  Instalments |
DT Max will generate a schedule of instalments paid where required of instalments paid during the year. The total instalments paid will be deducted from taxes payable for this year on the return.
The following options are applicable for the keyword InstalPaid.
Federal
Quebec
Manitoba
Saskatchewan
Alberta
 See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 840 - Tax instalments paid
 See the CRA's general income tax guide:
Line 840 - Tax instalments paid
The type of tax for which the instalments were paid is required information for the Quebec CO-1027.VE schedule of instalments paid.
If no option is chosen in TaxType-Inst, DT Max will assume by default that the taxes are paid as income tax.
The following options are applicable for the keyword TaxType-Inst.
Income tax
Capital tax
Compensatory tax
Transfer to other account The option to transfer the corporation's income tax instalment payments made in the year to another tax account is available federally. Request the transfer when the corporation's tax return is filed. DT Max will show the amounts to be transferred and details of the transfer (account number, taxation year) on the instalment payments schedule.
Transfer from other account The option to transfer payments made in the year by the corporation to its income tax account is available federally. Request the transfer when the corporation's tax return is filed. DT Max will show the amounts to be transferred and details of the transfer (account number, taxation year) on the instalment payments schedule.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 840 - Tax instalments paid
See the CRA's general income tax guide:
Line 840 - Tax instalments paid
The description of the instalments paid is required for the federal schedule of instalments paid.
The following options are applicable for the keyword Descrip-Inst.
Instalment remittance
Split payment
Assessed credit
Other (specify)
The account number from or to which instalments paid are being received or transferred is required for the Federal schedule of instalments paid when a transfer request is made.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 840 - Tax instalments paid
See the CRA's general income tax guide:
Line 840 - Tax instalments paid
The taxation year to which the instalments paid are being transferred is required for the Federal schedule of instalments paid when a transfer request is made.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 840 - Tax instalments paid
See the CRA's general income tax guide:
Line 840 - Tax instalments paid
The amount and date on which each instalment was paid will print on the schedule of instalments paid.
The amount and date on which each instalment was paid will print on the schedule of instalments paid (Quebec).
Use the keyword Outstand-Bal to enter the amount of outstanding balance excluding installments as per your Corporation Capital Tax Return Notice.
Use the keyword PerfectCompliance to indicate whether or not the corporation has a perfect compliance history in order to be eligible to make quarterly instalment payments.
The following options are applicable for the keyword PerfectCompliance.
Enter the jurisdiction for which instalments are to be calculated for the next taxation year. Use InstalMeth in this group to choose the instalment method if you want to override your setup of DT Max user defaults.
DT Max will generate instalment calculation and monthly instalment payments schedules based upon the information entered in this group.
The following options are applicable for the keyword InstalRec.
Federal - monthly
Federal - quarterly
Quebec - monthly
Quebec - quarterly
Manitoba
Saskatchewan
Alberta
Enter the instalment method to be used for this client in InstalMeth if it is different from the method chosen in your setup of DT Max user defaults.
The following options are applicable for the keyword InstalMeth.r.
Current tax year Current tax year: Instalments calculated are to be based upon the estimated tax payable for the next taxation year. Enter estimated taxes payable for the year in the RecInstal keyword in this group. Instalments already paid for the next taxation year should be entered in the CurrInstal keyword in this group.
Previous tax year Previous tax year: Instalments calculated are to be based upon the actual tax payable for this taxation year, the year previous to the year for which instalments will be paid. Instalments already paid for the next taxation year should be entered in the CurrInstal keyword in this group.
Previous two tax years Previous 2 tax years for monthly instalments: Instalments calculated are to be based upon the actual tax payable for this taxation year for the first 2 months of the next year and the immediately preceding taxation year for the next 10 months of the year. Instalments already paid for the next taxation year should be entered in the CurrInstal keyword in this group.
