|
Notice: The information on this page is only for users of Corporate Taxprep 2019. If you are using Corporate Taxprep Classic 2019, consult the Professional Centre in your program or our To regularly receive information on the latest version of Corporate Taxprep, make sure that you are subscribed to the enhanced edition of Taxprep e-Bulletin service. Consult the News and Product Support page of our Web site to check your Taxprep e-Bulletin service subscription. |
Release Notes
Overview – Version 2019 1.1
Corporate Taxprep 2019 v.1.1 includes some tax changes. Here is a summary of the main new topics and enhancements included in this version.
Changes to Alberta and Nunavut tax rates
The Alberta and Nunavut governments have announced changes to their respective tax rates starting July 1, 2019. For more information, consult the notes relating to Schedule AT1 and Schedule 481.
Training
To allow you to familiarize yourself with the new enhanced Corporate Taxprep interface, a free live Webinar is available to you. To learn about the presentation dates and register for the session most convenient for you, go to Webinars > Session Calendar.
To consult the other training options available regarding Personal Taxprep (seminars, Webinars, tutorials and more), access the "Training" section of the Taxprep Web site. You can also access it from the program, by selecting Get Taxprep Training in the Help menu.
Updated Forms
Federal
Schedule 8 WORKCHART – Capital cost allowance (CCA) workchart (Jump Code: 8 WORKCHART)
Following the confirmation by the CRA that CCA classes 54 and 55 property acquired in the taxation year are to be treated as if they were accelerated investment incentive property (AIIP) for purposes of the calculations in Schedule 8, Capital cost allowance (CCA) (Jump code: 8), the line UCC adjustment for classes 54 and 55 property has been removed.
When an amount is entered on line 203, Additions (property subject to subsection 1100(2) ITR), the following lines will be calculated, when applicable:
- Line 225, Cost of additions of AIIP included in the amount on line 203
- Proceeds of disposition available to reduce the UCC of AIIP
- Net capital cost additions of AIIP acquired during the year
- UCC adjustment for AIIP acquired during the year
When opening a client file prepared with a prior version of Corporate Taxprep, an amount entered as an overridden value on line UCC adjustment for classes 54 and 55 property will be retained, as an overridden value, on line UCC adjustment for AIIP acquired during the year.
Alberta
AT1 – Alberta Corporate Income Tax Return (Jump code: AJ)
In accordance with provisions of Bill 3 tabled on May 28, 2019, by the Alberta government, the basic tax rate decreases from 12% to 11% on July 1, 2019. Therefore, the rate used for calculating line 068 has been modified. When the corporation’s taxation year straddles July 1, 2019, this rate is prorated based on the number of days in the taxation year that are after June 30, 2019. In addition, the small business deduction rate for the province has been modified. Please consult the AT1 Schedule 1 note for more details regarding this subject.
AT1 Schedule 1 – Alberta Small Business Deduction (Jump code: A1)
In accordance with provisions of Bill 3 tabled on May 28, 2019, by the Alberta government, the small business deduction rate for the province decreases from 10% to 9% on July 1, 2019. The table Calculation of the Alberta Small Business Deduction has been modified to reflect this change.
Nunavut
Schedule 481 – Nunavut Corporation Tax Calculation (Jump Code: 481)
In accordance with provisions of Bill 26, tabled on May 29, 2019, by the Government of Nunavut, a new custom line has been added to Part 2, to take into account the reduction in the lower rate, which decreased from 4% to 3% on July 1, 2019.
When opening a client file prepared with a prior version of Corporate Taxprep, if an amount had been entered on line H, it will be retained on that line which now displays the total Nunavut tax at the lower rate.
Problems Corrected in Version 2019 1.1
The following problems have been corrected in version 2019 1.1:
Federal
- Corporate Taxpayer Summary, Five-year Comparative Summary and Tax Scenarios Worksheet – The dividend refund amount does not display for a taxation year starting before 2019
- Capital Cost Allowance (CCA) Workchart – Incorrect calculation of the 60% additional CCA (Québec) when a property entered on the Additions and Dispositions Workchart qualifies for the additional CCA of 30%
Overview – Version 2019 1.0
Corporate Taxprep 2019 v.1.0 includes several technical and tax changes. Here is a summary of the main topics addressed in this document.
Schedule 200 – T2 Corporation Income Tax Return (Jump Code: J) – Modifications
Various modifications have been made with respect to the small business deduction, the refundable dividend tax on hand and the dividend refund. For more information, consult the note relating to Schedule 200.
Schedule 3 – Dividends Received, Taxable Dividends Paid, and Part lV Tax Calculation (Jump Code: 3) – Modifications
Various modifications have been made to the schedule to perform the calculation of the amounts used to calculate the refundable dividend tax on hand. For more information, consult the note relating to Schedule 3.
Schedule 7 – Aggregate Investment Income and Income Eligible for the Small Business Deduction (Jump Code: 7) – Modifications
Part 2, “Adjusted aggregate investment income,” has been added to calculate the adjusted aggregate investment income used to calculate the business limit reduction. For more information, consult the note relating to Schedule 7.
Schedule 8 – Capital Cost Allowance (CCA) (Jump Code: 8) – Modifications
Various modifications have been made with respect to Accelerated Investment Incentive Property rules and the new classes 54 and 55 relating to zero-emission vehicles. For more information, consult the note relating to Schedule 8.
Improve Your Productivity
Client Letter Worksheet (Jump Code: LW)
A check box has been added to the “AT1- Paper format” section for Form AT1 Schedule 10 under the line Form(s) to retain. This box will be selected when Form AT1 Schedule 10 (Jump Code: A10) is applicable and box AT1 Schedule 10 is not selected under the line Form(s) to be signed and/or sent. In addition, a check box has been added next to the line Form(s) to retain. This box will be selected when Form AT100 (Jump Code: A100) or Form AT1 Schedule 10 is applicable.
A check box has been added to the “AT1- NET FILE” section for Form AT1 Schedule 10 under the line Form(s) to retain. The box will be selected when Form AT1 Schedule 10 is applicable, box AT1 Schedule 10 is not selected under the line Form(s) to be signed and/or sent and box Alberta Net File is selected.
As a result of these changes, two paragraphs were added to the Client Letter, Filing Instructions (Jump Code: CLF).
Federal
Schedule 9 WORKCHART – Related and Associated Corporations Workchart (Jump Code: 9 WORKCHART)
Because the associated corporations’ paid-up capital of the preceding taxation year that should be taken into account is not necessarily the same on all forms, the field “Paid-up capital of the preceding taxation year (adjusted)” has been added to the Sections “Québec CO-737.SI – Deduction for innovative manufacturing corporations” and “Québec CO-1029.8.36.IN –Tax credit for investment” in copy 2 and following of the schedule to allow you to override the paid-up capital amount based on the information provided in the Guide d'aide au calcul du capital versé, if applicable.
RC4649 – Country-by-Country Report (Jump Code: RC4649)
Diagnostic E105 that requires that you enter a value, which displays in subsection 1 of Part II, will no longer display if you enter “0” in one of the fields in this section.
T1134 – Information Return Relating to Controlled and Not-Controlled Foreign Affiliates (Jump Code: 1134)
Diagnostic M513 that requires that you enter a value, which displays at statement (ii), If yes, give the reporting entity's total participating percentage for the foreign affiliate for that year, in Section 3 of Part III of the T1134 Supplement form, will no longer display if you enter “0” in the field relating to the statement.
