TaxCycle T2

Corporate T2 Tax Preparation

TaxCycle T2 - All that's great at TaxCycle, for your corporate clients too!TaxCycle T2 comes with unlimited T2 returns, unlimited electronic filing (T2 Corporation Internet Filing and AT1 Net File), and it's packed with hundreds of delightful innovations.

 

Future proof your T2

When the latest budget comes out, you can incorporate tax rate and small business deduction limit changes into TaxCycle without manually overriding calculations and fields. 

For example, if the federal small business deduction limit is reduced to $450,000, you can enter the effective date and the new small business deduction limit in the TaxConstants worksheet. TaxCycle automatically updates the tax calculations affected by the change. 

When the next version of TaxCycle T2 comes out after the budget changes, it then automatically switches to the new rates.

Electronic-filing-first workflow

TaxCycle T2 gives you a constant view of transmission-readiness as you prepare returns for internet filing. Corporation Internet Filing (CIF) and AT1 Net File are integrated into the TaxCycle T2 workflow, speeding preparation, increasing accuracy and streamlining government electronic submission. Both the CIF and AT1 worksheets include a full history of all electronic transmission attempts, responses and messages.

Reliable support from tax analysts and developers

Your support requests are answered in Canada by the tax analysts and developers who build our software. This means timely updates and enhancements you recognize.

I KNOW I made the right choice switching to TaxCycle. Your customer support is WOW! And you can quote me on that.

Helga Spence, RPA
Helga's TAX & BOOKKEEPING Service Inc.

Re-energizing corporate tax processing

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Let's get GIFI with it

Import GIFI from popular accounting and working papers software. Or, find the right GIFI code faster by just typing keywords. Then, automatically complete the T2 return from GIFI schedules.

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Be ready on budget day

When a new budget comes out, show your clients the impact using the TaxConstants worksheet. Incorporate effective dates and tax rate changes without waiting for a software update.

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Flexible data entry for associated/related corporations

Enter associated/related corporation data on the Corporate Group Information (CGI) worksheet. Or, use the S9 or S23 and the data flows back to the CGI worksheet.

Client communication templates, t2 tax software, corporate tax software

Client communication templates and word processor

Flexible templates for client letters, notices, etc. are easy to edit using our built-in word processor. And, they're quick to email to your clients too!

Familiar Corporate Group Information (CGI) worksheet, t2 tax software, corporate tax software

Familiar Corporate Group Information (CGI) worksheet

Familiar sections on the CGI worksheet resemble the S9 or S23, allowing you to allocate the small business deduction limit from a single table without jumping to each corporation record.

Client Manager, t2 tax software, corporate tax software

Client Manager keeps corporate client files together

TaxCycle's Client Manager database finds, opens and keeps track of your prior-year ProFile® and Cantax® returns. It's easy to carry forward, or go back and check on old returns.

Schedule 5, t2 tax software, corporate tax software

Schedule 5 only shows the specified jurisdictions

Depending on which provincial jurisdiction you select in a TaxCycle T2 return, Schedule 5 dynamically adjusts, showing only those jurisdictions you need. Finally!

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Easy carry forward - ProFile®, Taxprep®, VisualTax® and Cantax®

Carry forward from Intuit ProFile®, Taxprep®, VisualTax® and Cantax® T2 returns files.