Previous 2 tax years for quarterly instalments: Instalments calculated are to be based upon the actual tax payable for this taxation year for the first month of the next year and the immediately preceding taxation year for the next 3 months of the year. Instalments already paid for the next taxation year should be entered in the CurrInstal keyword in this group.
For Saskatchewan only, the instalments are based upon this year's actual tax payable for the first 3 months of next year and the immediately preceding year's taxes for the next 9 months of the year.
Use InstalBaseCF to enter the instalment base for the immediately preceding taxation year if the two previous taxation years method of calculating instalments is desired. Enter the amount of taxes paid of each type by the corporation in the immediately preceding year. DT Max will calculate the first two months' instalments based upon the total instalment base amount entered.
The following options are applicable for the keyword InstalBaseCF.
Use the keyword Estimate-Crd to enter the estimated credits that are foreseen by the corporation for the following year.
This information will be used in calculating the corporation's instalments for option 2 (previous tax year) and option 3 (previous two tax years).
Use RecInstal to enter estimated taxes payable for the next taxation year if the instalment method used is the current year (estimated tax) method. Enter either the total estimated taxes or the monthly payments recommended to the corporation.
The following options are applicable for the keyword RecInstal.
January
February
March
April
May
June
July
August
September
October
November
December
Total for the year
Use CurrInstal to enter payments already made for the subsequent taxation year. DT Max will adjust the other monthly instalment payments on the schedule for the payments already made.
The following options are applicable for the keyword CurrInstal.
January
February
March
April
May
June
July
August
September
October
November
December
First quarter
Second quarter
Third quarter
Fourth quarter
Use Quarterly-Instal to indicate whether or not the corporation wants to be considered as a quarterly instalment remitter, if the corporation is eligible.
The following options are applicable for the keyword Quarterly-Instal.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 293 - Quarterly instalment remitter
See the CRA's general income tax guide:
Line 293 - Do you want to be considered as a quarterly instalment remitter, if you are eligible?
Use PaymentCode if the payment option desired for this client's income taxes owing is different from the option chosen in your setup of user defaults.
The following options are applicable for the keyword PaymentCode.
Full balance for every jurisdiction This option is relevant if the full amount of taxes owing will be paid when the return is filed.
Other enclosed amount(s) by jurisdiction If an amount other than the full balance due is enclosed (e.g., a partial or overpayment of taxes), choose this option and enter the amount of that payment in the PaymentEncl keyword. Use ALT-J to specify different enclosed payments for each jurisdiction for which a return is filed.
For British Columbia, choose this option to indicate whether prior years' overpayments of capital tax should be applied to reduce current year capital tax payable.
No payment for any jurisdiction If no payment is being enclosed, choose this option.
Use PaymentEncl when a partial payment of taxes owed will be enclosed with the tax return filed. Use [Alt-J] to enter different values for other jurisdictions.
Use PaymentDate-Qc to enter the date of enclosed payment for purposes of Quebec COZ-1027.P.
Use PaymentEncl-Qc when a partial payment of taxes owed will be enclosed with the tax return filed.
Use PaymentMethod to indicate the method of payment on Quebec form CO-17.SP if a balance is due.
The following options are applicable for the keyword PaymentMethod.
Cheque or money order
Financial institution
Online
Use RefundCode if the refund code desired for this client's income tax refund is different from the code chosen in your setup of user defaults.
The following options are applicable for the keyword RefundCode.
Claim refund Choosing "Claim refund" indicates that you are claiming the refund now.
Future tax liability Choosing "Future tax liability" indicates that the refund is to be applied to future years' taxes payable.
Other tax liability Choosing "Other tax liability" indicates that the refund is to be applied to another type of tax liability of the corporation.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 894 - Refund code
See the CRA's general income tax guide:
Line 894 - Refund code
Use ProvRefund if the refund code desired for this corporation's provincial income tax refund is different from the code chosen in your setup of user defaults.
The following options are applicable for the keyword ProvRefund.
Claim refund Choosing "Claim refund" indicates that you are claiming the refund now.
