This TaxCycle release enhances
the data monitor, adds prior-year variance when carrying forward returns, and
new fields for T1 instalments paid. We’ve also fixed a
few stability issues since our last release. The complete list of highlights of this version appears
This version is available as an automatic update, full download from our website and a free trial. (To deploy auto-update files from your own network, see the Auto-update files page.)
Who should install this release?
On August 2, we released version 7.2.33615.0 with all the enhancements listed below. The following day, we released an update (version 7.2.33629.0) to resolve issues affecting T2 Auto-fill and some custom data monitors. Today, we are releasing version 7.2.33638.0 to resolve an issue related to the family summary. We recommend you install this update if you installed these previous versions.
- Prior-year variance
- Data monitor changes
- T1 instalments paid and refund applied
- TP-1026 instalments worksheet added
- TaxCycle T2 changes
- Change to extension registration
- Options changes
- Template changes
- T1 enhancements for 2018
- Resolved: Known issue affecting T2 Auto-fill data download
- Resolved: Known issue with some custom data monitors causing a crash
- Resolved: Known issue related to the family summary
When you carry forward returns with this and any future release, TaxCycle automatically creates a full snapshot. This is used to display prior-year variance in the data monitors and elsewhere. You can select this snapshot at any time to see variance review messages.
- Go to the Tools menu.
- Click on Show Variance.
- Choose the Prior year snapshot.
To learn more, read the Snapshots and variance help topic.
Data monitor changes
This release makes the following changes to data monitors:
- To access these enhancements, right-click on a monitor cell and select Edit data monitor.
- You can no longer right-click on a Data Monitor to make a cell show the field code of the current field. Instead, select Field code.
- A new option shows the equivalent value from the same field on the Spouse's return. In the Edit data monitor dialog box, select Spouse value.
- A new option shows the value that appeared in the same field in the prior year. This only works if you carried forward the return with this and future releases. In the Edit data monitor dialog box, select Prior year value.
- The Data monitor expression editor now includes basic syntax checking to validate the content. For example, it checks to see if the colour entered is one of the supported colours.
To learn more about data monitors, read the Working with data monitors help topic.
T1 instalments paid and refund applied
- The 2018 federal Instalments worksheet includes new columns to enter instalments paid and refund applied.
- To apply any 2018 T1 refund to the 2019 instalments on the worksheet, answer Yes to question 488 on the EFILE worksheet.
TP-1026 instalments worksheet added
- The TP1026 instalment worksheet has been added to the 2017 and 2018 modules. This worksheet is similar to the T1 Instalments worksheet.
- To support the TP1026, new default options have been added to the T1/TP1 New File options:
TaxCycle T2 changes
- Preview of the Saskatchewan Capital Tax Return (SCT1) has been added to the latest module of TaxCycle T2/CO-17. It has a draft watermark and is not ready to be used for filing.
- Schedule 23 and S28 have been updated to reflect the 2016 budget with respect to a third corporation election under 256(2)(b)(ii).
- A new CO-17 instalment Worksheet has been added (CO1027). Similar to the TP1026, above, the T2 New File options also include settings to default the instalment calculations.
Change to extension registration
As of this release, it is no longer possible to enable or disable modules and extensions from the Help screen in TaxCycle. The Enable and Disable buttons have been removed from the Modules and Extensions page. If the DLL is present in the Extensions subfolder in the TaxCycle program folder (a folder that is only accessible with Administrator privileges), the extension is enabled by default.
- The EFILE Credentials page in options has been renamed to EFILE Accounts.
- The Slips Credentials page in options has been renamed to Slips Accounts.
- The Column Layouts page in options has been renamed to Columns.
- The condition around the donations paragraph in the 2017 and 2018 T1 client and joint client letters (English and French) has been updated to include the splitting of cultural and ecological gifts and ecologically sensitive land carryforward lines on the Carry worksheet.
- The donations paragraphs in the 2016 through 2018 T1 client and joint client letters (English and French) now include a sentence for the carryforward of donations on the Québec TP1 returns.
- The conditions for displaying the forms T1256 and T1256-2 in the list of forms to sign have been updated in the 2017 and 2018 T1 client and joint client letters (English and French).
- New sections have been added to the 2018 T1 client and joint client letters (English and French) to list the Québec instalment payments required for the coming year.
T1 enhancements for 2018
- RRSP contributions worksheet – In the Home Buyers Plan (HBP) and Lifelong Learning Plan (LLP) sections, we have added a line to allow you to enter a different amount to repay for cases where your client wishes to pay more than the minimum repayment. Previously this required performing an override on the designated repayment field.
- T5008 slip
- Added box 14, Transaction date.
Box 21, Proceeds of disposition, now accepts a negative entry. The negative amount is automatically converted to a positive amount and included in the adjusted cost base column on Schedule 3 as CRA does not accept a negative at line 131 (Proceeds of disposition).
We added a new field “Exchange rate for cost” which, when entered, will be used to convert the amount in box 20, cost or book value, instead of the existing exchange rate field.
Resolved known issue affecting T2 Auto-fill has now been resolved
T2 Auto-fill was broken and displayed an error dialog at the end of the data download process. That data would successfully import but displayed an error message. This issue has been resolved.
Resolved known issue with some custom data monitors
We resolved an issue with some custom data monitors that were causing a crash. These custom data monitors now work correctly.
Resolved known issue related to the family summary
In a coupled return, the family summary crashed if you accessed it from the spouse's return. This is no longer an issue.