DT Max version 9.35 includes the T2 program for fiscal periods ending from 1994 to 2007 and fully supports corporation Internet filing (T2 and CO-17) and Ontario CT23 diskette or CD filing (D-File). In this version...DT Max T2New feature: Federal T2 barcodesStarting with version 9.35, in accordance with CRA specifications, DT Max T2 generates two dimensional (2D) barcoding that is printed with the RSI (Return and Schedule Information) of all paper-filed corporate returns. Implementation of this state-of-the-art technology automates and simplifies the tax assessment process. CRA still encourages all taxpayers to adopt Corporation Internet filing as their first choice. T2 barcoding, printed by default in DT Max T2 for taxation years 2006 onward, appears on separate, numbered pages at the beginning of the RSI. The barcode contains the tax data present in the software at the time the print request is made. It is possible that a file contains more than one 2D barcode. RSI schedules are still to be submitted as a backup. Program certificationFor DT Max T2 version 9.35, the federal RSI's (Return and Schedule Information), barcodes and the corporation Internet filing module have received full CRA certification valid through taxation year-ends until April 30, 2007, under the DT14 stamp. DT Max version 9.35 is also certified for Saskatchewan capital tax returns. KeywordsNew keywordsLossCF group Use the keyword ABIL-RateOv from the LossCF group to override the inclusion rate that was used to calculate the allowable business investment loss (ABIL). For ABIL's incurred in 1999 and preceding years, the inclusion rate is equal to 75%. For ABIL's incurred in 2000 and 2001 tax years, the inclusion rate is equal to amount M on Schedule 6 - version T2SCH6(01). For ABIL's incurred in 2002 and later years, the inclusion rate is equal to 50%. Employment group The following five new keywords pertain to the apprenticeship job creation tax credit calculated on federal schedule 031. If the corporation is a related corporation, use the new keyword Sole-Claimer from the Employment group to indicate whether it has been agreed that the corporation is the only employer that will be claiming the apprenticeship job creation tax credit for the current tax year for the apprentices listed. Also in the Employment group, the keyword ContractNum is used to enter the apprenticeship contract number registered with Canada, or a province or territory. The keyword Code.e is used to enter the "Red Seal" code of the apprenticeship that would qualify for the apprenticeship job creation tax credit. Salaries.e is used to enter the salaries and wages paid after May 1, 2006 for each apprentice. The ProvCr-Alloc.e keyword is used to enter the apprenticeship job creation tax credit allocated to the corporation that is a member of a partnership as well as the credit deemed as a remittance of co-op corporations. OdourControl group Federal schedule 385 for Manitoba whose data is entered by the OdourControl group has a new keyword called PROPERTYTAXES . It is used to enter the property taxes net of any government assistance paid on Manitoba farmland, used by the corporation in the business of farming, for the calendar year ending within a tax year after March 6, 2006. Taxi group (Schedule CO-1029.9) The CORP-NAME.HO keyword has been added to the OTHER-HOLDER subgroup. It is used to enter the corporation name of the other permit holder, if applicable. SaskResSales group The SaskResSales group dealing with resources sales in Saskatchewan, has a new keyword Amount.s pertain either to oil & gas, charcoal, potash & uranium or to tier 4 oil & gas, enables to enter the amounts that correspond to the various applicable rates: For oil & gas, charcoal, potash & uranium, the new options are:
Resources sales at 3.3% (after June 30, 2006 and before July 1, 2007) Resources sales at 3.1% (after June 30, 2007 and before July 1, 2008) Resources sales at 3.0% (after June 30, 2008) For tier 4 oil & gas, the new options are:
Resources sales at 1.85% (after June 30, 2006 and before July 1, 2007) Resources sales at 1.75% (after June 30, 2007 and before July 1, 2008) Resources sales at 1.70% (after June 30, 2008) Modified keywordsFederal With the introduction of the federal credit for the apprenticeship job creation tax credit calculated on schedule 031, the following option was added:
Affecting the keywords ITC-CF and ITC-Source . Nova Scotia For corporations in Nova Scotia's jurisdiction, the following option was added to two keywords to accommodate the changes made to schedule 342:
