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TaxCycle version 8.0.33980.0—.NET Framework 4.7.2

This TaxCycle release is a major update to technology. It includes the required Microsoft .NET update we announced this summer, as well as the 2018 TaxCycle Forms module and other changes.

This version is as an automatic update, a full download from our website and a free trial. (Custom auto-update files are available for deployment from your own network; see the Auto-update files page.)

Client Manager update and re-index required

To support the changes in this release, the Client Manager must be updated and database re-indexed.

  • If you are running Client Manager over the network, please also make sure to update TaxCycle on the server where the Client Manager server runs at the same time as you update TaxCycle on computers connecting to it.
  • If you install this update at the end of the day, the Client Manager will re-index automatically overnight. TaxCycle does not need to be running as the Client Manager Service runs in the background even when TaxCycle is closed. This re-index is part of what it does every night (so the computer must be powered on).
  • If you don't want to wait, you can manually re-index the database. To learn how, read the "Indexing and re-indexing" section in the Index and monitored folders help topic.

Release highlights

  • Required Microsoft .NET Framework 4.7.2 upgrade
  • End of support for Windows Server 2008 SP2
  • TaxCycle 2018 Forms module
  • Main menu reorganization
  • Support for traditional date format strings in file names
  • Client Manager updates
  • TaxCycle T1 updates
  • TaxCycle T2 updates
  • New! CO-17 online filing with clicSÉQUR
  • TaxCycle T3 updates
  • TaxCycle T5013 updates
  • Review marks enhancements

Required Microsoft .NET Framework 4.7.2 upgrade

As announced earlier this summer, TaxCycle now requires Microsoft .NET Framework, version 4.7.2. There are several updates in this version change that will help the Client Manager and TaxCycle run even better. If you haven't already installed this update, or haven't received it through Windows Update, it will automatically be installed when you update TaxCycle.

End of support for Windows Server 2008 SP2

Changing to .NET Framework 4.7.2 for running TaxCycle also requires we end support for Windows Server 2008 SP2 as it is not an eligible operating system for this version of .NET. If you want to double-check whether your system supports this new .NET version, please refer to the .NET Framework system requirements page.

TaxCycle 2018 Forms module

This release includes the 2018 module of the TaxCycle assorted forms collection. Existing forms have been updated to the latest version and several new forms added.

New forms:

  • GST190 New Housing Rebate Application for Houses Purchased from a Builder
  • GST191 New Housing Rebate Application for Owner-Built Houses
  • GST524 New Residential Rental Property Rebate Application
  • GST525 Supplement to the New Residential Rental Property Rebate ApplicationCo-op and Multiple Units
  • NR95 Authorizing or Cancelling a Representative for a Non-Resident Tax Account
  • RC4288 Request for Taxpayer ReliefCancel or Waive Penalties or Interest
  • FIN146 BC Authorization or Cancellation of a Representative (replaces FIN571 which is no longer in use)

Significant updates

  • T400A Notice of Objection Income Tax Act is considerably changed from the prior version.
  • The maximum refund threshold on the FIN196 BC Application for Refund of Logging Tax has increased to $6,667.
  • Carryforwards from TaxCycle 2017 Forms to this new version now include details from the NR6 form, T106/T106 Slips, and T1134/T1134 Slips.
  • The TaxCycle Forms module is now available in French.

Main menu reorganization

To better support those who use TaxCycle on a vertical monitor, working on laptop screens, and translation of the interface in French, we have reorganized the main menus in TaxCycle. Highlights include:

  1. Adding a Client menu.
  2. Moving the DoxCycle commands to a separate menu.
  3. Renaming the Protect menu to Security.
  4. On all menus, adding drop-down menus for related actions that are used less frequently.

2018-main-menu-reorg

Support for traditional date format strings

TaxCycle now supports traditional date format masks when specifying a file name for a PDF in print settings or when formatting dates in a template. You can also continue to use the example format, with the date January 2, 2003.

For example, in print settings, you can now use {{Date: yy-MMM-dd}} or {{Date: 03-Jan-02}} to enter today's date in the format 18-Sep-24 to the PDF file name:

2018-date-format-string-print-pdf

 

Similarly, in templates, you can use {{ format(CurrentClient.Info.CommonData.FileByDate, "yyyy-dd-MMM") }} or {{ format(CurrentClient.Info.CommonData.FileByDate, "2003-02-Jan") }} to insert a filing date with the format of: 2019-30-Apr:

2018-date-format-string-templates

See the table on the Microsoft Custom Date and Time Format Strings page for a list of supported format strings.

