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News > TaxCycle version 7.1.32949.0—Final 2017 T1/TP1 forms, Auto-fill my return (AFR) enhancements, Québec TP-646 added and CO-17 updated

TaxCycle version 7.1.32949.0—Final 2017 T1/TP1 forms, Auto-fill my return (AFR) enhancements, Québec TP-646 added and CO-17 updated


This version of TaxCycle finalizes T1 forms and calculations for 2017 and adds great new features to Auto-fill my return (AFR). It is also the inaugural release of the Québec TP-646 trust return and RL-16 slips in TaxCycle T3. 

This version is available as an automatic update, a full download from our website, and a free trial. If you are distributing the automatic update yourself, you can download it here

Release highlights

  • Final 2017 T1/TP1 forms
  • T7DRA enhancements
  • Auto-fill my return (AFR) enhancements
  • New!—AFR SlipMatch for T3 slips
  • New!—Québec TP-646 added to TaxCycle T3
  • Québec CO-17 certified for tax year ends up to May 31, 2018
  • New!—CO-17 subsidiary wind-up section
  • New CO-17 forms
  • Updated T2/CO-17 forms
  • New mailing addresses for the T1134 and T106
  • Update to T3010
  • Update to TaxCycle Forms module
  • Invoicing and Client Contact column layouts for the Client Manager
  • New!—Sidebar display option
  • Templates changes
  • New!—Template join function
  • New!—Template mask function
  • Customer-requested fixes and enhancements

Final 2017 T1/TP1 forms

The following forms are now final in the 2017 version of T1/TP1. The Preview watermark has been removed and the calculations are ready for filing:

  • Multiple jurisdiction forms and calculations for both Federal and Québec returns
  • Bankruptcy worksheet and calculations
  • T2038 Investment tax credit (individuals)
  • TP776.1.ND
  • TP1029.8.66.2

T7DRA enhancements

Based on recent feedback, we have made the following enhancements to the new T7DRA form:

  1. If there is a balance owing on the return, TaxCycle automatically adds the balance owing on the return to the form and marks the form as used.
  2. Amounts already paid through PAD or other T7DRA forms are automatically added to the first field.
  3. The second field allows you to enter other amounts paid to the CRA by other means.
  4. TaxCycle subtracts these two values from the balance due on the return to calculate the payment on the T7DRA.
    T7DRA payments
  5. When you print the T7DRA, the date is automatically entered.
  6. The form is also locked upon printing and all fields turn to green non-edit fields.
  7. The message at the top of the form provides shortcut links to unlock and update the current form or create a new form.
    Locked T7DRA

Auto-fill my return (AFR) enhancements

We have made the following changes to the Auto-fill my return (AFR) matching dialog box for this release:

  1. The dialog box is now non-modal. This means you can keep the box open on screen while you work in a TaxCycle file. You can also click on values in the current year column of the preview to jump to that slip.
  2. A new Reset matching link at the top of the matching dialog box allows you to reset the automatic matches for all slips under an individual. This removes any changes you made to the import destination, regardless of whether you are using the basic matching or the new SlipMatch (see below).
  3. The aggregate functions and export have moved to the bottom preview side of the AFR window. This works the same as before, except when using SlipMatch to aggregate into a fund company name instead of the downloaded name (see below).
  4. After aggregating slips, the source names of all the slips appear in a list on the preview side of the window to help you better tell what slips are affected if you change the destination. (Remember, you can still click the down arrow to the right of the drop-down to see a check list of all the downloaded slips and add or remove them.)
  5. After aggregating slips, a new field opens up to allow you to edit the name of the issuer on the destination slip.

AFR 2017 enhancements

New!—AFR SlipMatch for T3 slips

TaxCycle preparers tell us they LOVE Auto-fill my return (AFR) in TaxCycle T1 because it makes their work easier, faster and more accurate. However, one of the challenges with reviewing data downloaded from AFR is reconciling it with the slips and statements your clients give you. The names on the statements are often different and divided up differently than in the AFR download. Reconciling these differences becomes more involved when you want to aggregate similar slips and retain those matches year-over-year, client-to-client. This is why we created SlipMatch.

The current beta version of SlipMatch automatically suggests matches of T3 slips downloaded from AFR with a list of fund company names we download into TaxCycle. (We have more plans for the service in the future.)

We’re debuting SlipMatch as a beta feature for you to try this season and tell us what you think. To try it out, select the check box when on the AFR screen before you download. When launching the AFR process, select this box before you begin the download: 

Enable AFR SlipMatch

After the download, you will notice the following differences in the AFR matching dialog box:

  1. When you enable SlipMatch before downloading data from Auto-fill my return (AFR), suggested fund company names appear below the fund name for each slip
  2. In the cases where SlipMatch is less certain of matching fund company, the name is preceded by the word Maybe.
  3. If there are several slips that match the same fund company name, SlipMatch suggests aggregating those slips into one slip using the fund company name as the slip issue, making it easier for you to reconcile totals that appear on your clients' statements. (Without SlipMatch, this suggestion occurs based on the fund name.)

afr-slipmatch-differences

New!—Québec TP-646 added to TaxCycle T3

This release adds support for the Québec TP-646 trust income tax return and related RL-16 relevés to TaxCycle T3. It supports TP-646 returns for the 2017 tax year.

