We have released an automatic update for the prior versions that were previously only available by full download. Installing this auto-update will give you the new T2 module along with the 2016 T1/TP1, T3 and slips preview/planning modules. It also includes a few other minor changes.
We recommend everyone install this release to get the most up-to-date enhancements.
Cumulative update of prior three releases
Installing this release rolls up the following three releases that were previously only available by manual download.
TaxCycle version 5.0.29702.0
- New T2 module for year ends up to Oct. 31, 2016
- T1135 EFILE for corporations
- New and updated T2 forms
- New look for ribbon and Quick Access Toolbar
- Field description highlighting
- Performance improvements to options
- Windows® Terminal Server enhancements
TaxCycle version 5.0.29811.0
- Fix to an issue with Import GIFI, Auto-fill my return, SlipSync and other icons
- Module field in the Template Editor accepts spaces in between modules.
TaxCycle version 5.0.29782.0
- Preview 2016 T1/TP1 rates and forms
- Co-ordinating DoxCycle release
- Enhancements for Windows® Terminal Services
- Prepare and file 2016 T3 returns
- Prepare and file 2016 T4/T4A, T5 and T5018 slips
- Fix to fatal crash reported in the prior release
- Update to .NET 4.6
If you install this release and you use DoxCycle, please install the co-ordinating DoxCycle auto-update at the same time. If you do not, either application may not respond correctly to linking/posting actions.
New forms in TaxCycle Forms
The following forms are no longer in draft in TaxCycle Forms.
- T123—Election on disposition of Canadian securities
- GST20—Election for GST/HST reporting period
- GST44—Election concerning the acquisition of a business or part of a business
- GST66—Application for GST/HST public service bodies' rebate and GST self-government refund
- GST70—Election or revocation of an election to change a GST/HST fiscal year
- GST71—Notification of accounting periods
- GST74—Election and revocation of an election to use the quick method of accounting
- RC199—Voluntary disclosures program (VDP) taxpayer agreement
- T1261—Application for a Canada Revenue Agency individual tax number (ITN) for non-residents
- T2022—Election in respect of the sale of debts receivable
New Preparer section on T4, T5, T5018 and NR4 Info worksheet
We've added a new Preparer section on the Info worksheet in the 2016 modules of TaxCycle T4, T5, T5018 and NR4.
- The Preparer section contains fields for the preparer's name, phone number, position or office, email address and preparer number/ID. This information is populated from TaxCycle options when you create or carry forward a return.
- If the fields are out-of-date, click the link to re-enter the information set in options.
- If you select Preparer as the contact person in section below the Preparer section, the Contact person section will now pull information from the Preparer section on the Info worksheet and not directly from TaxCycle options.
.NET 4.6 update on Windows® 8 requires a restart
If you're running Windows® 7 or Windows® 8, your system may need to update to .NET 4.6. Windows® 10 systems already have .NET 4.6 installed, so there is no additional installation. (You can check your .NET version on the TaxCycle start screen.)
The TaxCycle auto-update will download and install .NET 4.6 automatically if you need it. On Windows® 8, this requires restarting in the middle of the update. After restarting, TaxCycle will not re-open automatically. And, when you next run TaxCycle, it will prompt you to install the automatic update. On Windows® 7, this restart process does not occur.
Other fixes and enhancements
- The default TaxCycle print sets now properly include all forms. If you installed any of the previous releases, some forms may have showed as an Unknown ID. If you created a print set after installing any of the above releases, this version will update the set with the correct form name.
- SlipSync once again works within TaxCycle T3
Carry forwards from Taxprep® and ProFile® software
The following carry forwards are added in this release:
- From 2015 Taxprep® files.
- From the latest ProFile® software release for all tax return types types (for full list, see the Competitor carry forward page).
- From Intuit® TurboTax® Business Incorporated years 2013-16.
- The PostSeason template has been updated and added to TaxCycle T1/TP1 2015.
- The PreSeason letter in TaxCycle T1 2016 now shows the new RRSP deadline of March 1, 2017
- The following change was made to the JLetterJoint Letter template in all years of TaxCycle T1/TP1. The Pension Income Splitting section now only appears for the taxpayer who is eligible to split their pension income, rather than under both the principal taxpayer and spouse. If you have customized your templates and wish to change this section, here is the before and after text. To copy and paste the text, open the built-in JLetter after you update to this version and paste the text into your custom template.
This release is available as an automatic update. To learn more about installing auto-updates from within TaxCycle, read the help topic on updating TaxCycle.
Of course, this release is also available as a full download from our website and as a free trial.