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News > TaxCycle version 8.0.34404.0—2018 T1/TP1 forms and calculations. T5013 CRA approval. Québec TP-985.22 charity return. CO-17 update.

TaxCycle version 8.0.34404.0—2018 T1/TP1 forms and calculations. T5013 CRA approval. Québec TP-985.22 charity return. CO-17 update.


This major TaxCycle release contains preview calculations and forms for 2018 T1 and TP1 personal tax returns. It also adds CRA-approved T5013 slips for 2018, the new Québec TP-985.22 charity return, an update to Québec CO-17 and more new features.

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.)

Ces notes de version sont également disponibles en français.

Release highlights

  • PreviewT1/TP1 forms and calculations for 2018
  • TaxCycle T5013 2018 approved for paper and electronic filing in the new year
  • T2 updates
  • Updated Québec CO-17 forms
  • New! Québec TP-985.22 Information Return for Registered Charities and Other Donees
  • New look for icons and menus
  • New! Custom Fields
  • New! Right-click to copy a field code
  • Template changes
  • Updated TaxCycle license agreement
  • Customer requests

Did you install version 8.0.34400.0?

We released version 8.0.34400.0 on Thursday, December 20, 2018. It contained all the changes detailed in these release notes. If you installed that release, via full download or automatic update, we recommend updating to the latest version 8.0.34404.0, as it will resolve the following issues:

  • A crash that occurred when opening 2018 T1 coupled returns that contain shared AgriStability forms. This was related to 5-year summaries for AgriStability forms (T1163/T1164/T1273/T1274) and was reported when carrying forward coupled TaxCycle T1 2017 returns.
  • An invalid character error received from AB Finance when an amended AT1 return is Net Filed.
  • The T1134Sup now displays a review message if the tax year of the foreign affiliate in section 3 is more than 378 days to prevent transmission of the T1134 to the CRA from failing.
  • Schedule 510 part 3 now correctly calculates when the total revenue of the corporation and its associated corporation is equal to or more than $100,000,000 (as determined in Part 1 of the form).
  • The carryforward from ProFile T1, T2, T3 and T5013 now includes CCA classes 1.1, 14.1, 41.1, 41.2, 47.1, if applicable.

Preview—T1/TP1 forms and calculations for 2018

This release updates the T1 federal and provincial schedules, as well as many other forms, to the latest versions available from the Canada Revenue Agency (CRA).

This release also updates the TP1 jacket and all schedules based on 2018 Revenu Québec specifications.

All forms, other than authorization forms, remain in a Preview state and will show a watermark. The Preview watermark will be removed once we receive final forms from the CRA and Revenu Québec, and complete our carryforward and calculation testing. We will likely start removing the watermarks in mid-January.

Please update to this release to try the latest forms and calculation changes to T1 and TP1. You can begin data entry, but must await CRA and Revenu Québec certification before filing. We also strongly recommend waiting to perform any batch carryforward for files to 2018 until those changes are complete.

Schedule 14 changes

Schedule 14 has been changed to address the provinces who have not implemented a price on carbon.

  1. These changes affect Saskatchewan, Manitoba, Ontario and New Brunswick. Certain text and amounts will change based on province of residence.
  2. New fields have been added to the Credits section on the Info worksheet to help determine eligibility for the credit.
  3. A new table has been added to Schedule 14 to help determine qualified dependants. This table appears on-screen only.
  4. For married/common-law returns, a question was added to the Optimizations worksheet to help determine who will claim the credit.
  5. A new review message appears on line 7 of Schedule 14 for married/common-law returns that are uncoupled to ensure the credit is only claimed once.

2018-s14-qualified-dependant

Other major T1 form changes

  • Schedules 4 and 12 have been changed to worksheets by CRA. We renamed them and have added them to the Worksheets category.
  • The Home Accessibility Expenses worksheet (Accessibility) is little changed from the former Schedule 12.
  • The Investment Income and Carrying Charges worksheet (Investment) is very similar to the former Schedule 4, except that we moved the table for line 122, Net partnership income, from StatementSum to this new worksheet, and now allow a direct entry into the table (not previously permitted on the StatementSum).
  • Manitoba forms T1005 and T4164 have been deleted as the credits were discontinued by the MB 2017 budget so no longer apply for 2018.
  • Customer Request! The T1Planner workhseet in the 2017 module now contains a section on Alternative Minimum Tax (AMT).

