This release rolls over the T3 and T5013 modules to 2019 for early data entry. It also includes other smaller requests and fixes.
This version is available as a full download from our website and an automatic update. (To deploy auto-update files from your own network, see the Auto-update files page.)
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Rollover of T3 and T5013 modules to 2019
The new modules for TaxCycle T3 and TaxCycle T5013 allow you to begin data entry for 2019. Please note the following:
- You can carry forward T3 and T5013 files from TaxCycle. Carryfowards from other software are not yet available.
- You can use these modules to begin data entry earlier in the year.
- The government forms are the 2018 forms updated to include 2019 indexed amounts and budget changes announced or estimated based on the information we have at this time. A review message appears on the year-end date field and in a bulletin at the top of the forms to remind you of this.
- These modules permit CRA Internet File Transfer (XML).
- New! A new worksheet for calculating late-filing interest and penalties expected from the CRA and/or Revenu Québec. (Added to 2018 only.)
- The AgriStability/AgriInvest form set now inludes an Asset Summary similar to those in other income statement form sets.
- Customer Requested The industry codes 155110 (Support activities for crop production) and 115210 (Support activities for animal production) can now be used on the T2125 as well as the T2042.
- Customer Reported The calculation of the Québec parental insurance plan (QPIP) on Schedule 10 and the TP1 Schedule R was adjusted to calculate an amount when there is a small amount of self-employment income.
- New workflow tasks for tracking the filing of amended T5013 returns and slips have been added to the Rework group for 2018 and 2019 returns.
- A new column on the T5013Partner for calculating the line variances between amounts allocated on the slips and the total amount reported by the partnership has been added to the 2019 T5013 module. (A similar column will be added for the Québec RL-15 in a future release.)
- Customer Requested A new question has been added to the 2019 S1Allocation worksheet to allow the preparer to disable automatic allocation of slip variances to the last partner slip. (A similar column will be added to the Québec SF Allocation Worksheet (TPFWS) in a future release.)
- Customer Requested The Other adjustment lines in the Adjusted cost base (ACB) and At risk amount sections on the T5013Partner and RL15Partner have been changed to expandable tables so that you can enter multiple descriptions and line amounts.
- Customer Reported GIFI schedules S100, S125, S140 and S141 were adjusted to round amounts to the nearest dollar in order to conform with the CRA guide. This applies whether you import or enter values manually.
- Customer Reported Correction to the 2018 and 2019 calculation in box 6 of the RL15Partner.
- Customer Reported Correction to Internet Filing to include partner type of Registered Charity.
- Correction to calculation of line 220. This was not calculating when partnership type is Limited Liability Partnership.
- Customer Requested Carryforward of T2 files from Taxprep version 2019 2.1 is now supported.
- Customer Requested A negative number is now permitted on line 6 (Schedule B, Part 1) of the SCT1.
- Customer Reported T2 Auto-fill: When a zero value is downloaded for non-capital loss and that zero value is different from the non-capital loss carryforward opening balance in Schedule 4, TaxCycle now properly triggers a mismatch review message. A review message was also added to the Capital Dividend Account (CDA) worksheet. This addresses the issue reported on protaxcommunity.com.
- Customer Reported Page 1 of the second or subsequent copies of Alberta AgriStability forms now print.
The following forms have been updated to version 19:
- GST70 Election or Revocation of an Election to Change a GST/HST Fiscal Year.
- GST71 Notification of Accounting Periods for GST/HST.
- GST74 Election and Revocation of an Election to use the Quick Method of Accounting.
Customer Requested It is now possible to view custom templates in the Prepare sidebar and F4 Fast Find.
- T1—A new section on the delivery of the client's notice of assessment was added to the client letter (Cletter) and joint client letter (JLetter). This section changes based on the selections for the notice of assessment and online mail on the Info worksheet. This change was made to the 2018 letters.
- Customer RequestedTP1—A new section on the Québec Prescription Drug Insurance Plan was added to the client letter (Cletter) and joint client letter (JLetter). This section displays only for Québec residents, based on the premium amount calculated on the TP1 jacket, or the reporting of existing coverage on the Info worksheet. This change was made to the 2018 letters.
- Customer ReportedTP1—The QCSummary and QCJointBalance snippets were edited to correct the wording when part or all of the TP1 refund was transferred to reduce a balance owing on the spouse's return. When applicable, these snippets are automatically inserted in the T1 client letter (CLetter) and joint client letter (JLetter), respectively. This change was made to the 2017 and 2018 versions of the letter.
- Customer ReportedTP1—The TP1 instalment payment section now only shows in the client letter (CLetter) and joint client letter (JLetter) when required. This change was made to the 2017 and 2018 versions of the letter.
- Customer RequestedT3010—Updated the client letter to reference the amended form (T1240) when applicable.