This TaxCycle release adds 2017 versions of T3 forms, electronic filing for the 2017 T3RET, as well as the final 2017 versions of the T5013 and T3010. It also finalizes more 2017 T1 forms, and enables Smart Copy/Paste for rental, fishing and farming statements—as well as AgriStability forms—in TaxCycle T1.
This version is available as an automatic update, as a full download from our website, and a free trial.
Who should install this release?
Please update to this release before filing T3RET, T3010 or T5013 returns.
Synchronized Client Manager update required
To support the changes to Client Manager options in this release, please update the Client Manager server at the same time as you update TaxCycle on computers connecting to it.
- Final 2017 T3 forms ready for filing
- New!—T3RET electronic filing for 2017
- New!—T3APP added to TaxCycle T3
- New!—Residency status field in T3
- 2017/18 update to T3010
- Final 2017 T5013 return and slips
- New!—Smart Copy/Paste of T776, T2042, T2121 income statements and AgriStability forms
- More final 2017 T1/TP1 forms
- NetFile Québec for 2016 and 2017 TP1
- AgriStability/AgriInvest forms updated in TaxCycle T2
- New!—Linking from TaxCycle T3, T4/T4A, T5 to DoxCycle
- Improved Client Manager options
- Customer-requested fixes/enhancements
Final 2017 T3 forms ready for filing
This release updates TaxCycle T3 with the 2017 versions of all T3 forms. This includes changes to:
- T3 jacket and schedules 1 through 12
- All provincial credit forms
- Filing and authorization forms: T3A, T3ADJ, T3QDT, T1079, T1013, T1135
- Tax and credits forms: T3FFT, T3PFT, T3QDT-WS
- Beneficiary slips: T3, NR4, T3SUM, NR4SUM
As part of this update, you will notice the following new forms, features and fields:
- Electronic filing of the T3RET (see below).
- The addition of the T3APP form (see below).
- A new Filing deadline field on the Info worksheet. It appears above the Signing date field in the Filing section. This field is calculated as 90 days after the trust's year end date.
- A new Residency status field on the Info worksheet to indicate the status of non-resident S216 filers (see below).
New!—T3RET electronic filing for 2017
You can file the T3RET electronically. T3RET Internet file transfer is only available for 2017 and later years, if a trust’s taxable income, total taxes payable, and refund or balance owing are zero. The CRA has published a full list of restrictions related to electronically filing a T3RET on their T3 RET, T3 Trust Income Tax and Information Return page.
The process is the same as for slips and other types of returns filed through Internet file transfer (XML).
- Follow the steps in the Transmit sidebar to prepare for filing. See the Internet File Transfer (XML) help topic to learn how.
- TaxCycle T3 will determine which returns are eligible for Internet filing. Check the T3RET EFILE worksheet for details of any exclusions. If the return is not eligible, please print and file the return on paper. To learn more, see the File T3 returns and T3/NR4 slips help topic.
New!—T3APP added to TaxCycle T3
The form T3APP (T3 Application for trust account number) has been added to TaxCycle T3. To transfer trust information from the Info worksheet to this form, check the Request an account number box at the top for the form.
New!—Residency status field in T3
The 2017 T3 update adds a new Residency Status field on the Info worksheet. Use this field to indicate the status of non-resident S216 filers. How this field works:
- Set the Province/territory of residence to Non-resident.
- Select Non-Resident S.216 from the Residency Status field.
- A message appears at the top of the T3 jacket indicating the S216 return type.
- A suggestion review message appears in the Account number field on the Info worksheet to remind you to that a different account number format may be required.
2017/18 update to T3010
This release updates TaxCycle T3010 with the latest forms and calculations. This includes updates to the T3010 jacket, as well as the T1235 Directors/trustees and like officials worksheet and T1236 Qualified donees worksheet / Amounts provided to other organizations. This version supports filing T3010 returns for any tax year up to and including 2018. The single T3010 module supports filing years from 2013 to 2018.
Final 2017 T5013 return and slips
This release adds the final versions of 2017 T5013 partnership returns and slips. All warnings and watermarks have been removed from the forms. You can now file with this version. See the Internet File Transfer (XML) help topic to learn how.
The following changes were made for the 2017 tax year.
T5013Slips—Explanation of amended slips
For any amended or cancelled slips, CRA now requires a description to explain the reason for the amendment. That description needs to be entered in the Info worksheet prior to filing.
New!—S8RecWS for reconciling changes in fixed assets during the partnership's fiscal year
The S8RecWS worksheet shows changes to capital assets made over the tax year and reconciles the amounts calculated for accounting and tax purposes.This is similar to the T2 worksheet. See Schedule 8 CCA and Assets help topic.
Line 210 was removed on the T5013 FIN: Does the partnership have any property that is eligible capital property?
T5013 SCH1, lines 108, 153, 405 eliminated
Removed the following lines on the Schedule 1:
- Line 108—Income recapture inclusion on sale of eligible capital property from Schedule 10
- Line 153—Residual income inclusion on sale of eligible capital property from Schedule 10
- Line 405—Cumulative eligible capital deduction from Schedule 10
Revised to remove separate reporting for gifts to Canada, a province or territory.
T5013 SCH6, line 982 eliminated
Line 982—From Schedule 10 (enter the amount from line 103) was removed. This applies to subsection 14(1.01) or (1.02) election for eligible capital property (other than goodwill) disposed of in the fiscal period.