Future tax liability Choosing "Future tax liability" indicates that the refund is to be applied to future years' taxes payable.
Other tax liability Choosing "Other tax liability" indicates that the refund is to be applied to another type of tax liability of the corporation.
Transfer to a third party Choosing "Transfer to a third party" indicates that any amount owed to the corporation under the Taxation Act may be transferred to a third party without, however, the government being obligated to do so.
Use QC-RefundCode if the refund code desired for this corporation's Quebec income tax refund is different from the code chosen in either your setup of user defaults or the code chosen for federal purposes.
The following options are applicable for the keyword QC-RefundCode.
Claim refund Choosing "Claim refund" indicates that you are claiming the refund now.
Future tax liability Choosing "Future tax liability" indicates that the refund is to be applied to future years' taxes payable.
Transfer to a third party Choosing "Transfer to a third party" indicates that any amount owed to the corporation under the Taxation Act may be transferred to a third party without, however, the government being obligated to do so.
Distribution of the refund Choosing "Distribution of the refund" indicates that the refund is to be split between claiming part of the refund now, part of the refund to future years' taxes payable, and part of the refund to be transferred to a third party.
If the corporation has a refund in the current tax year, use Distribution-Amt to enter the amount of the refund that is to be distributed between the applicable refund codes.
The following options are applicable for the keyword Distribution-Amt.
Claim refund Choosing "Claim refund" indicates that you are claiming the refund now.
Future tax liability Choosing "Future tax liability" indicates that the refund is to be applied to future years' taxes payable.
Transfer to a third party Choosing "Transfer to a third party" indicates that any amount owed to the corporation under the Taxation Act may be transferred to a third party without, however, the government being obligated to do so.
Use AB-RefundCode if the refund code desired for this corporation's Alberta income tax refund is different from the code chosen in either your setup of user defaults or the code chosen for federal purposes.
The following options are applicable for the keyword AB-RefundCode.
The amount entered in TotInstal-T9 will print on the federal schedule of instalments paid in the year. The CRA uses this amount to reconcile payments made according to its records with payments according to this corporation's records as disclosed on the instalments paid schedule. If an unreconciled discrepancy exists, the CRA will use the total from the T9 statements when assessing the corporation.
Use the keyword Journalism-TaxCr to claim a journalism labour tax credit.
The following options are applicable for the keyword Journalism-TaxCr.
See the Taxnet Pro™ T2 Line-by-Line Guide (subscription required):
Line 798 - Journalism labour tax credit
See the CRA's general income tax guide:
Line 798 - Canadian journalism labour tax credit
Use the keyword QJO-Period to indicate the start and end date period in the current year throughout which the corporation is a qualifying journalism organization.
The following options are applicable for the keyword QJO-Period.
Use the keyword QCJO-Number to enter the QCJO (qualified Canadian journalism organization) designation number. Do not include the Q prefix in the entry.
Use the keyword Employee-Name.jr to enter the name of the eligible newsroom employee.
Use the keyword SIN.jr to enter the SIN of the eligible newsroom employee.
Use the keyword Salary.jr to enter the salary and wages payable to the eligible newsroom employee after December 31, 2018 in respect of the portion of the tax year throughout which the corporation is a QJO.
Use the keyword Assistance.jr to enter the assistance the corporation received or is entitled to receive in respect of salary and wages of this eligible newsroom employee. Such assistance includes amounts received from a provincial or territorial government.
Use the keyword Cred-Alloc to enter the amount of Canadian journalism labour tax credit that is allocated to the corporation that is a member of a partnership that is a QJO.
The following options are applicable for the keyword Cred-Alloc.
Publishers and media organizations that receive funding from the Aid to Publishers component of Canada Periodical Fund are eligible for the credit. However, the credit will be reduced by the amount they are entitled to receive in the year from Aid to Publishers.
Use the keyword PublishersAid to enter the amount received from Aid to Publishers component of Canada Periodical Fund in the year.
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TaxType-Inst 
QC-RefundCode 
Distribution-Amt