Québec
CO-156.TR – Additional Deduction for Transportation Costs of Small and Medium-Sized Manufacturing Businesses (Jump Code: 156TR)
If all the following conditions are met, lines 11 and 14 in Part 2 will be calculated from lines 187a and 187b in Section 11.2 of Form CO-771 (Jump Code: 771):
- The corporation is a small manufacturing corporation that meets requirements 1 through 4 in Part 1 of Schedule 27 (Jump Code: 27).
- Box 05b is selected in Part 1 of Form CO-771.
- The answer to the custom question Does the corporation carry on primary sector activities or manufacturing sector activities? of Form CO-771 is “Yes.”
CO-1012 – Application by a Corporation to Carry Back a Loss (Jump Code: 1012)
When rolling forward a client file, if no permanent establishment in Québec was entered in the file before the roll forward, the amounts will not be carried to the line corresponding to the preceding taxation year in the columns Adjusted taxable income and Taxable capital gains in Part 2. To be entitled to deduct a loss on income or on a gain, the corporation had to have a permanent establishment in Québec during the period in which the income or the gain was earned. Verify if the amounts entered in the columns Adjusted taxable income and Taxable capital gains of the second and third preceding taxation years should be removed.
Alberta
AT1 Schedule 10 – Alberta Loss Carry-Back Application (Jump Code: A10)
When rolling forward a client file, if no permanent establishment in Alberta was entered in the file before the roll forward, the amounts will not be carried to the line corresponding to the preceding taxation year in the columns Adjusted taxable income and Capital gain (100%) in the “Taxable incomes and Capital gains of the three preceding taxation years” subsection. To be entitled to deduct a loss on income or on a gain, the corporation had to have a permanent establishment in Alberta during the period in which the income or the gain was earned. Verify if the amounts entered in the columns Adjusted taxable income and Capital gain (100%) of the second and third preceding taxation years should be removed.
Deleted Forms
Federal
- Schedule 10 - Cumulative Eligible Capital Deduction (Jump Code: 10)
- Schedule 10 WORKCHART - Cumulative Eligible Capital Deduction Workchart (Jump Code: 10 WORKCHART)
- Schedule 10 WORKCHART ADD - Eligible Capital Property Additions and Dispositions Workchart (Jump Code: 10 WORKCHART ADD)
Québec
- CO-130.B - Deduction Respecting Incorporeal Capital Property (Jump Code: Q10)
- CO-130.B WORKCHART - Deductions Respecting Incorporeal Capital Property Workchart (Jump Code: Q10 WORKCHART)
Alberta
- AT1 Schedule 14 - Alberta Cumulative Eligible Capital Deduction (Jump Code: A14)
- AT1 Schedule 14 WORKCHART - Cumulative Eligible Capital Deduction Workchart (Jump Code: A14 WORKCHART)
- AT1 Schedule 14 Supplemental Worksheet - Alberta Cumulative Eligible Capital Deduction (Jump Code: A14S)
Updated Forms
* Note that form titles followed by an asterisk (*) have been updated according to the most recent version issued by the applicable tax authority.
Federal
Schedule 9998 – Other Comprehensive Income (Jump Code: G9998)
When importing GIFI data by an accounting software program, the sign for item amount 7010 will no longer be changed.
When importing GIFI data using the CCH Engagement program (GIFI File), the signs for item amounts 7000, 7002, 7004, 7006, 7008 and 7020 will be changed.
Schedule 140 – Income Statement Summary (Jump Code: G140)
When importing GIFI data by an accounting software program, the sign for item amount 9980 will no longer be changed.
Schedule 200 – T2 Corporation Income Tax Return (Jump Code: J)*
Line 210 has been deleted because Schedule 10 has been removed from the program.
Former line E in the “General tax reduction for Canadian-controlled private corporations” section, former line O in the “General tax reduction” section and line 628 have been removed from the form because the additional credit unions tax credit can only be claimed for a taxation year that includes days before 2017.
In addition, the labour tax credit for qualifying journalism organizations has been added to the “Summary of tax and credits” section. For more details about this tax credit, please read section 23 of Bill C-97, tabled on April 8, 2019.
Small business deduction
The “Small business deduction” section (SBD) has been modified because of the addition of the business limit reduction related to passive investment income. Custom modifications had already been made in this section to take this reduction into account. Therefore, the calculation of the reduced business limit after allocation as well as the SDB calculation has been split into two periods, i.e. one for taxation years starting before 2019 and the other for taxation years starting after 2018. The modifications are as follows:
- Former line E1 becomes line E.
- Former line E2 becomes line G and the calculation on this line has been split onto two lines, i.e. lines F and G.
- The new line 417 corresponds to former field “Adjusted aggregate investment income” of former line E2.
- The new line 422 corresponds to former line E.
- Line 426 has been added to calculate the reduced business limit for taxation years starting after 2018.
- Line 428 has been added to calculate the reduced business limit after assignment for taxation years starting after 2018.
- Line 4 has been added to calculate the SBD for taxation years starting after 2018.
- Following the addition of line 428, the calculation of line E in the “General tax reduction for Canadian-controlled private corporations” section, line G in the “Refundable portion of Part I tax” section, line F in the “Part I tax” section, the provincial tax calculations, line 626 in Schedule 17 (Jump Code: 17), lines 9A, 9D, 13A and 13D in Schedule 27 (Jump Code: 27), line A in Schedule 341 (Jump Code: 341) and the Reduced business limit and Unused business limit columns in Schedule 23 (Jump Code: 23) have been modified for taxation years starting after 2018.
Refundable dividend tax on hand
Following the update of this form, former sections “Refundable dividend tax on hand” (RDTOH) and “Dividend refund” have been redesigned and split into two periods, i.e. one for taxation years starting before 2019 and the other for taxation years starting after 2018. As a result, the RDTOH - IMRTD filter has been modified to reflect this change. Lines 460 through I of the “Refundable dividend tax on hand (for tax years starting after 2018)” section are used to calculate the eligible refundable dividend tax on hand (ERDTOH) and the non-eligible refundable dividend tax on hand (NERDTOH) for the first taxation year starting after 2018 (2019 transitional rule).
For a taxation year starting before 2019
When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on lines 460, 465 and 480 of the former “RDTOH” section, these amounts will be retained respectively on the new lines 460, 465 and 480 of the “Refundable dividend tax on and (for tax years starting before 2019)” section.
When rolling forward a client file of a Canadian-controlled private corporation, the amount on line 485 of the former “RDTOH” section and the amount on line U of the former “Dividend refund” section will be rolled forward to lines 460 and 465 of the “Refundable dividend tax on hand (for tax years starting before 2019)” section.
For the first taxation year starting after 2018
When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on lines a, b, e, 460, 465 and 480 of the former “RDTOH” section, the following amounts in the “Refundable dividend tax on hand (for tax years starting after 2018) section will be retained:
- The amount on line 460 will equal the total of lines a and 460 of the former “RDTOH” section.
- The amount on line 465 will equal the total of lines b and 465 of the former “RDTOH” section.
- The amount on line 480 will equal the total of lines e and 480 of the former “RDTOH” section.