TaxCycle T5013 2018 approved for paper and electronic filing in the new year

The 2018 versions of the T5013 jacket, schedules and slips are approved by the CRA for paper and electronic filing upon the opening of 2018 CRA slips filing in January 2019.

While TaxCycle T5013 2018 has received approval from the CRA for electronic filing, transmission of the T5013 FIN and slips is disabled in this release because it is not compatible with the 2017 CRA slips filing system. It will be re-enabled in January 2019 in time for the opening of the 2018 CRA slips filing system.

  • The S1WS now includes net income reconciliation for taxable income allocated to partners. (This will be added to the RL15 Partner worksheet in a coming release.)
  • You can now add footnotes to the partner copy of the T5013 slip by way of a new field on the T5013Partner worksheet.
  • For limited partners with an exempt interest as defined in subsection 96(2.5), a fix was made to the allocation of losses without the application of the At Risk Amount limitation..
  • S10 Calculations Relating to Cumulative Eligible Capital is removed for 2018.
  • Note that new fields have been added to the Info and Engagement worksheets in anticipation of the Québec TP-600 forms and calculations coming in the new year.

New! Québec TP-985.22 Information Return for Registered Charities and Other Donees

This release adds the 2018 versions of the Québec TP-985.22 Information Return for Registered Charities and Other Donees to TaxCycle T3010. Here's what you need to know:

  1. The TP-985.22 form set includes: TP-985.22 jacket; schedules A, B, C and D.
  2. To activate the TP985.22 forms, indicate that the TP-985.22 is required by answering the question in Info worksheet that appears just under the fiscal period fields.
  3. As much as possible, the TP-985.22 is completed and calculated based on information entered on the federal T3010 forms. Complete any remaining fields directly on the TP-985.22 jacket and schedules.
  4. The TP-985.22 jacket and schedules are authorized by Revenu Québec. You can file TP-985.22 returns created with this version of TaxCycle.

2018-tp-985-22-forms


T2 updates

  • The S17 was updated to the CRA’s final version that became available on Dec 6, 2018.
  • The Percentage of voting shares held column on the QC50 will now calculate from S50 when a shareholder has been selected in the shareholder column.
  • Fix—When Class 13 is linked to a rental property, the class now correctly links to the CCA table in the T2 Rental Worksheet.
  • Customer Request—The paragraphs in the T2 client letters for the .2017T2 and .2018T2 modules have been modified to address the new RC59 and RC59X electronic filing released earlier this year. Letters in the prior modules continue to have the same content. This affects the following templates in T2 2017 and T2 2018: CLetter
  • Customer Request—A new optional review message was added to remind you when the T2 instalment worksheet is set to a quarterly remittance frequency. You can enable this messages in T2 Review options (learn how in the Review options help topic). Thanks @rick.s for the suggestion on protaxcommunity.com.
  • Fix—Page 2 of the Alberta AgriStability form now prints.
  • Fix—TaxCycle no longer triggers review messages on the Alberta AgriStability form for questions about the production cycle and number of years farmed which do not appear on this form.
  • Fix—Schedule 404 (SK manufacturing processing and profits tax reduction) lines B and E now do not calculate when Schedule 411 amount E is zero.

Updated Québec CO-17 forms

The following forms have been updated in this release. (Changes are minor unless more detail provided.)

  • COR-17.W
  • COR-17.X
  • COR-17.Y
  • COR-17.Z
  • CO-1029.8.33.6

Info worksheet

Three new questions now appear on the Québec - CO-17 section to accommodate the new lines 28a, 28b and 31 on the CO-17 jacket:

  • Did the corporation receive, for services it rendered in Québec or for the disposition of taxable Québec property, a payment from which income tax was withheld?
  • If you checked Yes, enter the amount of the income tax withheld at source.
  • Is the corporation exempt from income tax under section 984, 985, 991, 995, 996 or 998 of the Taxation Act?

