TaxCycle 12.1.49356.0—Minor Updates (Revised)

This version of TaxCycle adds a few small updates and resolves issues discovered since the last release.

To install this version immediately, download the full installer from our website or request a free trial. Once we enable the automatic update for this version, TaxCycle will prompt you to install it according to the priority set in your TaxCycle Options. (To deploy auto-update files from your network, see the Auto-Update Files page.)

Release Highlights

• T1 Updates
• UHT-2900 Changes
• T3 Updates
• T3010 Updates
• Customer Requests
• Resolved Issues

T1 Updates

• Form T2039, Air quality improvement tax credit, has been finalized and approved by the CRA.
• Updated maximum Old Age Security (OAS) to reflect the CRA's change from July 2022 that increased OAS by 10% for anyone aged 75 and up. TaxCycle will now also suggest this new calculated amount in the Quick Fix review message.

The following forms still display a Preview watermark and are not ready for EFILE. All other T1 forms are final.

• T2203, Provincial and Territorial Taxes for Multiple Jurisdictions
• CCA-related forms for business and rental statements while we complete the implementation of immediate expensing calculations.

UHT-2900 Changes

• Resolved Known Issue: Exemption Not Calculating on UHT-2900
• Added a section about excluded and affected owners to the top of the UHT-2900 form to help determine if a UHT-2900 return needs to be filed. This section also helps with the population of other data on the form as applicable.

T3 Updates

Updated form T2038-IND, Investment Tax Credit (Individuals) to the latest version released by the CRA on February 8, 2023. 

T3010 Updates

Updated form T2046, Tax Return Where Registration of a Charity is Revoked to the latest 2023 version released by the CRA.

Customer Requests

• T1—Added a New File option for AgriStability forms (T1163/1273)
• T1—Added a New File option for the Information about organ and tissue donations question for Ontario and Nunavut.

Resolved Issues

• Known Issue: Invalid Protocol for AFR Response
• T1—Corrected Payment due date text for self-employed returns in the 2021/2022 pre-season and post-season letters (PreSeason, JPreSeason, FPreSeason, PostSeason, JPostSeason, FPostSeason). The pre-season letters now pull the filing and payment due dates from the Engagement and Interest worksheets, respectively. The post-season letters contain an additional bullet point to address the different filing deadline for self-employment returns.
• Customer Reported T5013—Fixed calculation for automatic allocation of Line 186 (non-SR&ED) investment tax credits (ITCs) for Limited Partners.