When rolling forward a client file of a corporation that is a Canadian-controlled private corporation throughout the first taxation year and its previous taxation year and that did not make an election under subsection 89(11) in its current or previous taxation year, the amount on line 485 of the former “RDTOH” section and the amount on line U of the former “Dividend refund” section will be rolled forward to lines 460 and 465 of the “Refundable dividend tax on hand (for tax years starting after 2018)” section.
For the second and subsequent taxation years starting after 2018
When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on lines a, b, e, 460, 465 and 480 of the former “RDTOH” section, these amounts will be retained respectively on the new lines 570, 525, 535, 575 and 540 in the “Refundable dividend tax on hand (for tax years starting after 2018)” section. In addition, if an amount was overridden on line 485 of the former “RDTOH” section or line U of the former “Dividend refund” section, these amounts will be retained respectively on the new lines DD and JJ of the “Dividend refund (for tax years starting after 2018)” section.
When rolling forward a client file of a Canadian-controlled private corporation, if an amount was entered on lines T1, U1 and U3, T2 as well as U2 of the former “Dividend refund” section, these amounts will be retained respectively on the new lines 520, 570, 535, and 575 de la section “Refundable dividend tax on hand (for tax years starting after 2018)” section.
Schedule 1 – Net Income (Loss) for Income Tax Purposes (Jump Code: 1)
Lines 108 and 405 have been removed from this schedule, because they are obsolete. When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on one of these lines, it will not be retained.
Schedule 2 – Charitable Donations and Gifts (Jump Code: 2)*
Line 510, which was used to enter the current-year gifts of certified ecologically sensitive land made before February 11, 2014, has been removed. When opening a client file prepared with a prior version of Corporate Taxprep, if an amount had been entered on this line, it will not be retained.
Schedule 3 - Dividends Received, Taxable Dividends Paid, and Part IV Tax Calculation (Jump Code: 3)*
Former columns 241 and 270 that related to the amount of dividends received before 2016 have been removed from the table in Part 1. In addition, the subsection “If your tax year begins before January 1, 2016” has been removed from Part 2. When opening a client file prepared with a prior version of Corporate Taxprep, the data that was entered on these lines will not be retained.
In Part 1, former custom column F1, Eligible dividends (included in column F), becomes an official column and is renamed G. The new column 265 is used to indicate Part IV tax on eligible dividends and is created automatically.
Lines 1A to 1L have been added at the bottom of the table in Part 1. These lines present the total of columns 240, 242, 265 and 275 of the connected and non-connected corporations and are used to complete line 320 in the “Taxable income” section of Schedule 200 (Jump Code: J).
Lines 2E to 2J have been added to Part 2. These lines are created when the taxation years starts after 2018 and are used to determine the required amount of Part IV taxes payable in order to calculate the eligible refundable dividend tax on hand (ERDTOH) at the end of the taxation year. The amounts on these lines are updated to lines L and M in the “Refundable dividend tax on hand (for taxation years starting after 2018)” section of Schedule 200. Custom lines N1 to N3 have been removed from Part 2. When opening a client file prepared with a prior version of Corporate Taxprep, data that was entered on lines N1 to N3 will not be retained.
In the table of Part 3, custom column R1, Eligible dividends (included in column R) becomes an official column and is renamed P. In addition, custom line 450a becomes an official column and is renumbered 455. Moreover, lines 465, 470, 3A and 3B have been added. These lines are used to calculate the dividend refund on lines AA and DD of Schedule 200. For more information, consult the note relating to Schedule 200.
Schedule 5 – Tax Calculation Supplementary – Corporations (Jump Code: 5)*
Yukon Bill 33 implements the Yukon government carbon price rebate. As a result of this measure, custom line Yukon government carbon price rebate has been added above line 249 in Part 2, “Yukon tax payable, tax credits, and rebates.”
In addition, in its Bill 139, tabled on April 4, 2019, the Government of Nova Scotia introduces two new non-refundable tax credits of 15%. To that end, two custom lines have been added under line 556 in Part 2, “Nova Scotia tax payable, tax credits, and rebates” i.e. the lines Innovation equity tax credit and Nova Scotia venture capital tax credit.
Schedule 6 – Summary of Dispositions of Capital Property (Jump Code: 6)
The Foreign Source column that appears in each table of the schedule and allows you to indicate the capital gains and losses arising from the disposition of foreign property, has been renamed FS (for foreign source). In addition, the new custom column PA (for passive asset) has been added to allow you to indicate the capital gains and losses arising from the disposition of property other than an active asset, as defined under subsection 125(7) ITA. When the custom check box under column PA is selected, the eligible portion of the capital gains or losses will be updated to lines 1.1 and 2.1 respectively in column C of custom Part 3A in Schedule 7 (Jump Code: 7).
Tracking the adjusted cost base (Jump Code: ACB)
The custom question Is this an asset other than an active asset, as defined in subsection 125(7) ITA? has been added. When the answer to this question is “Yes,” the check box in column PA of the corresponding line created in Schedule 6 (Jump Code: 6) is automatically selected.
Schedule 7 – Aggregate Investment Income and Income Eligible for the Small Business Deduction (Jump Code: 7)*
Part 2, “Adjusted aggregate investment income,” has been added to calculate the investment income used in the calculation of the business limit reduction. Former custom Part 2A, “Canadian investment income calculation,” has been integrated into the new custom Part 3A, “Canadian and foreign investment income and adjusted aggregate investment income calculation,” which presents in three separate columns the detailed calculations for the Canadian investment income (column A), the foreign investment income (column B) and the adjusted aggregate investment income (column C). The amounts entered in these columns are used to update Parts 1 to 3 of the schedule.
When opening a client file prepared with a prior version of Corporate Taxprep containing a return with a taxation year that starts in 2019 and whose preceding taxation year, entered on the line First in the “History of taxation years” section of Schedule 4 (Jump Code: 4N), starts before 2019, the amount entered on the line Total adjusted aggregate investment income for taxation years that end in the preceding calendar year in the “Schedule 23 – Agreement among associated Canadian-controlled private corporations to allocate the business limit” section of Schedule 9 WORKCHART (Jump Code: 9 WORKCHART), will be updated to line 744 as an overridden amount.
When rolling forward a client file in which there is a return with a taxation year that starts after 2018, the amount on line 745, Adjusted aggregate investment income, will be rolled forward to line Total adjusted aggregate investment income for taxation years that end in the preceding calendar year in the “Schedule 23 – Agreement among associated Canadian-controlled private corporations to allocate the business limit” section of Schedule 9 WORKCHART .
In addition, when rolling forward a client file containing a return with a taxation year that starts before 2018 and ends after December 30, 2018, the amounts on lines 032, 042, 052, 062, 072 and 082 in Part 1 will be updated respectively to lines 2D, 2E, 2F, 2G, 2H and 2L under subsection “If this is your first tax year starting after 2018, complete the following portion” in Part 2.
