TaxCycle 14.1.56515.0—T3/TP-646 and T5013/TP-600 Rollover

This TaxCycle release rolls over the T3/TP-646 and T5013/TP-600 modules to the 2025 tax year.

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

• Rollover of T3/TP-646 to 2025
• Rollover of T5013/TP-600 to 2025

Rollover of T3/TP-646 to 2025

The new module for TaxCycle T3 allows you to begin data entry for 2025 federal and Québec trust income tax and information returns. Please note the following:

• You can carry forward 2024 T3 returns from TaxCycle. Competitor carry forwards will be available in a future release.
• You can use this module to file T3 trust returns with fiscal year ends in 2025.
• The government forms are the 2024 forms updated to include 2025 indexed amounts and budget changes announced or estimated based on the information we have at this time. A review message appears on the year-end date field and in a bulletin at the top of the form to remind you of this.
• This module permits the transmission of T3 slips through the CRA Internet File Transfer (XML) and the Transmission of Québec Relevés.
• T3 EFILE is available for the 2025 year.

T3 Updates

• Schedules with Period 1 and Period 2 fields for capital gains (S1, S1A, S2, S9 Part C, and S9WS) have been updated for the 2024 tax year. The Period 1 fields are now non-editable, as they are not applicable for the 2024 tax year. The current form layout reflects the certified 2024 tax forms. We expect to update the forms to reflect the 2025 tax year in late 2025 or early 2026.
• We have retained the EFILE fields for capital gains reporting on forms from the 2023 tax year. We anticipate the CRA will maintain these fields for the 2025 tax year, although they will still display "Period 2" until official 2025 forms are released.

Rollover of T5013/TP-600 to 2024

The new module for TaxCycle T5013 allows you to begin data entry for 2025 federal and Québec partnership returns. Please note the following:

• You can carry forward 2024 T5013 returns from TaxCycle, including the creation of stub period returns. Please wait to carry forward competitor files.
• You can use this module to file partnership returns with fiscal year ends in 2025.
• The government forms are the 2024 forms updated to include 2025 indexed amounts and budget changes announced or estimated based on the information we have at this time. A review message appears on the year-end date field and in a bulletin at the top of the forms to remind you of this.
• This module permits CRA Internet File Transfer (XML) and transmission of RL slips to Revenu Québec.
• The T1135 and T1134 in this module are certified for filing for year ends on or before May 31, 2025.