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TaxCycle 15.0.58181.0—Forms Rollover to 2025 (Revised)

This release rolls over the TaxCycle Forms module to 2025.

release notes Forms module T1 T2 T3 T5013
Riyam
2025-10-14
RESOLVED: T2 S341 is Missing the 1.5% Rate for New Small Businesses

T2 S341 is missing the 1.5% tax rate for new small businesses.

known issue T2
Riyam
2025-09-16
TaxCycle 14.2.57646.0—Resolved Issues

This release resolves issues discovered since the last release.

release notes T2 T1 T3
Riyam
2025-09-03
TaxCycle 14.2.57271.0—T1 and T2 Updates, Competitor Carryforward

This release updates T1 and T2 forms to the latest versions from the CRA and updates competitor carryforward.

release notes T1 T2 carryforward CCA templates
Riyam
2025-07-29
T2: Government Announces Non-Taxability of CCR for Small Businesses

On June 30, 2025, the Minister of Finance issued draft legislation to make all Canada Carbon Rebates for Small Businesses non-taxable.

CRA T2 Canada Carbon Rebate CCR
Jocelyne
2025-07-03
TaxCycle 14.2.56967.0—2025 T1/TP1 Preview Rates and Forms

This release adds the 2025 T1/TP1 module with forms in preview mode and updated rates and calculations for 2025 personal tax returns.

release notes T1 TP1 T2 templates
Riyam
2025-07-02
RESOLVED: T2 CO-17 "Index is out of range" Carryforward Error

TaxCycle T2 version 14.2.56699.0 fails when attempting to carry forward a CO-17 return.

known issue T2
Riyam
2025-07-02
RESOLVED: T2 S322 Doubling Taxable Income for PEI

For multi-jurisdictional (MJ) corporations with a jurisdiction in Prince Edward Island (PEI), the taxable income amount on line 1A of Schedule 322 is incorrectly doubled.

known issue T2 PEI
Riyam
2025-07-02
Known Issue: T2 "Method is not Valid for MultipleSnapshot" Error

If you attempt to open or convert a .2025T2 file with an active comparative snapshot in version 14.2.56699.0, TaxCycle displays a fatal error.

known issue T2 snapshot
Riyam
2025-05-29
TaxCycle 14.2.56699.0—T2 and AT1 Certification

This certified release of TaxCycle T2 and AT1 extends the supported corporate tax year ends up to October 31, 2025.

release notes T2 AT1 templates
Riyam
2025-05-22
TaxCycle 14.1.56212.0—T1 2024 for Emigrants, Deemed Residents and Section 116 Non-residents (Revised)

This release allows for the transmission of returns for emigrants, deemed residents (section 250) and non-residents filing under section 116 from TaxCycle T1 2024.

release notes T1 TP1 T2 T2SCH63
Jocelyne
2025-04-08
RESOLVED: Fuel Charge Credit for Farmers Eliminated for 2025 (T2 Schedule 63)

The federal government made an announcement to cease the application of the federal fuel charge, effective April 1, 2025.

T2 T2 Schedule 63 T2SCH63
Riyam
2025-03-26
TaxCycle 14.1.56032.0—2025 Slip Modules

This release rolls over T4/T4A, T5, T5018, T2202 and NR4 slips to 2025.

release notes T1 TP1 T2 T3 T5013 slips
Riyam
2025-03-20
RESOLVED: Miscalculation of Alberta Provincial Portion of PPA

We are aware of an issue where TaxCycle T2 may be miscalculating Alberta's provincial portion of PPA in the S32WS when the AT1 S29 is completed.

known issue T2 AT1
Riyam
2025-02-07
TaxCycle 14.0.55570.0—Ready for Auto-fill my return (AFR)

This version enables Auto-fill my return (AFR) for 2024 T1 returns.

release notes T1 TP1 T2 AFR
Jocelyne
2025-02-06
Deferral in Implementation of Change to Capital Gains Inclusion Rate (Updated)

We are awaiting guidance from the CRA on existing draft or published forms.