Schedule 8 – Capital Cost Allowance (CCA) (Jump Code: 8)*
The table in the schedule has been modified to allow for the CCA calculation according to the Accelerated Investment Incentive Property (AIIP) rules that were integrated in subsection 1100(1) ITR. The following columns have been added:
- Column 4, Cost of acquisitions from column 3 that are accelerated investment incentive properties (AIIP) (line 225);
- Column 6, Amount from column 5 that is assistance received or receivable during the year for a property, subsequent to its disposition (line 221);
- Column 7, Amount from column 5 that is repaid during the year for a property, subsequent to its disposition (line 222);
- Column 9, UCC;
- Column 10, Proceeds of disposition available to reduce the UCC of AIIP;
- Column 11, Net capital cost additions of AIIP acquired during the year;
- Column 12, UCC adjustment for AIIP acquired during the year;
- Column 13, UCC adjustment for non-AIIP acquired during the year (line 224).
Former column 7, Reduced undepreciated capital cost, has been removed.
When the corporation’s taxation year ends before November 21, 2018, line 211 will be calculated, if applicable, and transmitted electronically (or included in the T2 Bar Codes return). Otherwise, columns 10 to 13 will be calculated, if applicable, and line 224 will be transmitted electronically (or included in the T2 Bar Codes return).
Schedule 8 WORKCHART – Capital Cost Allowance (CCA) Workchart (Jump Code: 8 WORKCHART)
All of the new lines and columns added following the update of Schedule 8, except for column 4, Cost of acquisitions from column 3 that are accelerated investment incentive properties (AIIP) and column 9, UCC, that already existed, have also been added to Schedule 8 WORKCHART when they are relevant to the CCA calculation of the CCA class.
In addition, for property in CCA classes 12 and 15, the cost of additions of property acquired after November 20, 2018, will automatically be added to line 225. However, the adjustment factor of these properties for the calculation of column 12, UCC adjustment for AIIP acquired during the year, of Schedule 8 (Jump Code: 8), is 0.
New CCA classes 54 and 55 have been added for zero-emission vehicles acquired after March 18, 2019. The line UCC adjustment for classes 54 and 55 property has been added to calculate the adjustment required to obtain a maximum allowable CCA equal to 100% of the capital cost for additions during the taxation year.
Codes 23 and 24 have been removed from the eligible property list for CCA classes 43.1 and 43.2 when there is an addition in the year. When opening a client file prepared with a prior version of Corporate Taxprep, if one of those two codes was entered on line 301, Type of asset code, it will be replaced by code 09, Geothermal energy equipment.
Schedule 8 WORKCHART ADD – Additions and Dispositions Workchart (Jump Code: 8 WORKCHART ADD)
For property in CCA classes 12 and 15 acquired after November 20, 2018, the answer to the custom question Is the property an accelerated investment incentive property, as defined under subsection 1104(4) ITR? will be “Yes.”
The “Information relating to zero-emission vehicles” section has been added to allow you to identify zero-emission passenger vehicles included in class 54, and to calculate the capital cost eligible for CCA in the year of acquisition (taking into account the limit of $55,000 plus sales taxes) as well as the proceeds of disposition applicable in the year of disposition of the property in the “Addition and disposition of a zero-emission passenger vehicle” subsection.
Schedule 9 WORKCHART – Related and Associated Corporations Workchart (Jump Code: 9 WORKCHART)
For copy 2 and subsequent copies of this schedule, the questions Is the corporation covered by sections 21.20.7 to 21.20.9 QTA (it is not associated with the filing corporation for purposes of the Québec tax return)? and If you answered “Yes” to the previous question, is the corporation related to the filing corporation? were added under the Relationship code line in the “General information – Related and associated corporations” section. These questions can be seen only when the filing corporation has a permanent establishment in Québec.
When you answer “Yes” to the question Is the corporation covered by sections 21.20.7 to 21.20.9 QTA (it is not associated with the filing corporation for purposes of the Québec tax return)?, the corporation is not considered to be associated with the filing corporation for purposes of the Québec tax return. It is therefore no longer taken into account in the calculations involving all the corporations associated with the filing corporation, and the information relating to this corporation is no longer displayed in the tables of the Québec forms showing the associated corporations. However, the corporation is still considered associated with the filing corporation for the federal and for all other provincial calculations.
Finally, when you answer “Yes” to the question If you answered “Yes” to the previous question, is the corporation related to the filing corporation?, the information relating to this corporation is displayed in Form CO-17S.9 (Jump Code: Q9), and the code indicated in the Relationship code column of this form will be “4” to reflect the fact that this corporation is related but not associated with the reporting corporation for purposes of the Québec tax return.
Schedule 13 – Continuity of Reserves (Jump Code: 13)
The new custom check box in column A of Part 1 is used to indicate reserves for capital gains arising from the disposition of a property other than an active asset (as defined under subsection 125(7) ITA). When the check box is selected, the difference between the balance at the start of the year and the balance at the end of the year is added to line 1.2 of column C, Adjusted aggregate investment income in Part 3A of Schedule 7 (Jump Code: 7).
Schedule 17 – Credit Union Deductions (Jump Code: 17)*
Part 4, “Manitoba,” has been added to allow you to calculate the amount eligible for the additional deduction for credit Union in Manitoba for the period after December 31, 2018. The “Complete this portion if the corporation has a permanent establishment in Manitoba and its taxation year ends after December 31, 2018” subsection, which was located in Part 3, has therefore been moved to the end of the new Part 4. Lines AA, BB, CC and GG of this subsection have been renumbered and now correspond to lines 702, 752, 4G and 802 respectively. In addition, for a corporation that has a permanent establishment in Manitoba and does not have a permanent establishment in Ontario or British Columbia, Parts 2 and 3 should now be completed only if the taxation year started before January 1, 2019.
Finally, former lines 625, 2D, 2E, 650, 3C, 3D and 3K have been removed from this schedule, because they are obsolete. When opening a client file prepared with a prior version or Corporate Taxprep, the amounts entered on these lines will not be retained.
Schedule 20 – Part XIV - Additional Tax on Non-Resident Corporations (Jump Code: 20)*
Line 202, Cumulative eligible capital immediately after the end of the year, for each business carried on in Canada, multiplied by 4/3 of Part 5 has been removed from the form.
When opening a client file prepared with a prior version of Corporate Taxprep, if the value on line 202 was an overridden value, it will not be retained.
AgriStability and AgriInvest Programs (Jump Code: AGRI/HAGRI) – Prince Edward Island*
The following changes have been made to Form Statement A, Statement of Farming Activities for Corporations:
- In the “Summary of income and expenses” section, lines 9940, a, b, 9934 and 9974 have been removed.
- In the “Shareholder Information” section, the lines Number of members in co-operative and Total number of outstanding common shares (voting and non-voting) and the Number of Common Shares per Shareholder column have been removed. In addition, the AgriStability/AgriInvest PIN column has been added to the Name of Shareholder table.
- In the “Partnership Information” section, the line CRA Partnership number has been added.
When opening a client file prepared with a prior version of Corporate Taxprep, the amounts that had been entered on the deleted lines will not be retained.
In Form Supplemental Forms Participants From 2017, the lines Large Square Bales Silage and Large Square Straw Bales have been added to the table of Schedule 2b, Crop Production and Inventory Record.
Schedule 31 – Investment Tax Credit – Corporations (Jump Code: 31)
In its budget tabled on March 19, 2019, the federal Government announced that the SR&ED expenditure limit is no longer phased out when:
- the taxable income of the corporation for the previous taxation year is between $500,000 and $800,000;
- the taxation year of the corporation ends after March 18, 2019.
