  Investments without having a T-Slip |
Use Interest and select the type of interest among the options offered. This is required for efile. It allows the CRA to maintain statistics without having to count T-Slips (from paper tax returns).
You can use the T-Slip keyword to enter Canadian interest income or enter this income through the T-Slip group. Foreign investment income must be entered with Foreign-Inc .
DT Max will report the amount of interest on line 12100 of the federal income tax return and line 130 of the Quebec income tax return.
The following options are applicable for the keyword Interest.
Interest from Canadian sources (bank)
Interest amounts paid by Canadian Banks from accounts, Investment Certificates, Term Deposits etc.. In fact, most interest from Canadian sources which do not fit into the other specific categories should be entered using this option.
Bond interest
Interest from Canada or Quebec Savings Bonds (if not using the CSB/QSB Accrual schedules) or bonds of Canadian Corporations.
CSB bonus
QSB bonus
QSB Bonus
Mortgage interest
Interest earned by a mortgage on a property.
Interest from other sources
Interest from a source not offered above.
Amounts credited not received (such as reinvestments)
Interest on any tax refund received (notice of assessment)
Amounts included this year but reported in previous years
Interest from cryptoassets
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 12100 - Interest and other investment income
See the CRA's general income tax guide:
Line 12100 - Interest and other investment income
Use Amount.int to enter the amount of interest income received. Use [Alt-J] to enter different values for other jurisdictions.
Use $US to enter interest income from Canadian sources that was received in US dollars.
If you are using DT Max's automatic US conversion facility, enter the amount received in US funds and it will be converted to its Canadian equivalent. If you enter the amount in both Canadian dollars ( Amount.int) and in US dollars ( $US), these amounts will be reported as they are entered. In such a case, DT Max will assume that you did the conversion yourself and that you want to show the original US amount as well as the amount in Canadian dollars.
Amount of interest income from cryptoassets.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 12100 - Interest and other investment income
See the CRA's general income tax guide:
Line 12100 - Interest and other investment income
Use the keyword TypeCryptoassets.c to identify the type of cryptoasset used.
The following options are applicable for the keyword TypeCryptoassets.c.
Cryptocurrency
A cryptoasset used as a medium of exchange to buy products or services, generally independent of the banking system. Some cryptocurrencies can be converted into government-issued currency. Cryptocurrency and cryptocurrency transactions use blockchain technology.
Security tokens
These cryptoassets may derive their value from an underlying traditional stock/bond or some other blockchain-based investment opportunity.
Non-fungible tokens (NFTs)
NFTs are generally associated with digital art, but they have numerous other uses such as representing items in blockchain-based games and fractional ownership of real property.
Utility tokens
These cryptoassets serve a specific function, such as providing access to a product or service on the platform where the tokens were created. Utility tokens are not designed to function as a medium of exchange, even though they may have monetary value. For example, a utility token might allow users access to a decentralized cloud storage platform.
Other (specify)
Use the keyword Dividends to enter the taxable amount of regular dividends received from taxable Canadian corporations. Enter the amount and the source. The taxable amount represents 1.15 times (115%) the actual dividend received. The calculation can be done when entering the information into your client's file by entering the amount * 1.15.
DT Max will also claim a 9.0301% dividend tax credit of this amount on line 40425 of the federal income tax return and a 5.55% dividend tax credit of this amount on line 415 of the Quebec income tax return.
You may prefer to use T-Slip to enter such dividends earned as reported on various information slips.
DT Max will enter this amount on line 12000 of the federal income tax return and line 128 of the Quebec income tax return.
Use $US to enter dividends received in US currency. Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 12000 - Taxable amount of dividends from taxable Canadian Corporations
Line 12010 - Taxable amount of dividends other than eligible dividends
See the CRA's general income tax guide:
Line 12100 - Interest and other investment income
Use the keyword Dividends-Elig to enter the taxable amount of eligible dividends received from taxable Canadian corporations. Enter the amount and the source. The taxable amount represents 1.38 times (138%) the actual dividend received. The calculation can be done when entering the information into your client's file by entering the amount * 1.38.
DT Max will also claim a 15.0198% dividend tax credit of this amount on line 40425 of the federal income tax return, and a 11.78% dividend tax credit of this amount on line 415 of the Quebec income tax return.
You may prefer to use T-Slip to enter such dividends earned as reported on various information slips.
DT Max will enter this amount on line 12000 of the federal income tax return and line 128 of the Quebec income tax return.
Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 12000 - Taxable amount of dividends from taxable Canadian Corporations
See the CRA's general income tax guide:
Line 12100 - Interest and other investment income
Use $US to enter in US dollars the taxable amount of dividends received by your client. Enter the grossed-up amount received and its source.
DT Max will report this amount on line 12000 of the federal income tax return and line 128 of the Quebec income tax return.
You may use the T-Slip keyword to enter the dividends reported on various information slips.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 12000 - Taxable amount of dividends from taxable Canadian Corporations
Line 12010 - Taxable amount of dividends other than eligible dividends
See the CRA's general income tax guide:
Line 12100 - Interest and other investment income
Use Other-Invest to enter other Canadian investment income. DT Max will report this amount on line 12100 of the federal income tax return and line 130 of the Quebec income tax return.
Do not use this for foreign income ( Foreign-Inc ).
Use [Alt-J] to enter different values for other jurisdictions.
See the Taxnet Pro™ T1 Line-by-Line Guide (subscription required):
Line 12100 - Interest and other investment income
See the CRA's general income tax guide:
Line 12100 - Interest and other investment income
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