DT Max version 9.32 includes the T2 program for fiscal periods ending from 1994 to 2006 and fully supports corporation Internet filing (T2 and CO-17) and Ontario CT23 diskette or CD filing (D-File). In this version...New feature: CT23 D-Filing to CDProgram certification Understanding the Ontario Annual Return (as required by the MGS, formerly MCBS) Keywords New schedules Modified schedules New blank form New feature: CT23 D-Filing to CDDT Max T2 now allows CT23 D-Filing to CD, although the diskette method is still supported. If you choose to D-File to CD, you will be prompted to specify the folder in which to save the files. We recommend that the D-Files be stored in an empty folder on your computer and then burned onto a CD using your preferred CD burning software. Program certificationFor DT Max T2 version 9.32, CT23 forms have received updated Ontario Ministry of Finance certification under approval number 070F. This number is printed at the bottom of every page of both the short and long versions of the CT23. Understanding the Ontario Annual Return (as required by the MGS, formerly MCBS)Corporations having an establishment in Ontario have to provide the Ministry of Government Services (MGS) with their corporate information on an annual basis. Corporations with a licence under the Extra-Provincial Corporations Act must also file an Annual Return. DT Max T2 allows you to fulfill this obligation by completing fields on page 1 of the CT23 for all subject corporations and, if there are changes, schedules A or K. The CT23 guide states the following: DT Max will tick the No box for the "MGS Annual Return Required?" question in cases of federal or out-of-province incorporations. Conversely, DT Max will tick Yes for this question for Ontario and foreign incorporations who have not previously filed their return. New keyword for the Annual Return groupUse the FILED-ONLINE keyword of the AnnualReturn group to indicate whether the corporation has filed the Annual Return electronically to the Ministry of Government Services (MGS) for the current year. If Yes is selected, then the answer to the question "Is a MGS Annual Return Required?" on page 1 of the CT23 will be No. KeywordsNew keywordsStatusChange group (Ontario CT Schedule 24 - First-time Filer) The TAX-ACCTONT keyword has been added to the StatusChange group. It represents the corporation tax account number that will appear on the Ontario CT schedule 24. For an amalgamation, this is the account number of the Predecessor corporation in the year of amalgamation. For a subsidiary corporation ( SubName ), the tax account number is needed in the year that it was wound up into its parent corporation. Transferor group (Ontario CT Schedule 44 - Non-Arm's Length Transactions) The TAX-ACCTONT.TR keyword has been added to the Transferor group and accepts the Ontario tax account number of the transferor. This keyword applies for situations where all or substantially all (90% or more) of the assets of a non-arm's length corporation have been received in the taxation year pursuant to a section 85 election. SR&EDInfo group - Research and Development (Ontario CT Schedule 198 - OBRITC) In the SR&EDInfo group, when the Business-Research Institute-Ontario option is selected, the NumberDays keyword is used for the number of days in the current taxation year whereby the corporation is not connected to the eligible research institute (ERI). Jurisdiction group The Ontario option of the Jurisdiction group now has a new keyword called REDIRECT-PAYMT of the CT23 long form to indicate whether section 83.1 of the CTA applies (redirection of payments for certain electricity corporations). New keyword MINETAXACCT , of the same group, captures the mining tax account number of the corporation which is used for the purposes of the Ontario consent form. Finally, new keyword ELECTRICACCT accepts the electricity account number of the corporation which is used for the purposes of the Ontario consent form. Consent form Scope.rep of the Consent group allows you to indicate if the representative is to deal fully with the Ministry of Finance (MOF) or deal in a limited manner for specified matters on behalf of the corporation. This information is required for the Ontario consent form. Here are the options available to determine the scope of the representative:
Rep. to deal in limited manner - specify Calculation of penalty for late filing of forms T2054/CO-502 The Dividend paid out of CDA, ITA 83(2) option of the DividendPaid group now contains the LateMonths-OV keyword. With it, you can override the DT Max calculation of the number of complete or partial months that have passed since the filing deadline for federal form T2054 and Quebec form CO-502. Forced display of schedules New T2 keyword Display-OV forces the display of additional output schedules which may not have been generated by DT Max. Select the schedule you require from the tree structure that appears. As soon as the tax return is calculated again, the requested schedules will appear, ready for verification. Do not send schedules that are not required by the government. Modified keywordsFrom MCBS to MGS As the Ministry in charge of Ontario corporate affairs has changed names from MCBS to MGS (Ministry of Government Services), the MCBS-ACCT keyword has been renamed MGS-ACCT to enter the Ontario corporation number. New options for the Trade-Code keyword TRADE-CODE keyword has several new options to choose from:
CNC programmer Die designer Mould designer Railway car technician New options for the Account keyword The Account keyword has the following 2 new options to specify types of information for the purposes of the consent form:
Mining Tax Act (Ontario) New schedulesOntario: Schedule 024 - First-time Filer after Incorporation, Amalgamation, or Winding-up of a Subsidiary into a ParentSchedule 044 - Non-Arm's Length Transactions Schedule 591 - Capital Tax Election of Associated Group Agreement for Allocation of Taxable Capital Deduction (TCD) Ontario consent form Modified schedulesFederal: Schedule 404 - Saskatchewan Manufacturing and Processing Profits Tax ReductionSchedule 421 - British Columbia Mining Exploration Tax Credit Ontario: CT23 - Short-Form Corporation tax and annual returnCT23 - Corporation tax and annual return Schedule 002 - Ontario charitable donations and gifts Schedule 110 - Ontario Political Election Contributions Schedule 198 - Ontario Business-Research Institute Tax Credit Québec: TP-1086.R.23.12 - Costs Incurred Respecting Work on an ImmovableNew blank formSchedule 51 - Calculation of Adjusted Resource Profits, Resource Loss and Resource Allowance |