Forms and features

RETURNS
Number of returns Unlimited
Corporate tax years starting January 1, 2011
CARRY FORWARD
TaxCycle T2 Yes 
ProFile® T2 returns Yes
Cantax® T2 returns Yes
Taxprep® T2 returns Yes
VisualTax™ T2 returns Yes
ELECTRONIC FILING
CRA Corporation Internet Filing, including for amended returns Yes
AT1 Net File, including S12 through S21 Yes
TIME-SAVING FEATURES
F4 Fast Find Yes
Ctrl+Tab Fast Switch Yes
Auto-complete Yes
FILE/CLIENT DATABASE
File/return status settings Yes
Client Manager  Yes
SUPPORT
Satisfaction guarantee Yes
Automatic updates Yes
Free technical support via email and telephone Yes
Free online community Yes
OFFICE/PRACTICE MANAGEMENT
Network-sharable print options Yes
Sharable templates Yes
REVIEW AND ACCURACY TOOLS
Active review messages Yes
QuickFix solutions Yes
Review messages configuration (show/hide) Yes
Memos, tapes and review marks Yes
Snapshot variance Yes
PRINTING
Print multiple sets at once Yes
Print to PDF, including password and edit protecting returns Yes
TEMPLATES AND CLIENT CORRESPONDENCE
Client correspondence and templates Yes
Client letter Yes
Engagement letter Yes 
Email any template to client Yes
Send documents securely with e-courier.ca Yes
Template Editor Included in suites, bundles and combos. Also available separately.
WORKSHEETS
CGI - Corporate group information Yes
Capital Dividend Account (CDA) - current and prior year Yes 
Engagement - Client engagement information Yes
Info - Corporate information Yes
Instalments - Instalment payments (federal and provincial) Yes
Motor vehicle worksheet Yes 
Optimizations worksheet Yes 
PaymentDueDate - Payment due date worksheet Yes
Rental worksheet  Yes
Summary of rental income  Yes
S1InducementRefundWS - Inducement refund worksheet  Yes
S2WS - Donations worksheet Yes
S4Loss - Loss continuity worksheet Yes
S4LossCB - Loss carryback worksheet Yes
S6M - Capital property disposition manager Yes
S8Asset - Asset manager Yes
S8Claim - Capital cost allowance (CCA) claim Yes
S8RecWS - Reconciliation Yes
S10WS - Cumulative eligible capital worksheet Yes
S31WS - Qualifying corporation worksheet Yes
S32PPACapWS - Overall cap on prescribed proxy amount  Yes
S32WS - Government assistance worksheet Yes
S53WS - General rate income pool (GRIP) adjustment worksheet Yes
S54WS - Low rate income pool (LRIP) adjustment worksheet Yes
TaxConstants - Tax constants worksheet Yes
T2CIFWS - Corporation Internet Filing Yes
Tax payments made worksheet Yes
GIFI
GIFI import from Accounting for Practitioners (AFP), CaseWare®, QuickBooks®, CCH Engagement, Sage®, CSV files Yes
S100 - Balance Sheet Information Yes
S101 - Opening Balance Sheet Information Yes
S125 - Income Statement Information Yes
S140 - Summary Statement Yes
S141 - Notes Checklist Yes
Notes to financial statements Yes 
FEDERAL JACKET AND SCHEDULES
T2 Jacket Yes
T2ADJ - Adjustment notes Yes
Schedule 001 – Net Income (Loss) for Income Tax Purposes Yes
Schedule 002 – Charitable Donations and Gifts Yes
Schedule 003 – Dividends Received, Taxable Dividends Paid, and Part IV Tax Calculation Yes
Schedule 004 – Corporation Loss Continuity and Application Yes
Schedule 005 – Tax Calculation Supplementary – Corporations Yes
Schedule 006 – Summary of Dispositions of Capital Property Yes
Schedule 007 – Calculation of Aggregate Investment Income and Active Business Income Yes
Schedule 008 – Capital Cost Allowance (CCA) Yes
Schedule 009 – Related and Associated Corporations Yes
Schedule 010 – Cumulative Eligible Capital Deduction Yes
Schedule 011 – Transaction with Shareholders, Officers, or Employees Yes
Schedule 012 – Resource-related deductions Yes
Schedule 013 – Continuity of reserves   Yes
