detected Multiple instances of GIFI data Additional credit for SR&ED claimed erroneously Portion of meal expenses due to regular travel - Qc New FAQNew featureKeywords have been modified so that they may now be displayed in either mixed or upper case letters. This feature can be controlled through the User interface option of the Preferences menu. Program certificationAlbertaDT Max is certified for RSI's under Alberta Revenue's new specifications. Revised versions of Alberta schedule 5 (Alberta royalty tax deduction) and schedule 8 (Alberta political contributions tax credit) have not been incorporated into this version. Alberta Revenue did not consent to their implementation as finalized forms were unavailable at the time of release. New keywordsUse the keyword HEALTHTAXACCT in the Jurisdiction group to enter the Ontario employer health tax account number of the corporation. Use the keyword Operation# in the CAIS group to enter a specific operation number if the corporation is involved in multiple farming operations. Use the keyword Change-Sh in the CorpOfficers group to indicate whether there has been a change of shareholders in the corporation. This information is required on Alberta's annual return. Use the keyword FS-FOREIGN in the Foreign-Info group to enter the financial information of the foreign affiliate in foreign currency. Use the keyword FS-CDN in the Foreign-Info group to enter the financial information of the foreign affiliate in Canadian dollars. Use the keyword Gross-Debt in the Foreign-Info group to specify the gross amount of debt (in Canadian dollars) owed to the corporation by the foreign affiliate, or owed to the foreign affiliate by the corporation, at the end of the fiscal period. Use the keyword Amend-Return in the Foreign-Info group to indicate whether or not the T1134-A or T1134-B information return relating to foreign affiliates is an amended return. Use the keyword For-Aff-Begin in the Foreign-Info group to specify the taxation year start of the foreign affiliate for which the information on the return is reported. Use the keyword For-Aff-End in the Foreign-Info group to specify the taxation year-end of the foreign affiliate for which the information on the return is reported. Federal formsUpdated / RevisedCAIS - Canadian Agricultural Income Stabilization programT1134-A - Information return relating to foreign affiliates that are not controlled foreign affiliates T1134-B - Information return relating to controlled foreign affiliates Alberta formsUpdated / RevisedAT1 return - Alberta corporate income tax returnAT1 schedule 1 - Alberta small business deduction AT1 schedule 12 - Alberta income/loss reconciliation AT1 schedule 15 - Alberta resource related deductions AT1 annual return Alberta notice of directors or notice of change of directors Quebec formsNewTP-997.1-V - Information return for tax-exempt entitiesUpdated / RevisedCO-771-V - Calculation of the income tax of a corporation
MiscellaneousLocation of books and recordsIf an address for the Location of books and records is not entered within the program, DT Max will automatically default to the address of the head office. The CRA will not accept any efiled returns where the location of books and records defaults to a P.O. box. Should you fall under such a scenario, you should provide a distinct and complete address for the location of your books and records if you do not want your head office address to be used. REMINDERBacking upLoss of information stored in computers can be very costly because of the large investment in time that it represents. Much of the data may be irreplaceable. When the information is sensitive for your client, it is especially wise to be cautious and back up regularly. Loss of data may be due to a variety of causes, e.g. hard disk failure, theft of equipment, careless copying or deletion of files, fire or water damage. You must have a backup that will be able to cope with any of these disasters, one that will be reliable and available for you when you need it. Don't wait for an unfortunate experience to stress the importance of a good backup. There are several methods you can use to back up your data. The easiest and most reliable is to use DT Max's built-in backup utility. It can be used in addition to your system's own backup utility. |
