TaxCycle 13.1.52895.0—Download Only

This version of TaxCycle addresses recently reported customer concerns.

Release Highlights

• T1 Updates
• Forms Updates
• Customer Requests
• Resolved Issues

T1 Updates

Customer Request We have added a check box to the Investment Income and Carrying Charges worksheet for the Transfer of dividend income under subsection 82(3) where the transfer will result in the higher income spouse being able to claim a higher spousal amount.

By checking this box, you can transfer dividend income from a lower income spouse to the higher income spouse with just one click.

When the condition that the transfer would increase the spousal amount is met, and you check the box to initiate the transfer, the amounts will appear on the higher income spouse’s worksheet with the offset appearing on the lower income spouse’s worksheet.

Forms Updates

• Updated forms AUT01 and AUT01X to the latest version from the CRA.
• Added a note to the SERs worksheet to clarify that the Special Elections and Returns (SERs) service in the Forms module is currently only available for Corporations and Partnerships.
• Updated lines 517, 627, 537, 547, 557 and 567 on the T2059 to show a percentage instead of the total number as per SERs filing specifications.
• TaxCycle now only prints the T183SER and UHT-183 if the associated form is selected for electronic filing. You can override this by checking the box to Always print the T183SER / UHT-183 regardless of the electronic filing status on the SERs worksheet. 

Note: The printing update on the SERs worksheet above also applies to the T183SER in TaxCycle T2.

Customer Requests

• T1 2023—Aligned the instalment payments on the client letters (CLetter, JLetter) to the right.
• T1 2023—Rounded the total amounts for federal and Québec instalment payments in the client letter (CLetter, JLetter).
• Customer Reported T1 2023—Fixed an issue where the T185 paragraph about pre-authorized debit (PAD) did not appear in the client letters (CLetter, JLetter).

Resolved Issues

• RESOLVED: Incorrect Amount on line 160, Part 10 of T2 Schedule 63
• RESOLVED: Incorrect Amount in Box 25 in TaxCycle T3
• T1—Updated the calculations for T1 donations to address an inconsistency between the amount of donations actually claimed and the amount that appears as being claimed on the Donations worksheet. For returns that have already been completed or transmitted through EFILE, TaxCycle will display a review message indicating the return is affected by the issue and will allow you to activate the new calculations.
• Customer Reported T1—Fixed the signature anchor on the T1255.
• T1—Corrected the calculations at lines 2 and 17 on form TP-726.6 to include income or losses from TP1 line 136, as applicable.
• T2—Resolved an issue where TaxCycle placed a watermark on both the T2054 Current Year and T2054 Next Year if either form was filed using SERs. TaxCycle now only places the watermark on the version of the T2054 that was transmitted.
  The watermark will now only show on the version of the T2054 form that was transmitted.
• T3—Resolved an issue where an error occurred when exporting an invoice to QuickBooks®.
• Customer Reported T3—Fixed the signature field on the TP-646.
• Customer Reported T5013—Fixed an issue where the “Create a stub period return” icon in the Data menu was missing.
• Customer Reported TaxCycle Forms—Resolved a SERs filing error and updated line 340 on the T2054 to show a percentage instead of the total number.
• Customer Reported Print and PDF—Resolved an issue where the “Print Selected” button in the Print sidebar was greyed out.