TaxCycle 14.0.54700.0—.NET 8 Update, Forms Rollover to 2024
This release updates TaxCycle to use .NET 8 and rolls over the TaxCycle Forms module to 2024.
To install this version immediately, download the full installer from our website or request a free trial. Once we enable the automatic update for this version, TaxCycle will prompt you to install it according to the priority set in your TaxCycle Options. (To deploy auto-update files from your network, see the Auto-Update Files page.)
Release Highlights
.NET 8 Upgrade
This release updates TaxCycle to use .NET 8, Microsoft’s latest version of .NET that offers long-term support (LTS). This upgrade allows TaxCycle to take advantage of the performance, connectivity, and security enhancements offered in this new version of .NET.
What you need to know:
- You do not need to preinstall .NET 8. The TaxCycle setup program will automatically install .NET 8 on your system when you update TaxCycle.
- Files created and saved with the new .NET 8 version of TaxCycle remain compatible with the previous .NET version of TaxCycle.
- TaxCycle’s auto-update will continue to work as before.
- To ensure a smooth transition, please update your Client Manager Server at the same time. This ensures searches and filters continue to work between TaxCycle and the server.
- You must also re-index the Client Manager after updating. We recommend manually re-indexing the Client Manager immediately after updating the Client Manager Server. See the Indexing and Monitored Folders help topic for more details.
This release rolls over the TaxCycle Forms module to 2024, allowing you to create a 2024 forms collection. Please note the following:
- You can carry forward 2023 TaxCycle Forms files and files from ProFile® and Taxprep®.
- You can create Forms files from other 2024 TaxCycle modules.
New and Updated Forms
- Added a new Payments worksheet.
- Updated the following forms to the latest version from the CRA:
- RC325, RC65 and RC66
- GST44, GST66 and GST74
- AUT01 and AUT01X
- T400A was updated to the 2023 version.
- Customer Reported Added a review message to line 375 on the UHT-2900 to help prevent transmission errors when filing for a corporation.
Accelerated Capital Cost Allowance (CCA)
On August 12, 2024, the Department of Finance announced draft legislation with additional details about accelerated capital cost allowance (CCA) for productivity-enhancing assets (CCA classes 44, 46 and 50). The legislation specified that additions made to these classes between April 15, 2024, and before 2024 are eligible for a 100% CCA claim. We revised CCA calculations in a previous TaxCycle release to reflect these changes. However, since the draft legislation has not yet been enacted, we have reversed these changes in this release. This applies to the T1, T2, T3 and T5013 2024 modules.
Template Updates
- Customer Request T1—Added a paragraph to the T1 2024 templates to address the requirement for electronic payment when the TP1 return has more than $10,000 owing. This affects the client, joint and deceased letters.
- Customer Request T1—Updated the text on the client letter (CLetter and JLetter) to specify the year for the T1 instalment payments.
- Customer Request T1—Added the Service Canada phone number to the GIS and OAS paragraphs in the client letter (CLetter and JLetter).
- T1—Added a new paragraph about the Canadian Dental Care Plan to the 2024 client and joint client letter.
- T1—Improved the wording of the RRSP paragraph on the 2024 client and joint client letter to clarify why a person cannot contribute the following year.
- Customer Request T1—Added new paragraphs about UHT and bare trusts to the 2024 client and joint client letters to confirm that there is no filing obligation.
- Customer Request T2—Removed a duplicate paragraph for the $10,000 requirement for payments from the client letter. Also removed the “starting in 2024” text.
- TaxCycle Forms—Updated the correspondence and email templates to use the new correspondence name fields on the Engagement worksheet. See the Preferred Names in Templates help topic to learn more.
Resolved Issues