Therefore, the calculation of the amount on line B2 in Part 10 has been modified to no longer take into account the taxable income of the corporation for the previous taxation year in this situation.
Schedule 43 – Calculation of Parts IV.1 and VI.1 Taxes (Jump Code: 43)*
Changes have been made to Part 4: lines 370, 380, 390 and 400 have been added, and custom line II.1, Part of the amount on line 360 attributable to taxable dividends received from unconnected corporations, has been removed.
When opening a client file prepared with a prior version of Corporate Taxprep, the amount on line 350 will be retained on line 350. If the rate on line 360 is not an overridden value, the amount on line 350 will also be updated to line 390. If the rate on line 360 was overridden, a diagnostic will prompt you to allocate the amount of dividends between lines 370 and 390. In addition, if an amount was entered on line II.1 and the amount was different from the amount on line 360, it will be retained on line 4B.
Schedule 47 (T1131) − Canadian Film or Video Production Tax Credit (Jump Code: 1131)*
Lines 305 and 306, which were used to enter the range of CAVCO certificate numbers for a series of episodes for which the certificates were issued before April 1, 2010, have been removed from the schedule. When opening a client file prepared with a prior version of Corporate Taxprep, the data entered on these lines will not be retained.
Schedule 48 (T1177) − Film or Video Production Services Tax Credit (Jump Code: 1177)*
Lines 305 and 306, which were used to enter the range of CAVCO certificate numbers for a series of episodes for which the certificates were issued before April 1, 2010, have been removed from the schedule. When opening a client file prepared with a prior version of Corporate Taxprep, the data entered on these lines will not be retained.
Schedule 49 – Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit (Jump Code: 49)
In its budget tabled on March 19, 2019, the federal Government announced that the SR&ED expenditure limit is no longer phased out when:
- the taxable income of the corporation and its associated corporations for the previous taxation year is between $500,000 and $800,000;
- the taxation year of the corporation ends after March 18, 2019.
Therefore, the calculation of the amounts in column 4B and the amount on line 3 of the “Calculation of expenditure limit” section has been modified to no longer take into account the taxable income of the corporation and its associated corporations for the previous taxation year in this situation.
Schedule 89 – Request for Capital Dividend Account Balance Verification (Jump Code: 89)
In Part 2, the last line of the table in Section B, which related to dispositions of eligible capital property in the current year and before January 1, 2017, has been removed. Therefore, lines L and M in Part 4 have been removed. When opening a client file prepared with a prior version of Corporate Taxprep, any data entered on the deleted lines will not be retained.
T2054 – Election for a Capital Dividend Under Subsection 83(2) (Jump Code: 2054)*
The question Is the corporation making an election under subsection 14(1.01) or 14(1.02)? has been removed from Part 2, because this election is no longer in effect for the 2017 and subsequent taxation years.
RC366 – Direct Deposit Request for Businesses (Jump Code: RC366)
The following changes have been made to the list of financial institutions provided in the “New Institution No.” and “Old Institution No.” fields in Part B of the form.
Items added to the list:
354 - Jameson Bank
374 - Motus Bank
381 - Haventree Bank
382 - Coast Capital Savings Federal Credit Union
560 - AGF Trust Company
592 - Royal Bank Mortgage Corporation
620 - ResMor Trust Company
630 - Household Trust Company
821 - Credit Unions in Nova Scotia
831 - Credit Unions in New Brunswick
851 - Credit Unions in Ontario
Items removed from the list:
380 - Mega International Commercial Bank (Canada)
806 - Duca Financial Services Credit Union LTD
836 - La Caisse Populaire de Kapuskasing
Items modified in the list:
- Code “269 - Mega International Commercial Bank Co., Ltd.” has been replaced with code “269 - Mega International Commercial Bank (Canada).”
- Code “275 - Korea Exchange Bank of Canada” has been replaced with code “275 - KEB Hana Bank Canada.”
- Code “358 - HomEquity Bank” has been replaced with code “358 - HomeEquity Bank.”
- Code “807 - Communication Technologies Credit Union Limited” has been replaced with code “807 - Comtech Firecredit Union Limited.”
RC4649 – Country-by-Country Report (Jump Code: RC4649)*
Inducement – Inducement Calculation Workchart (Jump Code: INDUCEMENT)
The fields “Innovation equity tax credit” and “Nova Scotia venture capital tax credit” have been added to the “Tax credits whose amount should be added to income” section.
The field “Labour tax credit for qualifying journalism organizations” has been added to the “Federal” subsection in the “Tax credits whose amount should be added to income” section.
The field “Tax credit for SMBs to foster the retention of experienced workers” has been added to the “Québec” subsection in the “Tax credits whose amount should be added to income” section.
In addition, the field “Yukon government carbon price rebate” has been added to the “Tax credits whose amount should reduce the capital cost of property” section.
Instalment – Federal Tax Instalments (Jump Code: IFED)
The line Labour tax credit for qualifying journalism organizations has been added to the “Estimated current year credits” section to take this tax credit into account in the instalment base calculation.
Québec
CO-17 – Corporation Income Tax Return (Jump Code: QJ)
The question Was the corporation inactive during the taxation year (for capital tax exemption)?, which was under line 18, has been removed.
As per Revenu Québec’s requirements, the answer to the question on line 25, Is the corporation a corporation other than a CCPC? will now be “Yes” when the filing corporation elected not to be a CCPC under subsection 89(11) ITA.
Q1 L70A – Taxable Tax Credits (Jump Code: L70A) and Q1 L140A – Non-Taxable Tax Credits (Jump Code: L140A)
As a result of the Québec Budget tabled on March 21, 2019, the following credit code has been added to the form:
- 107, Tax credit for SMBs to foster the retention of experienced workers
QC L440P-Y – Additional Québec Credits (Jump Code: L440P)
In its 2019-2020 Budget, tabled on March 31, 2019, the Québec Government announced the introduction of a refundable tax credit for SMBs fostering the retention of experienced workers. Therefore, code 107 has been added to the form.
CO-17.A.1 – Net Income for Income Tax Purposes (Jump Code: Q1)
Amounts can no longer be entered on line 110 in the Current year column, because this line should no longer be used as a result of the removal of Form CO-130.B (Jump Code: Q10). In addition, the line Income inclusions under 13(38)(d)(iii) ITA – Incorporeal capital property (form CO-130.B) in the “Additional list” section has been removed. When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on one of these lines, it will not be retained.
CO-771.1.3 – Associated Corporations’ Agreement Respecting the Allocation of the Business Limit (Jump Code: 77113)
As per Revenu Québec’s requirements, this form should not be filed when the filing corporation elected under subsection 89(11) ITA not to be a CCPC. In that case, the form will be completed, but will not be applicable.
CO-1029.8.36.FO – Employee Training Tax Credit for Small and Medium-sized Businesses (Jump Code: 1029836FO)
The fields in Part 3 are now protected fields. When opening a client file prepared with a prior version of Corporate Taxprep, if a value had been entered in a field in Part 3 using an override, it will not be retained.
