TaxCycle 14.1.56274.0—T1 Planner for 2025

This release updates the T1 Planner worksheet for 2025.

To install this version immediately, download the full installer from our website or request a free trial. Once we enable the automatic updates 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

• Status of T1/TP1 Forms
• Resolved Issues

Status of T1/TP1 Forms

This release removes the Preview watermark from the following form:

• TP-766.34 Income Tax on Split Income

All other 2024 T1/TP1 forms were finalized in previous releases.

T1 Planner

We have updated the T1 Planner worksheet for 2025 to use the tax rates and amounts announced by the Canada Revenue Agency (CRA) or our estimates.

Resolved Issues

• T1 and T3—TaxCycle now allocates capital gains from asset sales on Schedule 3 according to the transaction date, rather than solely to Period 1.
• T1, T2, T3 and T5013—Corrected the CCA calculation to prevent a UCC adjustment for 2024 additions in class 43. The AIIP multiplier for class 43 additions must be zero in 2024 and 2025.
• Customer Reported T1—Improved the slip matching for Auto-fill my return (AFR) to address differences in the format of issuer names for slips filed through the updated CRA system this year.
• Customer Reported T1—For 2024 client and joint letters, added a condition to the Canada Dental Care Plan section to display text only if the summary shows prior year taxable income.
• Customer Reported T1—Updated 2023 and 2024 sample code in the Clients section of the *T1Code template to ensure dependant information displays correctly.
• Customer Reported Client Manager—Fixed an issue where the Client Manager would run a full list instead of searching for what you entered on the first search.