With the Supreme Court ruling on March 25th in favour of the carbon tax, I’m wondering if we will still have this Climate Action Incentive tax credit next year? With this victory by the federal government, the 4 provinces who contested the federal gov’ts carbon tax plan will now have to concede. They will have no more reason to reimburse each citizen in these 4 provinces. So I’m predicting an end to this carbon tax credit.
I do not think the T5008 slip afr is considering the reported recipient code to let us know if there is a code two verses code 1
Another annoyance, when you complete the AFR the T5008 slips and T3 slips are in a different order that when I export them. The export is the preferred order since it follows the slips, why do you move them around. makes it harder to match.
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incorrect foriegn currency box 27 of T5 slip does not show yellow in slip summary if incorrect and no quick fix as well
T1ALossCB - Net Capital Loss carry back section should also consider if the prior year capital gains have been covered by previous capital losses. I have had a couple where it looks like I can make the claim on the form but we have already utilized losses prior to the year in question to bring the eligible capital losses for that particular year to zero. Therefore you need another line at the to showing capital loss carry forwards applied as well on roll forward
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The only issue with this is if the person moves into a CMA, the carryforward answer would now be wrong.
I also find that Doxcycle is a little clunky at times just not really sure how to correct. I do not understand why we cannot just post certain fields where they go rather than having a memo in Taxcycle saying we did not have enough information to post properly. how about add the ability to post properly
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I don’t post things from DoxCycle. I only use it to organize the slips and other information. I tried posting from DoxCycle when it first came out but stopped doing that because it was “clunky”. I can enter a donation name & amount in TaxCycle faster than I could post this from DoxCycle.
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I think this is what you are looking to do. Transfer a donation to the spouse and have each spouse claim their own donations?
Maybe alone in it but would love the ability to insert a field value in the file name when printing to PDF.
i.e. We typically print the Express NoA to PDF and can insert the date printed quite easily into the file name but would love to ability to use the date issued as it represents the file better. Such as: 2020 NoA - Client Name (2021.05.06). Maybe more complex but if could use the value of field {{CurrentClient.ExpressNOA[0].Identification.DateIssued}} would ensure no matter the date printed the name represented when it was issued.
In Chart 3 of the Motor Vehicle sheet, it would help if, when you TAB from field to field, the cursor moved down instead of to the right. The default makes no sense when entering the addition of a new vehicle.
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But you need to turn off optimizations to see that, it should be available regardless of the optimizations
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I would prefer both spouses option as well.
Appears to be an issue entering medical travel on the travel expense worksheet when being entered on the return that is not currently claiming the medical expense. the method on the line continued to disappear making zero claim. Once I flipped to the other spouse it worked fine.
Would be nice if we could create prior year year returns from the T2 module as well
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I’ve been keeping a list of updates that may or may not be useful throughout Tax Season. There may be some duplicates and I apologize for that in advance. Here it is!
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DOXCYCLE
- Medical
- We prepare unique DoxCycle files for each person in a family. When posting medical slips from DoxCyle could the software pull all the names associated with the TaxCycle file in the drop down?
- Can the default for the taxpayer name be the first name only?
- Medical travel
- Can you include a box to add travel grants to deduct from the calculation?
- Highlighter function
- Different colours that can be tied to the calculator
- Stamps
- A SIN stamp for the current file. When sending CRA a Last Will and Testament I stamp the SIN on each page and then print to PDF from DoxCycle. Would be nice if there was an automatic stamp for that and if it wasn’t so big.
- Medical
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TAXCYCLE
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Preseason tax letter
- More client information like mobile phone number
- A blurb suggesting that they inform us of any changes to this information
- Does the client agree to have the preparer register them for CRA Online Mail?
- Does the client agree to have the preparer receive a copy of the NOA?
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GST/HST Rebates
- When using the form GST370 , it would be nice if a notification came up on the Income form on the line for GST/HST rebates to query whether or not income from last year should be added
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T776
- When entering capital assets could we enter the whole amount and click 50/50 with spouse for the information to be transferred to their form as well
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Tuition Transfers from Children
- The back page of this form is the same. Can you create this form in TaxCycle automatically from Tuition slip information and S11? Auto-populate it and allow us to send for signature with TaxFolder?
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Preseason tax letter
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TAXFOLDER
- Click on the package sent and see the email that was sent as well as the forms
- Add the ability to have two or more executors sign documents
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They could then have it attach a review note reminding us that it was carried forward. I have a lot of clients in rural areas; some are within the CMA and some aren’t. It was a pain to have to look it all up again because I didn’t think to add a cfwd memo last year. Lesson learned this year.
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Ha ha…yes…this!!
The bankruptcy trustee filed 2019 and 2020. The new client needs to file 2016, 2017, and 2018 T1 returns and 2013-2019 GST returns. (All income from T5018s with NO expenses so he should have been on payroll. Didn’t even have liability insurance. 2019 no business earnings.) He has been an employee in an unrelated industry since 2019.
Anyway, I file the AuthRep and T1AuthRepBus to access the personal and GST accounts. When I check off 'Will not be filed" I get
I would like to see:
with only this for T1 EFILE
.
Since I filed the authorizations using the 2020 T1 return, I want to keep the ‘essentially’ blank return. However, the ‘Will not be filed’ is not true for AuthRep and T1AuthRepBus but does apply to T1 EFILE.
Please sync the lables to the actual events.
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I just downloaded the latest version from Auto-update…
Big kudos to TaxCycle for adding these useful features in the new release – T3 Summary, T5008 Summary and the new Tooltip Hover info on the T3 slips during AFMR
They each help to streamline our return preparation process when we have multiple T3’s and T5008’s.
Best tax software on the planet!
Very much appreciated – thank you!
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