I know proforma’s for next year’s planning are not normally available until summer but since AMT has changed in 2024 and the looming June 25th deadline to realize capital gains is quickly approaching, a proforma for T1s and Trusts would be very helpful right now. I am trying to figure out how much capital gain I can realize without creating an AMT problem. @Elizabeth@Cameron is it possible to get proformas out before the June 25th deadline? I need it for a QDT in particular but would be helpful with T1s and T2 also.
Given the capital gains change to 2/3 is still not in a bill and we only hear rumours that a bill will be introduced before the House goes into the summer recess, we won’t be adding anything in our 2024 modules until we either get some concrete direction form CRA on how they will be supporting this or that the projected bill gets Royal Assent.
As for the AMT changes, they are in Bill C-69 which is being studied in Committee, passed second reading. Based on last year’s budget bill, we expect that the bill will make it to Royal Assent by the summer recess.
For T3, we have the 2024 module out already but we have not yet incorporated the AMT changes. Our intention is to update Schedule 12 with our guess of what CRA will change and have it in our next update, a date for which has yet to be determined.
As for T1, we will be working on it for our late June release.
The current version of the T1 planner in T1 2023 does incorporate the AMT changes. All you would need to do is manually handle the capital gains inclusion and deduction proposals.