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News > TaxCycle version 6.1.31427.0—Multiple jurisdiction returns certified for T1 EFILE, new long T1 summaries, Québec Solidarity tax credit estimate

TaxCycle version 6.1.31427.0—Multiple jurisdiction returns certified for T1 EFILE, new long T1 summaries, Québec Solidarity tax credit estimate


This TaxCycle release is certified for filing multiple-jurisdiction returns using Canada Revenue Agency (CRA) T1 EFILE. It also includes changes to Saskatchewan PST rate, estimated Québec Solidarity tax credit, and enhancements to T1 summaries (including French translations).

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

Who should install this release?

This release contains the latest features and calculations for filing T1 returns. All TaxCycle customers should update their software.

Release highlights

  • Multiple jurisdiction returns CRA certified for T1 EFILE
  • Enhancements to T1 summaries
  • ReFILE and the signing date on the T183
  • Cumulative balance of unused losses calculated from AFR data
  • Québec Solidarity tax credit estimate
  • Saskatchewan PST increase
  • Elimination of the health contribution for low- and middle-income individuals in Québec
  • Rush, plus optional auto-update setting
  • Resolved issues
  • New video

Multiple jurisdiction returns CRA certified for T1 EFILE

You can now electronically file 2016 multiple jurisdiction returns from TaxCycle T1.

Enhancements to T1 summaries

Summaries are a popular and important review feature. This release adds the following enhancements, based on your feedback:

  • Two new "long" summaries. FL—Family Summary (long) and JL—Joint Summary (long) show all fields, including those with zero values.
  • The 2016 Joint, Family and 2-year client summaries are now available in French.
  • The parentheses around (Refund) now show consistently in the labels on all summaries.

ReFILE and the signing date on the T183

A review message now alerts you if you have created a T1-ADJ and the signing date on the T183 is earlier than the date of the T1-ADJ. Use the Quick Fix options to set the signing date, including matching it to that on the T1-ADJ.

Signing date review message on T183

Cumulative balance of unused losses calculated from AFR data

Three new columns to the right of the capital gains and losses table calculate the cumulative balance of unused losses based on data downloaded from Auto-fill my return (AFR). The related review message now includes a Quick Fix to enter the calculated balance into the various periods across row A on the Net Capital Loss worksheet. The calculated spread applies oldest losses first.

Québec Solidarity tax credit estimate

This release adds a calculation to estimate the Solidarity tax credit for Québec residents. The new Solidarity worksheet shows the detailed calculation of the estimate. It shows the annual estimate, the payment frequency, and the estimated payment amount. The estimate also appears at the bottom of the TP1 Short Summary.

Saskatchewan PST rate increase

In its 2017 budget announcement, the government of Saskatchewan raised the PST from 5% to 6% as of Thursday, March 23, 2017. The tax is also being expanded to include children's clothing and restaurant meals, as well as insurance premiums and construction services.

If you changed your sales tax options temporarily to comply with this change, please reset them to the default Saskatchewan rate. If you have been overriding the rate on the Billing worksheet, you will not longer need to do this.

Elimination of the health contribution for low- and middle-income individuals in Québec

In the Budget Speech delivered on March 28, 2017, Québec's Finance Minister announced that the health contribution would be eliminated retroactively for low- and middle-income taxpayers.

This means that as of the 2016 tax year, individuals whose net income (line 275) is $134,095 or less, no longer have to pay the health contribution. Individuals whose net income is greater than $134,095 must still pay the health contribution. The calculations in TaxCycle T1/TP1 now reflect this change.

Rush, plus optional auto-update setting

A new Rush, plus optional auto-update setting allows you to receive both the Rush updates and any optional updates we release. We plan to release an optional update later in April with new, but non-mandatory features. This allows interested TaxCycle users to try the new features during busy tax season, if they wish. Release notes will clarify if this setting is required to receive the auto-update.

Resolved issues

  • T1 Donations—Right-clicking on the Donations worksheet no longer causes a crash if you click somewhere other than in a field or table.
  • T1 Auto-fill my return (AFR)—Importing AFR no longer causes an exception when all clients are selected but data was previously downloaded for just one client.
  • T1 Auto-fill my return (AFR)—When data was downloaded for just one client and not imported, TaxCycle no longer checks the "Use previously downloaded data" box when opening the AFR window. It only does this when all clients have downloaded information in the file.
  • T1 Auto-fill my return (AFR)—Undoing an AFR import now also removes the data imported event in History.
  • T1 Harmonized AgriStability—Attempting to transmit a return with multiple harmonized AgriStability forms through EFILE no longer returns a message saying "CRA is having technical difficulties, try again later." We have adjusted the order in which these forms are included in the transmitted file to resolve this issue.
  • T1 Foreign Tax Credits—Employment income on the Foreign slip is no longer being reduced by the amount of rental income on that same slip.
  • TP1—TP-80 line 522 now calculates 100% of line 518 when box 517 is checked.
  • T3—The issuer name field on the NR4 Summary has been lengthened. A second issuer name field was also added, to allow transmission of up to 60 characters.
  • T1 CLetter and JLetter—We have adjusted the conditions and text in the RRSP over-contribution paragraph in the CLetter, JLetter (and their French equivalents, LettreC and LettreJ). If you are using the built-in letters, you will automatically receive this change. If you have customized your letter, you will want to review the new paragraph in the built-in letters and copy and paste it to your letters to see the change.

New video

How to get this release

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

Who should install this release?

This release contains the latest features and calculations for filing T1 returns. All TaxCycle customers should update their software.




 

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