enfr

News

News > TaxCycle version 6.0.31052.0—Fix to the XML for filing the T5013FIN and T2 T2054/CDA Next Year worksheet

TaxCycle version 6.0.31052.0—Fix to the XML for filing the T5013FIN and T2 T2054/CDA Next Year worksheet


This TaxCycle update fixes an issue with the T5013FIN XML that was causing an error after filing. It also includes a new T2 CDA Next Year worksheet to make an election after the corporation 's year end, and a new clause addressing the reporting requirement for the sale of a principal residence in the T1 2016 Engagement letter (ELetter)

This release is available as an automatic update. It is also available as a full download from our website and a free trial

Who should install this release?

  • Anyone who intends to file T5013FIN with TaxCycle T5013 must update to this release. 

Release highlights

  • Fix to the XML for filing the T5013FIN
  • New T2 CDA Next Year worksheet
  • New TaxCycle T2 review message for donations
  • Sale of principal residence clause added to the T1 2016 ELetter
  • Fixes to other reported issues

Fix to the XML for filing the T5013FIN

We have received reports of difficulties transmitting T5013FIN returns using TaxCycle T5013. The return appears to upload correctly to CRA Internet File Transfer (XML) system, but then the preparer later receives an email saying that it did not meet submission specifications.

This update fixes the XML schema for the file that is uploaded to the CRA. Please re-transmit any returns affected by this issue.

New TaxCycle T2 T2054/CDA Next Year worksheet

In response to a discussion on our Online Community, we have added a worksheet that will allow you to prepare T2054 for the period after the tax year end of the corporation for which you are preparing the T2 return.

  1. The first page of the CDA Next Year worksheet shows the date that is one year from the year end of the current file.
  2. The second page of the worksheet contains the T2054 form.
  3. When you print the CDA Next Year worksheet, it also prints the T2054. 

Next Year CDA worksheet and T2054

New TaxCycle T2 review message for donations

In response to a discussion on our Online Community, we have added a review message when the amount of donations—GIFI code 8522—on the S125 doesn't agree with the charitable donation amount entered in Schedule 2. 
Message on the S125 or S2 about donations mismatch

 

Sale of principal residence clause added to the T1 2016 ELetter

We have added a clause to the ELetter in TaxCycle T1 2016 to inform your clients regarding the new requirement for reporting the sale of a principal residence on their tax return. It was inserted as point c) and the subsequent clauses were renumbered accordingly.

Principal residence clause in Template Editor

Fixes to other reported issues

  • TaxCycle T1 now carrries forward motor vehicle worksheets in coupled returns, even if the worksheet is not shared between spouses. We previously received reports that the worksheet carry foward was skipped when it wasn't shared.
  • The corporate linking in TaxCycle T2 no longer attempt to open a ProFile T2 return if it finds one with the same  business number. 

 

Join Our Newsletter

Sign up to get TaxCycle news delivered right to your inbox.