CO-17 jacket

  • New questions 28a, 28b, 31 added.
  • New codes (codes 104, 105 and 106) added to lines 440pi to 440yi. These new codes were also added to the CO17Refundable worksheet.
  • New codes (codes 92, 93 and 94) added to lines 425a to 425b; These new codes were also added to the CO17SpecialTax worksheet.
  • The 2019 Québec annual registration fees are now available (see the Fees and Terms of Payments document released by Revenu Québec); however, these rates will not be updated in TaxCycle until a release in January 2019. If you wish to prepare a CO-17 return with a 2019 tax year now, please update the TaxConstants worksheet with the following rates:

2018-co-17-taxconstants-registration-fees

CO-771

Added the new section 12 to calculate the Small Business Deduction rate for a corporation with a tax year that includes March 27 and 28, 2018.

CO-1029.8.33.13

Added the new section 2.10 to calculate Employer contributions to the Health Services Fund (HSF) for the 2018 calendar year.

CO-1136

Removed codes 01, 02, 05, 06, 07 from lines 393 and 394

New! CO-1136DeductionsWS

This new worksheet calculates a deduction for a manufacturing corporation (code 08) for the purposes of CO-1136 lines 393 and 394.

MR-69

Various changes made, including the new 2D bar codes required by Revenu Québec.

CO-786

Added the TaxCycle, ProFile® and Taxprep® carryforward from line 44 to line 25.

COZ-1027.P

The form remains the same; however, it has been re-certified, as required by Revenu Québec.

Preview! CO502CurrentYearWS and CO502NextYearWS

This release adds a preview of the CO502CurrentYearWS and the CO502NextYearWS worksheets. Similar to the federal T2054 worksheets, use these forms to enter and calculate the current and next year capital dividend account balances for the CO-17 return. Please do not use these worksheets until the form is certified by Revenu Québec and the Preview watermark has been removed in a future release.

CO1027InstalmentPaymentSchedule worksheet

  • New Payment code section added.
  • When paying next year’s instalments at a financial institution, the taxpayer can use the payment code generated in this worksheet.
  • The client letter (CLetter) has been revised to include instalment payment schedule table as well as the instalment payment code discussed above.

2018-co1027instalment-payment-code


New look for icons and menus

This release updates the icons and the look of the ribbon menu tabs everywhere in TaxCycle:

2018-new-icons


New! Custom Fields

You can now add custom fields to TaxCycle returns to collect data to use in templates and the data monitors. For complete instructions on using these fields, read the Custom Fields help topic.

  1. Tax return files now contain a CustomFields worksheet where you can set up fields for that particular file.
  2. You can set defaults for this worksheet in module options.
  3. There are four possible field types: Yes/No, Text, Date, Money.
  4. You can choose to carry forward the data from these fields from one year to the next.
  5. Optionally trigger review messages when a field is required, or when it does or does not match the default set in options.
  6. Use these fields in templates.

Cameron presented the basics of using custom fields in templates in a recent webinar. Watch the recording on YouTube starting at 9m29s using this link: https://youtu.be/Oh1C9gz44CY?t=572

2018-custom-fields-worksheet


New! Right-click to copy a field code

In response to feedback during our recent Template Editor webinars, you can now right-click on a field to copy its field code. There are two options:

  1. Copy field code puts the code on your clipboard without brackets. For example: CurrentClient.Engage.Preparer.ClientID. Use this in the Data Monitor, as well as in print set and template conditions.
  2. Copy field code with {{curly brackets}} puts the code on your clipboard with the curly brackets. For example: {{CurrentClient.Engage.Preparer.OfficeID}}. Use this format in Templates.

2018-right-click-copy-field-code636808346631937638


Template changes

This release contains the following changes to the TaxCycle templates.