It supports TP-646 filing for trusts resident in Québec with beneficiaries in Québec or living in Canada outside of Québec. It excludes allocation calculations for beneficiaries not resident in Canada (calculations for non-resident beneficiaries are planned for a future release).

This release supports the carryforward of data from TP-646 returns prepared in ProFile® T3.

Existing T3 worksheets and summaries have been modified to support Québec amounts. The following forms have been added to support TP-646:

Jacket and schedules

  • TP-646 jacket
  • Schedule A (TPA)
  • Schedule B (TPB)
  • Schedule C (TPC)
  • Schedule D (TPD)
  • Schedule E (TPE)
  • Schedule F (TPF)
  • Schedule G (TPG)
  • Schedule H (TPH)

Income statements

  • TP-80
  • TP-128.F

Income, tax and credits

  • TP-653
  • TP-668.1
  • TP-729
  • TP-750
  • TP-77642

Beneficiairies

  • RL-16 (at the bottom of the T3Ben)

Worksheets

  • TPIncomeDeductions
  • TPABIL worksheet

Keying summaries

  • TPF-646.W
  • TPF-646.X
  • TPF-646.Y
  • TPF-646.Z 

To trigger a Québec TP-646 return when preparing a federal T3 return:

  1. Choose Québec from the Province/territory of residence drop-down on the Info worksheet.
  2. This reveals two new sections in the Prepare sidebar with the related TP-646 schedules.
    tp-646-sidebar-residency
  3. The related RL-16 relevé appears for the beneficiary at the bottom on the T3Ben slip.
    Rl-16 on the T3Ben
  4. The Print/PDF sidebar shows additional print sets for TP-646, including the TP-646 Revenu Québec copy for filing the return.
  5. To print RL-16 slips for recipients, choose one of the RL 16 slips views from the menu at the top of the Print/PDF sidebar.
    TP-646 print sets

Québec CO-17 certified for tax year ends up to May 31, 2018

TaxCycle T2/CO-17 is now certified for preparing Québec CO-17 corporate tax returns with an earliest tax year start of January 1, 2016 and a latest tax year end of May 31, 2018. For federal T2 and Alberta AT1 returns, you can continue to file tax returns with an earliest year start of January 1, 2011 and latest year end of May 31, 2018. 

New!—CO-17 subsidiary wind-up section

Prior to this release, you were required to manually answer the question pertaining to winding up subsidiaries during the year that appears in the Québec CO-17 section of the Info worksheet: Did the corporation wind up one or more of its subsidiaries during the year? (CO-17S.36) This behaviour has changed in the following ways:

  1. The response to this question is automatically entered based on the equivalent question in the federal Filing section on the Info worksheet (Has there been a wind-up of a subsidiary under section 88 during the current tax year?)
  2. Once the question in the Québec CO-17 is set to Yes, a new section on Subsidiary wind-up appears.
  3. The fields in the Subsidiary wind-up section are automatically completed based on information on QC24 (CO-17S.36).

Info worksheet subsidiary

New CO-17 forms

  • CO-771.1.3.AT—If the reporting corporation is making an assignment of business limit to another CCPC which has specified corporate income (SCI), complete federal Schedule 7, part 6. If the reporting corporation has SCI and is receiving an assignment of business limit from another CCPC, complete the federal T2 jacket table at the bottom of page 4.
  • CO-771.2.1.AT and CO-771.2.1.2—To complete these forms, fill out part 3 on the federal Schedule 7.
  • CO-1138.1
  • CO-786 (QC16)—This form is automatically calculated based on data entered in the federal Schedule 16. To calculate part 5 of the CO-786, complete the QC16 Worksheet (QC16WS)
  • COZ-1027.P—Include and mail this remittance slip to pay an amount due by cheque or money order.

Updated T2/CO-17 forms

  • T1044
  • T1134
  • T106
  • T2 Client Letter now includes a section on CO-17
  • CO-17.A.1—On page 3, eight new lines were added (129di to 129ki and 129d to 129k), and eight lines were removed (140ci to 129ji and 129c to 129j).
  • CO-771, CO-1029.8.33.13, and IN-417.A—Minor updates

New mailing addresses for the T1134 and T106

Effective October 23, 2017, the mailing addresses when paper filing the T1134 and T106 have changed. You must use the new address to submit your original return, amended return or additional information.

Mail the T1134 to:

Winnipeg Taxation Centre
Data Assessment & Evaluation Programs
Validation & Verification Section
Foreign Reporting Returns
66 Stapon Road
Winnipeg, MB  R3C 3M2

For more information visit the CRA page on the T1134 information return.

Mail the T106 to:

Winnipeg Taxation Centre
Data Assessment & Evaluation Programs
Validation & Verification Section
Foreign Reporting Returns
66 Stapon Road
Winnipeg, MB  R3C 3M2

For more information visit the CRA page on the T106 information return.

