Just wondering if there is a Taxcycle warning when filing a 2015 tax return for this? With optimizations turned on the pension split automatically calculated. The assessment comes back from CRA and the pension split has been disallowed on account of being late causing a tax bill with penalty and interest instead of refund. I know it is my error for not checking it closer but shouldn’t Taxcycle have a built in warning similiar to the CPP/EI overpayment when filing late.
I’m just transitioning from Profile to TaxCycle for the 2020 Tax Year, and have been using Profile since 2000 (wow, 20 yrs - that quite the dedication to a single software!!!).
Anyway, I just did some tests in Profile to see how it handled this scenario. Much like your discovery with TaxCycle, I discovered that Profile also doesn’t give any warning messages that the 2015 T1032 claim will be disallowed for being filed late. The T1032 is reported in the F9 warning list as a valid option to be addressed, and accepts the optimization when made.
So good catch as this is easy to miss, especially when we’re busy.