RESOLVED: T5013-FIN with new assets in 2019 rejected

It is currently not possible to electronically file T5013-FIN returns with 2019 tax year-ends through TaxCycle, where the Accelerated Investment Incentive (AII) for CCA is calculated. If you attempt to file the T5013-FIN for a partnership that has acquired new assets in 2019, the return will be rejected. Transmission of the T5013 slip summary is not affected.

The issue is due to the XML schema in TaxCycle not matching the schema expected by the Canada Revenue Agency (CRA) systems. This issue appeared after the CRA systems were updated to include fields related to AII over the first weekend in January 2020.

Resolution

This issue was resolved in TaxCycle version 9.0.37806.0.