Schedule 014 – Miscellaneous Payments to Residents Yes
Schedule 015 – Deferred Income Plans  Yes
Schedule 016 – Patronage dividend deduction Yes 
Schedule 017 – Credit union deductions Yes
Schedule 019 – Non-Resident Shareholder Information Yes
Schedule 020 – Part XIV - Additional Tax on Non-Resident Corporations Yes 
Schedule 021 – Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit Yes
Schedule 022 – Non-resident discretionary trust Yes
Schedule 023 – Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Business Limit Yes
Schedule 024 – First-time Filer after Incorporation, Amalgamation or Winding-up of a Subsidiary into a Parent Yes
Schedule 025 – Investment in foreign affiliates Yes 
Schedule 027 – Calculation of the Canadian manufacturing and processing profits reduction Yes 
Schedule 028 – Election not to be an Associated Corporation Yes
Schedule 030 (T1263) – Third-party payments for SR&ED Yes 
Schedule 031 (and S31 worksheet) – Investment tax credit  Yes
Schedule 032 – SR&ED expenditures claim  Yes
Schedule 033 – Taxable Capital Employed in Canada – Large Corporations Yes
Schedule 037 – Calculation of Unused Surtax Credit Yes
Schedule 044 - Non-arm's length transactions  Yes
Schedule 047 - Canadian film or video production tax credit  Yes
Schedule 048 - Film or video production services tax credit Yes 
Schedule 049 - Agreement amount associate CCPCs to allocate the expenditure limit  Yes
Schedule 050 – Shareholder Information Yes
Schedule 053 – General Rate Income Pool (GRIP) Calculation Yes
Schedule 054 – Low Rate Income Pool (LRIP) Calculation Yes
Schedule 055 – Part III.1 Tax on Excessive Eligible Dividend Designations Yes
Schedule 060 (T661 Part 2) - SR&ED expenditures claim Yes 
Schedule 061 (T1145) – Agreement to allocate assistance for SR&ED between persons not dealing at arm's length  Yes
Schedule 062 (T1146) – Agreement to transfer qualified expenditures incurred in respect of SR&ED between persons not dealing at arm's length Yes 
Schedule 071 – Income inclusion for corporations that are members of single-tier partnerships Yes 
Schedule 073 – Income inclusion summary for corporations that are members of partnerships Yes 
Schedule 088 – Internet business activities Yes
Schedule 091 –  Information Concerning Claims for Treaty-Based Exemptions Yes 
Schedule 097 – Additional Information On Non-Resident Corporations in Canada  Yes 
T2 corporate internet filing terms and conditions Yes
T2 online mail terms of use Yes
PROVINCIAL RETURNS, SCHEDULES AND WORKSHEETS
Alberta AT1: AT1, AT1RSI, AS1, AS2, AS4, AS8, AS9, AS9Step, AS9Project, AS9Supplemental, AS10, AS12, AS13, AS14, AS15, AS16, AS17, AS18, AS20, AS21, AS20WS, AS21WS, AlbertaInstalments, AS21Loss continuity worksheet Yes
British Columbia: S421, S422, S423, S425, S427, S428, S429 Yes
Manitoba: S380, S381, S383, S384, S385, S388, S389 Yes
New Brunswick: S360, S365, S366 Yes
Newfoundland and Labrador: S301, S302, S307, S308, S309 Yes
Northwest Territories: S461  Yes
Nova Scotia: S340, S341, S345, S346, S347, S348 Yes
Nunavut: S481, S490 Yes
Ontario: S500, S502, S504, S506, S508, S508WS, S510, S511, S524, S525, S546/547, S548, S550, S552, S554, S556, S558, S560, S562, S564, S566, S568, S569 Yes
Prince Edward Island: S322 Yes
Quebec CO-17 Coming Soon
Saskatchewan: S402, S403, S410, S411 Yes
Yukon: S442, S443 Yes
SUMMARIES
1-year summary Yes
5-year Schedule 1 summary Yes 
5-year Comparative  Yes
FILING AND AUTHORIZATION
T1135 - Foreign Income Verification Statement Yes
T183Corp - Information Return for Corporations Filing Electronically Yes
RC59 - Business consent form Yes
AT4930  - Alberta consent form Yes 

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