When you select class 43.1 and/or 43.2 on Schedule 8, the following new types of asset codes become available in column 301 of the table at the bottom of the form:
- 23 Geothermal energy equipment acquired after March 21, 2017
- 24 Thermal energy source acquired after March 21, 2017
Effective January 1, 2017, the rules governing eligible capital property (ECP) are replaced by the new Class 14.1. Property that would be eligible capital property prior to January 1, 2017 will become depreciable property in the new Class 14.1 after December 31, 2016. Please review the Schedule 10 and Class 14.1 help topic.
A new type of partner code has been created for Registered charities and registered Canadian amateur athletic associations in field 105 of the Schedule 50. Code 10 will be used to identify these types of partners.
New!—Smart Copy/Paste of T776, T2042, T2121 income statements and AgriStability forms
This release adds Smart Copy/Paste to the following forms in TaxCycle T1:
- T776 Statement of real estate rentals
- T2042 Statement of farming activities
- T2121 Statement of fishing activities
- Between T1163/T1164 copy and paste from the T2042 to the T1163/T1164 will come in a future release)
- (T2125 Smart Copy/Paste was previously added in version 7.0.32343.0)
Learn how to use Smart Copy/Paste by reading the Smart Copy/Paste help topic.
More final 2017 T1/TP1 forms
The following 2017 forms are final in this release:
- T1 and TP1 income statements: T776, T2125, T2121, T2042, T1172, TP-128, TP-80, TPFarm, TPFish
- TP-931.1, TP-1000, and TP-776.42
- T746, T2205, T1172, T1243, T1244, T1-OVP, T3012A, and DC905
The 2017 version of the T1013 authorization form is now certified both paper filing with a barcode and electronic filing. You can begin using this form immediately. After February 12, 2018, it is the ONLY version of the form the CRA will accept. (The T1013 in the 2016 T1 module will only be accepted until February 9, 2018.)
The following forms remain in preview state and are still under review. They will show a Preview watermark:
- All AgriStability/AgriInvest forms
- Multiple jurisdiction forms and calculations for both Federal and Québec returns. (The provincial 428 schedules do not show the watermark because they are final for returns other than multiple jurisdictions.)
- Bankruptcy worksheet and calculations.
- T2038 Investment tax credit (individuals)
- Québec TP-965.39.4, TP-1029.8.66.2, and TP-1029.9
NetFile Québec for 2016 and 2017 TP1
The NetFile Québec system is currently closed for filing TP1 tax returns. It will re-open on February 26, 2018. At that time, you will be able to file tax returns from 2016 and 2017 tax years.
AgriStability/AgriInvest forms updated in TaxCycle T2
All AgriStability/AgriInvest forms have been updated to the 2017 version in TaxCycle T2. This includes the commodity, income, and inventory codes.
New!—Linking from TaxCycle T3, T4/T4A, T5 to DoxCycle
You can now link TaxCycle T3, T4/T4A and T5 files with DoxCycle, this includes the ability to:
Improved Client Manager options
This release changes the Client Manager server options to make them easier to configure and troubleshoot. Key changes to note are as follows:
- On the main Client Manager page in options, and on all the pages in the detailed configuration options, you will now see a summary of the status of the Client Manager server to tell you whether it is running or stopped.
- Below this summary, links appear to help you to open the detailed configuration, start indexing the database, and view the log files.
- At the top of the Server Settings page in the detailed Client Manager options, you will now see more buttons to help you with the common tasks: Start, Stop, Restart, Remove. The Stop and Restart buttons will now retain any changes made to the server's logon account. Remove stops the server and uninstalls it completely. (Previously, Stop would perform the action of Remove.)
- On the Monitored folders page in the detailed Client Manager options, new buttons in the last column of the list of folders allow you to test whether the Client Manager has permissions to access those folders. Click a button next to a particular row, or in the header to test all folders.
- The Index Now button on the Monitored folders page now resets the database before indexing. This deletes all information in the database and starts it fresh. (Previously, you needed to reset the database before running an index.)
- The T2062SA Schedule 1 has been added to the TaxCycle Forms module: Request by a non-resident of Canada for a certificate of compliance related to the disposition of Canadian resource or timber resource property, Canadian real property (other than capital property), or depreciable taxable Canadian property.
- A new File Drive column in the Client Manager allows you to display the drive where the file is located, without the path after it. For example C:\, or a network server name.
- When T4OAS slip appears on the checklist of pre- and post-season letters, it no longer shows a count of zero. It now shows a one instead. As requested in this post in our online community.
- If you attach a tape to a calculated field when the automatic override option is disabled, the tape appears next to the field when you hover, but the amount does not get posted to the field. (Requested by a customer who wanted to reconcile a calculated amount with a list in a tape.)
- Opening a new tape with the plus (+) key will insert the value currently in the first line of the tape.
- The Import Excel® icon that appears at the far left of the Data tab in slips modules has been changed to blue to better differentiate it from the Import Excel® icon on the right side of the menu that is for importing a single form into any module.
- The summary at the bottom of the the Instalment worksheet in TaxCycle T1 now populates correctly when Automatic is selected. This was preventing the instalments table from appearing in the client letter templates.
- T2 New File options—You can now set options 1a) and 1 b) on the T2 Optimizations worksheet as default for all years, as requested in this post in our online community.