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Randy, We Will Miss You
Randy Tebbutt 1964 – 2020. It is with great sadness we share with you that one of our own passed suddenly this week.
/news/randy-we-will-miss-you/
Updated: 2020-04-07
RESOLVED: Net Capital Loss on Québec CO-1012
TaxCycle incorrectly calculates the Net Capital Loss at line 10 (in column C) using the gross amount (100%) rather than the 50% inclusion rate.
RESOLVED: Incorrect calculation on the T4PS
We discovered that a calculation on the T4PS is incorrect. The gross-up percentage calculates at a rate of 16% rather than 15%.
Video Tax News: COVID-19 Updates and Resources
Our friends at Video Tax News have published a useful list of links to COVID-19 resources and updates specifically for accounting professionals.
CRA COVID-19 Temporary measure (already filed paper returns)
As of April 20, 2020 the Canada Revenu Agency (CRA) will allow the transmission of a return even if it has already been mailed to CRA on paper, as long as it has not yet been processed.
A new look for www.taxcycle.com
We've launched a new design for our website at www.taxcycle.com. We hope you like it!
RESOLVED: T1032, line 68040 (amount to transfer to spouse is overstated)
The calculation of line 68040 (transfer to spouse) on form T1032 (Joint Election to Split Pension Income) was not accounting for box 109.
RESOLVED: Transmission of CO-17 returns (error code 13965)
Known Issue. CO-17 error code 13965 due to incorrect service version number.
UPDATED: EFILE Error 92271
The Canada Revenue Agency (CRA) has investigated EFILE error 92271 and has determined a change made in early May cause certain returns that were previously accepted to now be rejected.
/news/updated-efile-error-92271/
Updated: 2020-06-01
Extended Filing Deadlines for Corporations and Trusts
The CRA, RQ and the Govt of Alberta have extended some filing deadlines for corporations and trusts to September 1, 2020.