TaxCycle version 8.1.34803.0—Accelerated CCA in T5013

This release updates the accelerated CCA calculations in TaxCycle T5013 and finalizes the Québec TP-600 partnership returns and RL-15 slips.

Get this version as an automatic update, a full download from our website or a free trial. (To deploy auto-update files from your network, see the Auto-update files page.)

Release highlights

Accelerated CCA calculations for T5013 and TP-600

This release updates the capital cost allowance (CCA) calculations in TaxCycle T5013 to support the new CCA measures. You will notice the changes to the fields and calculations on the S8Asset in T5013. These are very similar to those in TaxCycle T2.

To learn how Accelerated CCA is calculated for the affected classes, please read the Accelerated CCA help topic, specifically the section on T2/CO-17 and T5013/TP-600: Calculation of Accelerated CCA on the S8Asset.

Final version of 2018 TP-600/RL-15

This release finalizes the 2018 Québec TP-600 Partnership Information Return and RL-15 slips in TaxCycle T5013. All forms are final and ready for filing. This includes all the forms and features announced in the preview version, and the following additions:

  • Québec MR-69 Authorization to Communicate Information or Power of Attorney is approved for paper filing from TaxCycle T5013.
  • Accelerated CCA calculations for federal and Québec (see above).
  • New fields in the % Interest in the Partnership section on the T5013Partner and RL15Partner slips allow you to indicate the partner's share of interest in the partnership for reporting purposes, without affecting the percentage used for allocating the income.
  • New workflow items for tracking TP-600 and RL-15 filing.
  • The client letter (CLetter) in TaxCycle T5013 has been revised to include sections on: signing the RC59, RC59X, and MR-69, when required; filing status information for the T5013FIN return, T5013 slip summary, TP-600 return and RL-15 slips; indication of the client's reporting of foreign property ownership, including whether a T1135 is required.

Updated GST370 in TaxCycle T1

The GST370 form in TaxCycle T1 has been updated to a new version received from the CRA this week. This form removes any reference to the 12% BC HST. Previously, the CRA had updated the EFILE system with this change, but the form had not been updated until now. This was causing T1 returns rejected with EFILE error code 2078. If you have amounts on the GST370 that used the 12% BC HST, they will automatically be changed to the 5% GST when you open the return in this release.

MR-69 in TaxCycle T3

The Québec MR-69 Authorization to Communicate Information or Power of Attorney is approved for paper filing from TaxCycle T3. The Client Letter (CLetter) in TaxCycle T3 has also been update to include sections on signing the RC59, RC59X, and MR-69, when required.

Client Manager filter changes

This release splits out some of the filters under Return type into two new collapsible sections in the Quick Searches sidebar: Files and Taxpayer. This also moves the list of filters under each section into a single column, which makes their labels more readable on smaller screens.

Customer requests/fixes

  • T1—A new field on the Dependant (Dep) worksheet displays the dependant's age as of December 31st.
  • T1—Answering the foreign property question is no longer required when preparing a return for non-residents.
  • Options—This release fixes a reported issue with the options password dialog box on Windows® Server 2016.
  • Client Manager—A new filter under the Taxpayer group allows you to filter T1 returns that have self-employed income. This looks at lines 162 to 170 and/or 135 to 143 on the T1 jacket to determine whether the taxpayer has self-employed income. You can now also add a column to the Client Manager to indicate whether taxpayers have self-employed income. (Read the Column layouts help topic to learn how to add and remove columns from the Client Manager.)