Copy the client SIN

You can now copy the client's Social Insurance Number by clicking on the number in the taxpayer drop-down menu at the top of the sidebar:

 

2018-copy-sin

 

Client Manager updates

  • Customer requested—You can now search on the last three digits of a client's social insurance number, business number or other account number. This allows a preparer who receives a letter with the first six digits masked to search on the last three digits.
  • Customer requested—Indexing and searching for forms was improved.
  • Customer requested—Batch calculate function was improved and fixed.
  • Search results now correctly display a masked client number for all return types.

TaxCycle T1 updates

  • The Schedule 2 worksheet now accepts negative entry on certain lines—122, 126, 135, 137, 139, 141, 143 (business rental and partnership income), and 127—when the return is uncoupled.
  • Customer requested—The rules for unused tuition and education amounts now handle when a taxpayer moves from one province to another during the year. To support this change, line 1 on all provincial Schedule 11s is now a calculated field. It calculates from the Carryforward worksheet, based on matching provinces for both years (or not), and following the note at the bottom of the provincial S11s.
  • Other amounts section of the Carryforward worksheet has been expanded to show more information.
  • The carryforward from Taxprep 2017 to TaxCycle 2018 T1 is now working. A reminder that competitor carryforwards from 2017 returns are currently under review. They will be finalized in late 2018 or early 2019.
  • Customer requested—A suggestion now warns you if RC267, RC268 and RC269 are all completed to prevent claiming multiple adjustments on line 206.
  • Customer requested—2018 module now includes an engagement letter to the legal representative of the estate of a taxpayer who died during the year. The DELetter (LettreMD in French) will appear as used in the return when a date of death is entered on the Info worksheet.
  • Customer requested—You can now Smart Copy and Paste details from a T2042 into an AgriStability statement.
  • Customer requested—The amount from line 19 of the SPP Contributions section on the RRSP worksheet is now included in the Unused RRSP, PRPP or SPP contributions on the Carry Forward Summary
  • Customer requested—A Quick Fix review message was added to the Net Capital Loss worksheet to use the number from Auto-fill my return (AFR) for the Year 2000 inclusion rate.

TaxCycle T2 updates

  • Schedule 5—Per the March 12, 2018 Manitoba budget, a new line for Manitoba child care centre development tax credit has been added.
  • T1196 (BC)—The schedule has been revised to allow a tax credit for scriptwriting expenditure, as announced in the 2018 budget
  • SCT1 (Saskatchewan Capital Tax) was under preview and is now final.
  • Customer requestedSchedule 7 Part 6 column BB no longer allows a negative amount.
  • CO1027Instalments and CO1027InstalmentsPaymentSchedule are now final.

New! CO-17 online filing with clicSÉQUR

Revenu Québec's clicSÉQUR can now be used to file your client's CO-17 return. On the CO17OnlineWS in TaxCycle, enter the username and password assigned by Revenu Québec to the client or the client’s representative when registering with My Account for businesses online services. When you go to transmit the return, TaxCycle will use these details when filing.

 

 

2019-co-17-clicsequr

 

TaxCycle T3 updates

  • Customer requested—The CLetter client letter in the 2017 and 2018 T3 modules now reflects whether the T3RET is eligible for electronic filing and whether it has been transmitted.

TaxCycle T5013 updates

  • In 2017 and 2018, the Adjusted Cost Base (ACB), ending used in calculating the Limited Partners’ Adjusted At-Risk (ARA) amount was corrected so that it copies from the ACB ending field (it was previously coming from Line 300).
  • In 2018 only, line 430 now allows negative values. And the calculation for Adjusted at-risk amount (ARA) was also amended to subtract line 430, as specified by CRA.
  • A duplicate GIFI import/presentation issue was corrected on the S100.

Review marks enhancements

In response to customer feedback, we have made the following changes to review marks:

  1. You can now add the review marks to the Quick Access Toolbar at the top of the TaxCycle window. Read the Quick access toolbar help topic to learn how to do this.
  2. If you have a review mark selected, press and hold the Ctrl key to temporarily change it back to the cursor so that you can navigate or perform other tasks. Release the Ctrl key to revert to the review mark.