CO-1029.8.36.IN, Tax Credit for Investment (Jump Code: 1029836IN)
In accordance with Revenu Québec’s guidelines, the amounts on line 35d of Section 5.1.2 and line 35s of Section 5.1.5, if the latter is applicable, are only calculated when the corporation’s paid-up capital calculated on a consolidated basis or the joint venture is more than $250 million and less than $500 million. This amount displays in the Paid-up capital used to calculate the tax credit for investment (CO-1029.8.36.IN) column of the Québec table under the “Summary – taxable capital” section of Form Summary (Jump Code: SUM).
In addition, the rates on lines 32 and 33 of Section 5.1.1, line 35p of Section 5.1.4 and line 36d of Section 5.2 are only calculated when the relevant section is applicable.
Finally, lines 78a and 79 of Section 8.3 of the form are calculated when the corporation’s paid-up capital calculated on a consolidated basis on line 78 is more than $250 million and less than $500 million.
CO-1029.8.36.PM – Tax Credit for Corporations Specialized in the Production of Multimedia Titles (Jump Code: 1029836PM)*
The check boxes 07, 08 and 09, which were used to indicate the period during which the qualified labour expenditures were incurred, have been removed. This form, which previously was a multiple copy form, is now a single copy form. When opening a client file prepared with a prior version of Corporate Taxprep, only the first copy in which box 09 was selected will be retained.
CO-1029.8.36.XM Tax Credit for the Production of Multimedia Events or Environments Presented Outside Québec (Jump Code: 1029836XM)
Check boxes 15 and 16 relating to an application for an advance ruling or a qualification certificate filed in a pre-2017 period have been removed from the f
orm. In addition, custom check box AA has been replaced by check box 18.
British Columbia
Schedule 422 (T1196) – British Columbia Film and Television Tax Credit (Jump Code: 1196)*
Lines 3A to 3G in Part 3 and lines 8A and 610 in Part 8 have been removed from the schedule, because these lines related to productions that started principal photography before January 1, 2012. When opening a client file prepared with a prior version of Corporate Taxprep, the amounts indicated on these lines will not be retained.
It is no longer possible to enter a negative value in the rate fields used in the calculation of the tax credit in Parts 8, 10, 11 and 12. When opening a client file prepared with a prior version of Corporate Taxprep, if a negative rate had been entered in one of these fields, it will not be retained.
Schedule 427 – British Columbia Corporation Tax Calculation (Jump Code: 427)*
Schedule 429 – British Columbia Interactive Digital Media Tax Credit (Jump Code: 429)
It is no longer possible to enter a negative value in the tax credit rate field in Part 5. When opening a client file prepared with a prior version of Corporate Taxprep, if a negative rate had been entered in this field, it will not be retained.
FIN 146 – Authorization or Cancellation of a Representative (Jump Code: FIN146)*
Alberta
AT1 – Alberta Corporate Income Tax Return (Jump Code: AJ)*
Lines 083, Alberta Royalty Tax Credit, and 084, Alberta Royalty Tax Credit Instalments claimed/processed, have been removed from this schedule. In addition, lines 085, Interactive Digital Media Tax Credit (IDMTC) and 110, Tax Certificate Number have been added. When opening a client file prepared with a prior version of Corporate Taxprep, the amounts that were entered on lines 083 and 084 will not be retained.
AT100 – Preparing and Filing the Alberta Corporate Income Tax Return (Jump Code: A100)
As a result of the removal of lines 083, Alberta Royalty Tax Credit, and 084, Alberta Royalty Tax Credit Instalments claimed/processed, in Schedule AT1 (Jump Code: AJ), the answer to the statement relating to check box 4, It is not claiming the Alberta Royalty Tax Credit nor has it received Royalty Tax Credit instalments for the taxation year, is defaulted to “Yes.” Therefore, you should verify if an adjustment is required.
When an amount is entered on lines 085, 086 or 087 of the AT1 return, the answer to the statement on line 9 will default to “No.”
Saskatchewan
Schedule 404 – Saskatchewan Manufacturing and Processing Profits Tax Reduction (Jump Code: 404)
Part 1 has been split into two subsections to perform the calculations before January 1, 2018, and after December 31, 2017.
Schedule 411 – Saskatchewan Corporation Tax Calculation (Jump Code: 411)*
The parts, lines and calculations relating to taxation years ending before January 1, 2017, have been removed from the form.
When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on one of those lines, it will not be retained.
In addition, a line has been added to the “Period after December 31, 2017” subsection of Part 1 to take into account the phasing out of the credit unions deduction. This deduction is decreased to 25% for days in the taxation year included in the 2019 calendar year. Therefore, line G2 has been modified, and lines 5 to 9 of Part 2, have been renumbered from 7 to 11. The deduction will be abolished for days in the taxation year after 2019.
Manitoba
Schedule 381 – Manitoba Manufacturing Investment Tax Credit (Jump Code: 381)
In accordance with provisions of Bill 16 tabled by the Manitoba government, the rate used to calculate the refundable portion of this credit will decrease from 8% to 7% for qualified property acquired after June 30, 2019. The rate used to calculate the non-refundable portion of the tax credit remains at 1%. The total tax credit is therefore 8%, and the refundable portion of the tax credit, 7/8.
In view of this measure, custom lines 1a and 1b were added to Part 1. The capital cost of qualified property acquired in the tax year is allocated in Part 1 according to the acquisition date, i.e. depending on whether the property was acquired after April 11, 2017, and before July 1, 2019, or after June 30, 2019.
The amounts on these new lines will be used to calculate the non-refundable portion of the tax credit on line 121 of Part 2. The calculation on this line was split so that the non-refundable portions of the tax credit are calculated separately for property acquired after April 11, 2017, and before July 1, 2019, and for property acquired after June 30, 2019.
The calculation on line 148, which relates to the refundable portion of the tax credit, was also split so that the refundable portions of the tax credit are calculated separately for property acquired after April 11, 2017, and before July 1, 2019, and for property acquired after June 30, 2019. When opening a client file prepared with a prior version of Corporate Taxprep, the amount entered on line 148 will be retained on the new custom line Credit included in amount B earned after April 11, 2017, and before July 1, 2019.
Schedule 383 – Manitoba Corporation Tax Calculation (Jump Code: 383)*
As a result of the addition of Part 4 to Schedule 17 (Jump Code: 17), the “Period after December 31, 2018” subsection in Part 1 of Schedule 383 has been modified. Former lines 3, 4, F2, G2 and H2, which were located in this subsection, have been replaced by lines I2.1 and I2.2 to allow you to calculate the additional deduction for credit unions in Manitoba for the period after December 31, 2018. When opening a client file prepared with a prior version of Corporate Taxprep, the amounts entered on former lines 3, 4, F2, G2 and H2 will not be retained.
Schedule 384 – Manitoba Paid Work Experience Tax Credit (Jump Code: 384)
In Bill 16, which was tabled on March 8, 2019, the Government of Manitoba proposes to update the paid work experience tax credit provisions. In Parts 1, 2, 4, 5 and 6, a note was added to explain the calculation to be performed if the salary or wages were paid by more than one employer to the youth or student for the qualifying period of employment.