Update to T3010

Form T1240 has been updated to the latest version.

Update to TaxCycle Forms module

The following forms have been updated to the latest version:

  • T2057
  • T1261

Invoicing and Client Contact column layouts for Client Manager

Two new default column layouts have been added to the Client Manager:

  1. The Invoicing Layout helps you view information about invoices sent from TaxCycle. It includes the following columns: Invoice number, Invoice status, Invoice date, Name, Reference, Invoice balance owing, Invoice paid, Payment received date, File name
  2. The Client Contact Layout display address, phone number, email and communications preferences for your clients. It includes the following columns: Name, Reference, Preferred language of correspondence, Preferred method of communication, Email address, Mobile phone number, Work phone number, Home phone number, Waiting, Preparer, File Name
  3. These changes added two more column types you can add to any of the existing layouts: Preferred language of correspondence and Preferred method of communication

New column layouts

New!—Sidebar display option

A new option allows you to set a default for the behaviour of the sidebar when opening a return. Set your preference on the Sidebar page in options:

sidebar display option

Template changes

CLetter/LettreC, JLetter/LettreJ, and DLetter/LettreD templates in TaxCycle T1:

  • A reminder was added to the principal residence paragraph to retain a signed copy of the T2091/T1255 on file in case the CRA asks for it.
  • The wording relating to loss carry-back was changed to: "This request should result in a tax refund for the year(s) to be
    reassessed." (As suggested in our online community.)
  • The wording on where to write the social insurance number on the cheque when sending in a payment to the CRA. It has been changed from "on the back" to "in the memo space on the front." (As suggested in our online community.)

New!—Template join function

You can now join field codes with a specified separator using the join( ) function. This both shortens the code and allows you to use the same code for single taxpayers and spouses because if the field is not complete for one of the field codes, the separator is not added. You can also nest joins for further effect.

A good example of this is if you need to say "Mr Sims" if the taxpayer is single, but "Mr & Mrs Sims" when the taxpayer is in a couple. Use the following code:

{{ join(" ", join(" & ",  CurrentClient.Info.ID.Title, CurrentClient.Info.SpouseID.Title), CurrentClient.Info.ID.LastName) }}

  • For a single taxpayer, you would see: Mr Sims
  • For a taxpayer with a spouse, you would see: Mr & Mrs Sims

Here are a few other examples:

Join field code example

New!—Template mask function

You can now mask the output from a field code by adding mask( ) around the field code. For example, if you want to partially hide a bank account number, social insurance number or phone number. It is not required, but we recommend using the format( ) tag as well so that you retain the format even though it is masked. A few examples:
Mask preview and result

Customer-requested fixes and enhancements

  • T1—Improvements have been made to the handling of T2091/T1255 forms created from the principal residence section of the S3. Review messages now alert you to any T2091 and T1255 forms that are not linked to the S3 so that you can delete them before filing.
  • T1—The long versions of the Family Summary (FL) and the Joint Summary (JL) now also respect the settings made on the Form availability page in T1 options.
  • T1/TP1—A new Relevé Summary for Québec slips, called RLSlips, lists all the RL in the file. It behaves similarly to the Slips summary for federal t-slips.
  • T1 Donations—A memo has been added to remind preparers to verify amounts for ecological gifts carried forward from ProFile®.
  • T1 Bankruptcy—New selections in the Type of return field on the T1 Info worksheet allow you to indicate whether the file is the Year before bankruptcy or the Year after bankruptcy. You can also filter using these selections in the Client Manager.
  • T1 Billing worksheet—A new field has been added to the Prior-year amounts section at the bottom of the worksheet that shows the Total after taxes. This is in response to a post in our online community
  • T1 Billing worksheet—We have adjusted the way TaxCycle responds to opening a return that was created before the new By Hour and By Schedule check boxes were added to the Billing worksheet. It now better takes into account the preferences set in options.
  • T2 S7 and S21—A new review message has been added to the S7 when part 1, column B on the S21 table for foreign non-business income is completed. It reminds preparers to enter the related foreign investment income on Schedule 7. Requested on our online community.
  • T2—The TaxCycle to TaxCycle carryforward now supports information on Schedule 88.
  • T3 jacket—For trusts that are Deemed residents, a review message now reminds preparers to enter the name of the other country where it might be considered resident.
  • A new bulletin reminds you to review all memos related to carrying forward from another software package. It also provides a quick way to delete all of those memos.
  • Print options—The Lock file after printing printer setting is now persisted in options.
  • An issue with indexing the Client Id in the Client Manager has been fixed. In some cases, the Client Manager was grouping files (for example, T2 and T4 files) under a client with the same business/account number, even though they had different Client Ids on the Engagement worksheet, and the option to uniquely identify a client by the Client Id was enabled. (By default, this option is enabled for all modules, except T1.)
  • A new Return Id field has been added to the Engagement forms in all modules. This field is searchable in the Client Manager and appears in search results.
    return id field

 

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