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TaxCycle 14.0.55183.0—2024 Slips and Relevés Carryforward, T3010/TP-985.22 Ready for Filing

This version of TaxCycle is ready for filing T3010/TP-985.22 returns. It also allows you to carry forward 2024 slips returns from competitor software for planning and evaluation purposes. It is NOT a filing release for slips or relevés.

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

2024 Slips and Relevés Carryforward

As of this release, you can carry forward slips returns from competitor software. This is NOT a filing release for slips and relevés modules. Use these modules for planning and evaluation purposes only.

Slips filing opens on January 13, 2025. See the Canada Revenue Agency’s (CRA) “How to file” page for more information.

You will also need an account number and associated Web Access Code (WAC) to electronically file slips. Read the Slips Filing Web Access Code (WAC) help topic to learn more, or contact the CRA’s e-Services Helpdesk at 1-800-959-5525 to obtain or change your WAC while systems are closed.

TaxCycle T4

  • Adjusted the wording on boxes 38, 39 and 41 as they now reflect the security options deductions before June 25, 2024, for the changes related to the capital gains inclusion rate. 
  • Added new boxes 90, 91 and 92 for security options deductions and benefits on or after June 25, 2024, in the “Other information” field of the T4.
  • Added new box 94 for Indian (exempt income) - RPP contributions and box 95 for Indian (exempt income) - Union dues in the “Other information” field of the T4. Screen Capture: New T4 boxes
  • Added the RL-25 slip (Income from a Profit Sharing Plan), which appears when you create a T4PS for a Québec client. 
  • Updated RL-1, RL-2 and the RL-1 Summary to the 2024 versions
  • Updated T4A, T4PS, T4ARCA, T2200 and summaries to the latest versions.

TaxCycle T5

  • Revised box 18 for capital gains dividends after June 24, 2024. 
  • Added new box 34 for capital gains dividends before June 25, 2024.

TaxCycle NR4

  • Added new income codes 67 and 68 to boxes 14 and 24. Screen Capture: New income codes on the NR4
  • Updated NR4 forms to the latest version. 

TaxCycle RL (Québec Relevés)

  • Updated the RL-24 and RL-31 to the 2024 versions.

Minor Updates

The following slips modules received minor updates:

  • TaxCycle T5018
  • TaxCycle T2202

T3010/TP-985.22 Ready for Filing

The federal T3010, Registered Charity Information Return, and the Québec TP-985.22 are both ready for filing as of this release.

  • Removed the Disbursement Quota worksheet as TaxCycle now calculates these amounts on the T3010 Schedule 8 (bottom of the T3010) for all fiscal periods ending on or after December 31, 2023.
  • Added a “Summary of disbursement quota excesses” table to the bottom of the T3010. This table was formerly on the Disbursement Quota worksheet. Note that this table is “screen only” and will not print as part of the T3010 return. It is simply a tool to help you track carryforward amounts. Screen Capture: New table on the T3010

Minor Updates

The following forms received minor updates:

  • GST66
  • RC7066
  • AUT01 and AUT01X

Activate Your New License

If you have renewed your TaxCycle software license for the coming season, you must activate it to access to the new tax modules.

On the TaxCycle Start screen, click Activate a license to go to the Help screen. See Renewed TaxCycle? How to activate your new license to learn more.

Customer Requests

  • Customer Request Added an option to delete all blank slips when importing client data into TaxCycle, as requested in the latest Ask Us Anything webinar. 
2024-12-19
release notes slips T3010
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