Schedule 389 – Manitoba Book Publishing Tax Credit (Jump Code: 389)*
Credit Unions and Caisses Populaires Tax Return (Jump Code: MB-CREDIT UNIONS)*
The information on the line TELEPHONE NO. now updates from the information on lines 956 or 959 of Form Identification (Jump Code: ID). When opening a client file prepared with a prior version of Corporate Taxprep, if the previously indicated telephone number is different from the ones entered in the Identification form, the telephone number will be retained as an overridden value. The lines BUSINESS NUMBER and FAX No. have been added at the top of the form. In addition, the presentation of the tax calculation has been modified.
New Brunswick
Schedule 366 - New Brunswick Corporation Tax Calculation (Jump Code: 366)*
Lines and calculations relating to taxation years ending before April 1, 2016, have been removed from Part 2 of the schedule. When opening a client file prepared with a prior version of Corporate Taxprep, if an amount was entered on one of these lines, it will not be retained.
In addition, in its March 19, 2019 Budget, the Government of New Brunswick announced that the reduction in the business limit related to the amount of passive investment income for taxation years starting after December 31, 2018, will not be applied in the calculation of the New Brunswick Small Business Deduction. As a result, the calculation on line D does not take the amount on line G of Schedule 200 (Jump Code: J) into account.
Prince Edward Island
Schedule 322 – Prince Edward Island Corporation Tax Calculation (Jump Code: 322)*
Guides
Updated Guides
AgriStability and AgriInvest
- 2018 AgriStability and AgriInvest Programs, Corporation/Co-operative and Special Individual Harmonized Guide
- RC4060, Farming Income and the AgriStability and AgriInvest Programs Guide
- Prince Edward Island – AgriStability Program Farming Income & Expense Guide
- Prince Edward Island – AgriStability Program Supplemental Forms - Participants from Last Year
Federal
- T4012, T2 Corporation - Income Tax Guide 2018
- T7B Corp., Corporation Instalment Guide 2019
Québec
- Guide CO-17.G, Guide de la déclaration de revenus pour les sociétés (available in French only)
- IN-109, Tax Assistance for Scientific Research and Experimental Development
Technical Information
Technical Changes
We are proud to present the many technical changes to the enhanced version of Corporate Taxprep. We are convinced that you will be pleased with these changes.
Enhancements to the user interface
The following enhancements have been made to the interface to refine the display of the many Corporate Taxprep views:
- A single toolbar: The Standard and Advanced toolbars have been merged into a single toolbar that is always displayed which content adjusts according to the view selected. This new toolbar also provides new buttons with a more intuitive design.
- Access to the views: The shortcut bar that was available on the left side of the main screen of Corporate Taxprep was replaced by the
button. When you click this button, a menu displays to allows you to select the desired view. - Zoom: The tool allowing you to resize the form is now available in the right corner of the status bar.
To know how to use this tool, consult the page Customize Form Display.
The selected zoom factor will apply only to the forms. The Xpress tool and the diagnostics pane possess options allowing you to apply a zoom factor different from the one set for the display of forms. - AutoText: To facilitate the entry of data, which is sometimes repetitive, a list of AutoText suggestions in alphabetical order now displays from an alphanumeric field for which such list exists. Start entering an alphanumerical value and, if a list displays, click the value that you want to insert in the cell.
- TaxprepConnect status bar: The TaxprepConnect a status bar has been modified. The Download
button allows you to download a corporation's data, while the 
icon allows you to display Form CONNECT, TaxprepConnect Download (Jump Code: CONNECT), to review the downloaded data. In addition, you can place the cursor of your mouse on the icon to display the date of the last download performed for the active client file. For more information on TaxprepConnect, consult the page How to Download Tax Data with TaxprepConnect .
Standardized presentation of information in the views
In addition to the Client Manager, Form Manager, EFILE Log view and EFILE Archives view, the following views are also presented in tables:
- Print Formats view
- Preparer Profiles view
- Filters and Diagnostics view
- Letters and Labels view
- Rate Tables view
- Advanced Network view (available with the Advance Network version)
Therefore, the functionalities available in these views to display, order and filter the information are identical. The following enhancements have been made to certain of the functionalities:
- the search is performed from the search box or by using the Ctrl+F shortcut. For more information on this topic, consult the page Search Through Views.
- the grouping area located at the top of the view is no longer displayed at all times. To group the content of a view according to a column, click the Group
button, and drag the column header to the grouping area displayed. To ungroup , click the Ungroup
button. - the
filters available on the column headers now provide more criteria to allow you to quickly find the information you are searching for. As a result, in the Values tab, you can enter the text you are searching for in the list to find the one that you want to use as a search criterion. A second tab is also available to allow you to use advanced filter functions. For more information, consult the page Filter Based on the Content of One Column.
As mentioned above, the Print Formats, Letters and Labels and Filters and Diagnostics views are now presented in tables. In addition to taking advantage of the functionalities listed above, this new way of presenting information provides you with a way to order templates per template types, i.e. predefined or customized. As a result, the customized templates are displayed first in the view as they are the most frequently used templates.
Information on client files in the Open dialog box
The information on the client file displayed in the Open dialog box have been modified. Only the name of the corporation and the business number are now displayed in the dialog box, and this information is located above the name of the file.
To quickly review the information on the client files such as the return status the taxation year end and the various EFILE statuses, use the Client Manager. The Client Data filter allows you to obtain this information at a glance.
Letter Editor: more editing tools available
The following have been enhanced in the Letter Editor used to define the content of letter templates. It also allows you to format and layout the letter.
- Tables: You can now add one or more tables in a letter template to display data on lines and in columns. For more information on tables, consult the page Add or delete a table.
- Review comments: You can now add comments to a letter template to enter any information, suggestion or question to be communicated to your colleagues responsible for updating or reviewing the letter template. For more information on review comments, consult the page Add, edit or delete comments.
- Formatting tools: For more information on the many tools provided in the Letter Editor consult the page About the Letter Editor.
Xpress and Diagnostics pane: easier-to-use tools
You can now float the Xpress tool panel or the diagnostics pane to move it. It can be moved to another screen to facilitate data entry in the main screen. To do so, in the toolbar, click the Xpress 
button or the Diagnostics
button, then click Float and move the panel to the other screen. Consult the video for a demonstration of the floating pane.
Options to resize the text, the zoom in 
and the zoom out 
have been added to the Xpress tool and the diagnostics pane. For more information on these options, consult the pages Customize the Xpress List Display and Customize Diagnostics Display.
In addition, as it is now possible to float the Xpress tool panel, the Browse toolbar has been removed from the Display/Toolbar menu.
Changes relating to diagnostics
As the information in the diagnostics pane is presented in a table, a grouping area located in the top portion of the pane, where you can group the content of the pane according to a column, is also available. To group content in the diagnostics pane according to a column (for example, the Type), click the Group button, then drag the column header to the displayed grouping area.
Diagnostics are ordered by group and each group is presented in a separate table. The name of the group as well as the number of diagnostics are indicated on tabs:
- The Take Action tab displays the diagnostics issued by Corporate Taxprep on which no action has yet been taken.
- The Reviewed tab displays the diagnostics that were reviewed during a first
or second 
revision. - The Ignored tab displays the diagnostics that were ignored during a first or second revision.
Precisions relating to diagnostics
- An annotated diagnostic with the or indicators which is resolved remains in the Reviewed tab; however, the colour of the indicators displayed in the Annotation column is modified (
or 
). - The diagnostic indicator for a tax cell
is no longer displayed when the diagnostics issued for that cell are annotated and no other diagnostic applies to this cell. Therefore, the diagnostic(s) display before the return is printed.