New! Added salutation snippets—T1 2018

This release adds new Salutation snippets to the 2018 T1 built in templates. These templates allow you to customize the way a letter is addressed and the salutation to the recipient without cloning and customizing a built in letter. For example, to edit the salutation of all letters for single taxpayers, you would edit the CSalutation snippet. This content then flows to the CLetter, ELetter, PreSeason and PostSeason letters:

2018-csalutation-snippet

The following table shows the names of the new snippets:

Snippet Purpose Inserted in...
CSalutation Single taxpayer CLetter, ELetter, PreSeason, PostSeason
DSalutation Representative of the estate of a deceased taxpayer DLetter, DELetter
FSalutation Families FPreSeason, FPostSeason
JSalutation Couples JLetter, JPreSeason, JPostSeason

Customer Request—Modify filing and payment dates for late-filed returns (T1 2018)

Based on feedback from a TaxCycle user, we have adjusted the relevant sections in the T1 2018 client letters to change if the return is late. For example, late returns that have not yet been filed, but are eligible for electronic filing will show the following text:

Your return is late. It was due on {{ format(Info.CommonData.FileByDate, "January 2, 2003") }} and must be filed immediately. If you have a balance owing, your return will be subject to penalties and interest for late filing.

Similar changes were made to the segments in the letters that address returns filed on paper, and payments owing. Please review these segments in the following templates: CLetter, JLetter, DLetter, QCJointBalance, QCJointFiling and QCSummary.

Customer Suggestion—Add CRA My Payment and Canada Post payment options to the letter (T1 2018)

Based on a suggestion from a TaxCycle user, have added the CRA My Payment and Canada Post as possible payments options listed in the Client Letter. This affects the following templates in T1 2018: CLetter, DLetter, JLetter

Customer Suggestion—Add the TP-348 moving expenses claim to the client letter (T1 2018)

Based on a suggestion from a TaxCycle user, have added the details of the Québec moving expenses claim from the TP-348 to the Client Letter. This affects the following templates in T1 2018: CLetter, JLetter

Customer Reported—Fix typos in French letters

  • In the T2 LettreM (French T2 engagement letter), the typo mèincombent was changed to m'incombent.
  • In the 2017 and 2017 LettreC (French T1 client letters), the typo Impôt minimum de remplacemente was changed to Impôt minimum de remplacement.

Updated TaxCycle license agreement

We have updated the TaxCycle license agreement. Please take the time to review and read it as you install your new software. You can also review a copy on our website here: TaxCycle License Agreement.


Customer requests

  • New! Right-click on a form tab and choose to close all forms other than the visible form.
  • New! Right-click on a form and choose a section heading from the menu to jump to that part of the form.
  • The DoxCycle buttons have been added back to the Home menu, as well as on the DoxCycle menu.
  • New! TP1 5-year summary
  • New! TP1 2-year comparative summary. You can calculate the variance using either dollar amounts or percentage.
  • New! In the Tools menu, a new button offers bookmarks to the Revenu Québec website and Mon Dossier pages.
  • An As-Filed snapshot is now automatically created when transmitting a TP1 return to Revenu Québec.
  • Line items on the T1 billing worksheet now appear in the taxpayer's language of correspondence.
  • The prior-year watermark now displays when using a brown form background.
  • The green and red colour schemes for displaying in the refund/balance owing in the default data monitors are now consistent across all modules.
  • The Alternative Minimum Tax (AMT) is now factored into the T1 five-year summary for 2016 and prior.
  • The Start screen now references fewer years rather than less years.
  • Fix! The Client Manager no longer, in certain circumstances, loses a client's email address and/or phone number when an older return was saved without an email address or phone number entered.
  • New! A new Friends or family member workflow task has been added to the T1 workflow for years 2016 and onward. It is disabled by default. Enabling it and using it allows you to exclude friends and family returns from reports in the Client Manager. To learn how to enable workflow tasks, see the Workflow groups and tasks help topic.
    2018-workflow-friends-and-family

 

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