Affecting the keywords SR&EDInfo and ProvITC-CF . CorpHistory group (Schedules 33, 34, 35) The keyword PARTI3TAX is the total taxable capital employed in Canada minus $10,000,000 multiplied by .225% calculated on schedule 33, 34 or 35 in the immediately preceding taxation year. This amount, if it exists, is needed to determine the reduced business limit for Canadian-controlled private corporations for the purposes of the federal small business deduction. RelatedParty group The PARTI3TAX.PA keyword is related to PARTI3TAX but is used if the corporation is an associated corporation. If that is the case, the total Part I.3 taxes of the associated group is needed to calculate the reduced business limit. Enter the amount of each associated corporation's Part I.3 tax liability, if any, in the PARTI3TAX.PA keyword in the relevant corporation's RelatedParty group. The TaxableCap keyword has a new use. This keyword is, from now on, also used to generate federal schedule 33, 34 or 35 if the total taxable capital employed in Canada of the filing corporation and its related corporations are over $10,000,000. ProvCredit group A total of six options was added to this group affecting corporations with a Saskatchewan or Manitoba jurisdiction, as follows: New options for the keyword ProvCr-Alloc concerning Saskatchewan (schedule 402):
Credit from trust before April 7, 2006 - sch. 402 Credit from partnership after April 6, 2006 - sch. 402 Credit from trust after April 6, 2006 - sch. 402 New options for the keyword ProvCr-Alloc concerning Manitoba (schedule 381):
Qualified property from trust - sch. 381 Employment group The Employment group incorporates two new options that pertain to a federal credit and a Manitoba credit: Federal apprenticeship job creation tax credit Choose this option if, after May 1, 2006, you paid salaries to apprentices in the first 24 months of their apprenticeship contract Manitoba co-op education refund credit (after 03/06/06) Choose this option to enter a credit for a work placement that ended after March 6, 2006. This credit is refundable and cannot be carried back or forward. Mining group The Expenses.m keyword of the Mining group has two new options stemming from the Yukon schedule 441:
After March 31, 2006 & before April 1, 2007 Cred-film group In the Cred-Film group, for corporations under Quebec jurisdiction, the made changes to CO-1029.8.36.DF schedule - Crédit d'impôt pour le doublage de films, brings up the following new options for the keyword Assistance in the sub-group Labour-Exp.f :
Adaptation - salaries Detection - salaries Calligraphy/grid/typing - salaries Stage management - salaries Production of film titles - salaries Optical transfer - salaries Performance of actors - consideration Adaptation - consideration Detection - consideration Calligraphy/grid/typing - consideration Stage management - consideration Production of film titles - consideration Optical transfer - consideration GIFI group Two new accounts augment the existing charter.
For the income statement (GIFI-125)
Modified schedulesFederal: Schedule 200 Corporation Income Tax ReturnSchedule 004 Corporation Loss Continuity and Application Schedule 005 Tax Calculation Supplementary - Corporations Schedule 006 Summary of Dispositions of Capital Property Schedule 007 Calculation of Aggregate Investment Income and Active Business Income Schedule 012 Resource Related Deductions Schedule 023 Agreement Among Associated Canadian-Controlled Private Corporations to Allocate The Business Limit Schedule 031 Investment Tax Credit - Corporations Schedule 033 Part I.3 Tax on Large Corporations Schedule 034 Part I.3 Tax on Financial Institutions Schedule 035 Part I.3 Tax on Large Insurance Corporations Schedule 049 Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit Schedule 342 Nova Scotia Tax on Large Corporations Schedule 344 Nova Scotia Manufacturing and Processing Investment Tax Credit Schedule 366 New Brunswick Corporation Tax Calculation Schedule 381 Manitoba Manufacturing Investment Tax Credit Schedule 383 Manitoba Corporation Tax Calculation Schedule 384 Manitoba Co-Operative Education Tax Credit (Including the Co-op Graduates Hiring Incentive) Schedule 385 Manitoba Odour-Control Tax Credit Schedule 402 Saskatchewan Manufacturing and Processing Investment Tax Credit Schedule 411 Saskatchewan Corporation Tax Calculation Schedule 441 Yukon Mineral Exploration Tax Credit Saskatchewan: SCT1 - Corporation capital tax returnAlberta: AT1 Schedule 18 Dispositions of Capital propertyQuebec: Only available in French, until an English translation is published:CO-1029.8.36.DF - Crédit d'impôt pour le doublage de films (Film dubbing tax credit) The following English translations are now available:
CO-1029.9 - Tax Credit for Taxi Firms Please note that the following form has been renumbered: TP-1029.9.3 is now referred to as TP-1029.8.36.VT-V - Tax Credit for the Modernization of the Taxi Fleet Deleted schedule: Schedule 424 British Columbia Two-Year Tax Holiday for New Small Businesses |