T1 T2 T3 capital gains inclusion rate
Elizabeth
2025-01-31
RESOLVED: CDA Miscalculation Due to Capital Gains Reserve Balances

TaxCycle T2 is miscalculating the CDA when the capital gains reserve closing balance is greater than the capital gains reserve opening balance.

known issue T2
Riyam
2025-01-29
TaxCycle 14.0.55440.0—CO-17 Forms

This release extends the filing of Québec CO-17 returns with updated forms for 2024 and 2025.

release notes CO-17 T2 CCA T2 Schedule 63
Riyam
2025-01-29
RESOLVED: T2 Schedule 63 Payment Rates for 2024

As of today's date, the Minister of Finance has not announced the 2024 payment rates for T2 Schedule 63, Return of Fuel Charge Proceeds to Farmers Tax Credit.

T2 T2 Schedule 63 T2SCH63
Riyam
2025-01-16
TaxCycle 14.0.55258.0—2024 Slips Filing

This TaxCycle release is ready for filing 2024 slips when systems open on January 13, 2025.

release notes slips T2
Riyam
2025-01-09
TaxCycle 14.0.55231.0—Revisions Made to T2 Schedule 6

This TaxCycle release removes lines previously added to the T2 Schedule 6.

release notes T2
Riyam
2025-01-06
RESOLVED: Incorrect Amounts in Part 2A and Part 2B Tables of the T2 S89

TaxCycle is showing zeros instead of negative amounts in the Part 2A and 2B tables of the S89.

known issue T2
Riyam
2025-01-03
RESOLVED: Immediate Expensing of CCA No Longer Prorates (T2 Schedule 8)

The proration rule for CCPCs with short taxation years no longer applies to the calculation of immediate expensing of CCA for taxation years ending on or after April 19, 2021.

known issue T2 CCA S8
Riyam
2024-12-20
RESOLVED: T2 S89 Part 2B Table Not Including Adjustment Amounts

TaxCycle T2 is not including the adjustment amounts under ITA Paragraph 89(1.3)(a) and (b) in the Part 2B table of the S89.

known issue T2
Riyam
2024-12-19
TaxCycle 14.0.55100.0—Major T2/AT1 Update, Capital Gains Inclusion Rate Increase (Retracted)

***To conform with the CRA's expectations for the draft T2 Schedule 6, we have retracted the full installer for TaxCycle version 14.0.55100.0.*** This release extends the tax year ends for T2 and AT1 returns up to May 31, 2025.

release notes T2 AT1 capital gains inclusion rate
Riyam
2024-12-11
RESOLVED: Non-Capital Loss Not Being Claimed in AT1 Schedule 21, Line 041

The latest version of TaxCycle is not automatically applying the non-capital loss against Alberta income on line 041 of the AS21 when there is an unused AT1 non-capital loss carryforward.

known issue T2 AT1
Riyam
2024-12-09
RESOLVED: Error Calculating Line 002 in T2 Schedule 7

The calculation on line 002 in column A of T2 Schedule 7 does not properly account for the capital gains reserve entered in Part 8 of Schedule 6.

known issue T2
Riyam
2024-12-06
RESOLVED: T2 AFR Error

Attempts to request data using AFR for T2 returns are resulting in error 026.

known issue T2 AFR
Riyam
2024-10-21
RESOLVED: T2 CCA for Productivity-Enhancing Assets

Additions in CCA classes 44, 46 and 50 acquired after April 15, 2024, are resulting in 100% of CCA being claimed.

known issue T2
Riyam
2024-10-07
RESOLVED: T1 and T2 EFILE and AFR Errors

Attempts to EFILE or request data using AFR for T1 or T2 returns are failing.

known issue EFILE AFR T1 T2
Jocelyne
2024-09-26