The CRA has released a new form for self-identifying as an employer claiming the wage subsidy, the PD27. We will include this form in TaxCycle T4 in an upcoming release.CRA COVID-19
In TaxCycle T2, on the Alberta AT1 Schedule 1, the small business deduction rate should be 0.06 effective July 1, 2020.known issue
Transmission of forms T106, T1134 and T1135 from the latest TaxCycle T2 modules returns the error code 400.known issue
In versions 9.2.39507 and 9.2.39565, TaxCycle T2 does not claim a net capital loss carryforward on line 332 of the T2 return when there is a taxable capital gain in the current tax year.known issue
Line 8120 from Schedule 8 in TaxCycle T3 is not transmitted to the Canada Revenue Agency (CRA) when there are no amounts on lines 8110, 8160, 8170, 8180 or 8190.known issue t3
The Canada Revenue Agency (CRA) has investigated EFILE error 92271 and has determined a change made in early May cause certain returns that were previously accepted to now be rejected.
The CRA, RQ and the Govt of Alberta have extended some filing deadlines for corporations and trusts to September 1, 2020.CRA COVID-19
Enhanced slips summaries. Guaranteed income supplement (GIS) worksheet. NetFile of adjusted TP1 returns.release notes
We've launched a new design for our website at www.taxcycle.com. We hope you like it!
As of April 20, 2020 the Canada Revenu Agency (CRA) will allow the transmission of a return even if it has already been mailed to CRA on paper, as long as it has not yet been processed.
Our friends at Video Tax News have published a useful list of links to COVID-19 resources and updates specifically for accounting professionals.
Randy Tebbutt 1964 – 2020. It is with great sadness we share with you that one of our own passed suddenly this week.
The Canada Revenue Agency will defer the filing due date for the 2019 tax returns of individuals, including certain trusts.
This release adds updates T1 and TP1 payment and filing due date extensions.release notes