The 2024 T1 planning version does not appear to apply the 2/3rd’s inclusion rate to gains. Is TaxCycle planning to add that feature soon? I’m doing tax planning for individuals and corp’s who have or will trigger gains in 2024.
Obviously, if it is in the program somewhere, please let me know how to access it.
We haven’t added the change to the inclusion rate anywhere in TaxCycle to date, given that no bill has been presented to Parliament as yet.
See our blog about T2: TaxCycle T2 and the New Capital Gains Inclusion Rate - TaxCycle
For other modules, we don’t intend to adjust anything until December/January depending on what CRA feeds us and allows us to include.
We didn’t adjust the T1 planner given the uncertainty, but that could be done fairly easily.
Actual to 250000 @ 50% + any exceeding 250000 at 2/3 would be the calc.
Will see about making that in the next release.