Help tools: easier to access
online help centre
Corporate Taxprep provides you with an online Help Centre containing tax and technical information pages that will answer your various questions and will help you efficiently use Corporate Taxprep. When you consult the Help, the relevant help topic will display in your computer's default Web browser.
At any time you can use the search box located in the top right corner of the page to obtain information on a specific topic.
In addition to providing regularly updated tax and technical information, the Help Centre contains support information (such as troubleshooting memos and frequently asked questions) and provides useful links to the CRA and Revenu Québec Web sites and certain help centres of software programs integrated with Corporate Taxprep.
Professional centre
The Professional Centre now displays in your computer's default Web browser. This allows you to consult the Professional Centre in another screen while continuing to work in Corporate Taxprep. Make sure that you enter your CCH services username and password in the options and settings of Corporate Taxprep to take advantage of the services available in the Professional Centre.
Folder location
The location of certain folders related to Corporate Taxprep that were in the CCH folder is now in the Wolters Kluwer folder. As a result, during installation, Corporate Taxprep will prompt you for a different location for the following:
- the Corporate Taxprep installation folder,
- the database and the transmission files,
- the templates, and
|
Notes:
|
Enhancements to the Advanced Network view (available in the Advanced Network version)
Like the Client Manager, the Form Manager and the various templates views, the Advanced Network view is now presented in a table. You can take advantage of the different functionalities available in those views to customize the display according to your requirements and perform searches.
The Advanced Network view is split into two portions that allow you to view, add, delete and define properties for the users and groups:
- The upper portion relates to user groups.
- The lower portion relates to users: by selecting a group in the upper portion of the view, the users associated with this group are displayed in this location.
For more information related to the Advanced Network version, consult the About the Advanced Network View topic.
Advanced settings
Development toolkit
The guide Taxprep Development Toolkit Instructions and Excel file Taxprep T2 Development Toolkit Demo are only available in the online Help Centre.
In addition, the following functions have been renamed:
- ITaxprepReturn becomes IT220YYvXTaxprepReturn
- ITaxprepCell becomes TaxprepT22019vXCell
- Object becomes Taxprep20YYvXT2Return
To review the guide or to download the Excel file, consult the Taxprep Development Toolkit.
Silent Installation
You can now install Corporate Taxprep silently using the Windows command prompt. For more information on the silent installation, consult the page Silent Installation.
Excel Add-in for Taxprep
A new version of the Excel Add-in for Taxprep is available. This new version is required to use the Excel Add-in for Taxprep with the enhanced version of Corporate Taxprep.
The installation of this new version requires that you uninstall the old version of the Excel Add-in for Taxprep. Uninstall is supported by the new Excel Add-in for Taxprep installation wizard.
For more information with regards to the Excel Add-in for Taxprep, consult the Excel Add-in for Taxprep topic.
Software integrations
other integrations
- Integration with the CCH Accountants' Suite: Integrations with the CCH Document On-Premise and CCH Portal programs are available with Corporate Taxprep.
- Integration with Taxprep Forms: The command Create a Taxprep Forms file, which allows you to create a Taxprep Forms client file including data from the Identification form, is currently not available in Corporate Taxprep. The integration will be available as soon as the enhanced version of Taxprep Forms is released.
Modifications in the options and settings
The Apply button has been removed from the Options and settings dialog box. You must now make your modifications in the different panels and click the OK button.
The option to select the paper orientation when printing labels has been removed from the Labels/Format panel.
Converting Templates
Converting Template Files
All templates (i.e. client letter templates, client filters, preparer profiles and print formats) created in a prior version must be converted to be used with Corporate Taxprep Classic 2019 v.1.0.
Templates can be converted using the Convert function which is available in each template view.
Corrected Calculations
Federal
- Capital Cost Allowance (CCA) Workchart – The calculation on line 5b of the Alberta column is not performed correctly
- Information and Income Tax Return for Non-Profit Corporations – Line 441b does not display the correct registration fee amount for taxation years ending after December 31, 2018
- Capital Cost Allowance (CCA) Workchart – Addition of CCA classes 54 and 55 for zero-emission vehicles acquired after March 18, 2019
- Schedules 31 and 49 – The taxable income is no longer included in the SR&ED expenditure limit calculation for CCPCs with a tax year ending after March 18, 2019
- Schedule 8 – Capital Cost Allowance (CCA) (Jump Code: 8) and AT1 Schedule 13 – Alberta Capital Cost Allowance (CCA) (Jump Code: A13) – No line relating to a CCA class displays or prints when opening a client file prepared with a prior version that is not recalculated with the current version
British Columbia
- Schedule 428 – British Columbia Training Tax Credit (Jump Code: 428) – Extension of the British Columbia training tax credit
Saskatchewan
- Schedule 411 – Saskatchewan Corporation Tax Calculation (Jump Code: 411) – The reduction rate of the credit unions deduction is incorrect for days in 2019
New Brunswick
Schedule 366 – New Brunswick Corporation Tax Calculation (Jump Code: 366) – The calculation on line D is incorrect when the corporation is subject to the business limit reduction based on passive investment income
Essential Program Information
Taxation Years Covered
Corporate Taxprep 2019 v.1.0 is designed to process corporate tax returns with taxation years beginning on or after January 1, 2017, and ending on or before October 31, 2019.
You must use the appropriate prior version of Corporate Taxprep to prepare returns relating to a taxation year that begins before that period. To obtain a list of prior Corporate Taxprep versions and corresponding taxation years, consult the “Version Coverage” topic.
Default Taxation Year
The default taxation year for a new client file is July 1, 2018, to June 30, 2019.
Specialized Information, Advanced Network and Corporation Internet Filing Modules
The modules Specialized Information (SI), Advanced Network and Corporation Internet Filing are options sold separately from the program.
Where to Find Help
If you have any questions regarding the installation or use of the program, there are several options for getting help. Access the Professional Centre for tips and useful information on how to use the program. If you are in the program and need help, press F1 to get help on a specific topic.
Videos available in the Professional Centre and on our Web site!
To learn more about Taxprep or to become familiar with the different features, consult the videos available in the Professional Centre or at www.taxprep.com.
To view a tutorial, access the "Tutorials" section in the Professional Centre, or visit the Taxprep Web site and, in the Support menu, select your product, then click the 2018 tax year. Videos are displayed under the Tutorials link. Simple as that!
Taxprep e-Bulletin
For your convenience, you are automatically subscribed to the enhanced edition of the Taxprep e-Bulletin, a free e-mail service that ensures you receive up-to-date information about the latest version of Personal Taxprep. If you want to review your subscription to Taxprep e-Bulletin, visit www.taxprep.com. In the Support menu, select Taxprep e-Bulletin. Click on My e-Bulletin in the “Taxprep e-Bulletin” section. You can also send an e-mail to cservice@wolterskluwer.com to indicate the products for which you wish to receive general information or information on our CCH software (Personal Taxprep, Corporate Taxprep, Taxprep for Trusts, Taxprep Forms or CCH Accountants’ Suite).
How to Reach Us
Customer Service:
cservice@wolterskluwer.com
Tax and Technical support:
csupport@wolterskluwer.com
Telephone
1-800-268-4522