The latest DT Max program update is now available for downloading. It features the fully functional T2 program for fiscal periods ending from 1994 to 2005, and it supports corporation Internet filing and Ontario CT23 D-file. In this edition...Known issues fixed in v8.25Program certification New keywords Federal forms Ontario forms Quebec forms Reminder Known issues fixed in v8.25
Inaccurate calculation of general tax reduction New calculation of Ontario capital tax Gross amount of part I.3 tax Nova Scotia tax Program certificationFederalDT Max is fully certified for both RSI's and corporate Internet filing under the CRA's new specifications. Users can file returns with year-ends up to October 31, 2005. OntarioDT Max is also certified under the new specifications of the Ontario Ministry of Finance with respect to the 2004/2005 CT23 return (short and long forms). New keywordsThe keyword CharityReturn opens up the group to enter information relating to form T3010A (Registered charity information return). The return must be filed no later than six months after the end of the registered charity's fiscal period. The keyword Director found in the CharityReturn group enables you to enter information relating to form T1235 (Directors/Trustees worksheet). The keyword NameQualDonee found in the CharityReturn group enables you to enter information relating to form T1236 (Qualified donees worksheet). The keyword Objection opens up the group to enter information relating to form T400A (Objection - Income Tax Act) and form MR-93.1.1 (Notice of Objection). Use the keyword Type-Sh within the CorpOfficers group to indicate if the shareholder who holds 10% or more of the corporation's common and/or preferred shares is a corporation, partnership, individual or trust, for purposes of federal schedule 50. Use the keyword Country-Incorp within the CorpType group to enter the name of the country in which the corporation was incorporated for purposes of federal schedule 97. Use the keyword BC-R&D within the SR&ED group to enter the deductions to current and capital expenditures for SR&ED in order to calculate the B.C. qualified expenditures, for purposes of federal form T666 (schedule 425). Use the keyword Contact-Title within the Address group to enter the title of the contact person for purposes of federal form T1044. Choose the option "Yes" under the keyword Period-Elapsed of the sub-group Destruction within the group Address if the appeal period provided by legislation is elapsed, for purposes of federal form T137. Use the keyword Adjustment.ch within the Charity group to enter the amount of adjustment for an acquisition of control for donations made after March 22, 2004. Use the keyword NAMEPRODUCTION within the SPECIFIED-CR group to enter the name of the production for purposes of the Ontario Film and Television Tax Credit (OFTTC). Use the keyword SPECIAL-ADD-TAX within the NetIncome group to enter the amount of gross special additional tax for a life insurance corporation that carries on business in Ontario. The keyword TAXI opens up the group to enter information relating to form CO-1029.9 (Tax credit for taxi firms) or form TP-1029.9.3 (Tax credit for the modernization of the taxi fleet). Federal formsNewSchedule 30 - Schedule A- Additional-third party payment for SR&EDSchedule 30 will be applicable only if more than one ThirdParty keyword is entered in the SR&ED group. T3010A - Registered charity information return T1235 - Directors/trustees worksheet T1236 - Qualified donees worksheet Important message: Changes to form T3010A resulting from the 2004 federal budget As a result of proposed legislative amendments to the Income Tax Act affecting the annual minimum expenditure requirements for registered charities (i.e. the disbursement quota), the Canada Revenue Agency (CRA) is revising the Registered Charity Information Return (form T3010A) for fiscal periods that begin after March 22, 2004. Charities completing returns for fiscal periods that begin after March 22, 2004, are required to use the revised form T3010A (05) which is not implemented in this version since the CRA has not yet made it available. The CRA will mail this new form to registered charities in May 2005. UpdatedSchedule 2 - Charitable donations and giftsSchedule 3 - Dividends received, taxable dividends paid, and part IV tax calculation Schedule 6 - Summary of dispositions of capital property Schedule 24 - First-time filer after incorporation, amalgamation, or winding-up of a subsidiary into a parent Schedule 32 - Claim for scientific research and experimental development (SR&ED) carried out in Canada Schedule 50 - Shareholder information Schedule 91 - Information concerning claims for treaty-based exemptions Schedule 97 - Additional information on non-resident corporations in Canada Schedule 141 - Notes checklist Schedule 360 - New Brunswick research and development tax credit Schedule 425 - British Columbia scientific research and experimental development tax credit T137 - Request for destruction of books and records T1044 - Non-profit organization (NPO) information return Ontario formsNewCT23 Schedule 101 - Corporate minimum tax (CMT)Schedule 101 used to be schedules A, B, C, D and E of the CT23 long return. Schedule 113 used to be schedule F of the CT23 short and long returns. Choosing the option Ontario apprenticeship training tax credit within the keyword Employment opens up the group to enter information relating to schedule 114. Schedule 115 used to be schedule G of the CT23 short and long returns. UpdatedCT23 Corporations tax and annual returnCT23 Short-form corporations tax and annual return Ontario innovation tax credit (OITC) claim CT23 Schedule 591 - Capital tax election of associated group agreement for allocation of taxable capital deduction (TCD) for 2004. Quebec formsNewCO-1029.8.36.DF-V - Tax credit for film dubbingChoosing the option Quebec film dubbing within the keyword Cred-Film opens up the group to enter information relating to form CO-1029.8.36.DF-V. TP-1029.9.3-V - Tax credit for the modernization of the taxi fleet MR-93.1.1-V - Notice of objection UpdatedCO-130.B - Déduction relative à des immoblisations incorporelles (French only)CO-1029.8.35-V - Application for a tax credit for Quebec film productions (English version now implemented) ReminderUsers may notice that when they cut and paste notes into the GIFI-Notes dialogue box, or when they are importing the GIFI, the notes are no longer properly formatted. We strongly recommend that the GIFI notes be reviewed and that users reformat them if needed before submission to the government. |