Release 2018.3.0

Module Content
Introduction Download the latest release of the ProFile, version 2018.3.0.

T1/TP1 highlights include:
 
  • updated Auto-fill my Return (AFR) supporting tax years 2018, 2017,  2016, and 2015
  • 2018 version of  T1013 EFILE
  • T1 EFILE for tax years 2018, 2017, 2016, and 2015
  • T1 ReFILE for tax years 2018, 2017,  2016, and 2015
  • T1 Barcode and KFS
  • TP1 NETFILE for tax years 2018, 2017, and 2016
  • T1135 EFILE
  • T1PAD EFILE Pre-authorized debit (PAD)
  • Express Notice of Assessment (ENOA) for tax years 2018, 2017, and 2016
  • RC59/X EFILE new for tax year 2018 (review our full support article here for more information)

T3/TP-646 highlights include:
 
  • T3MJ paper filing

FX/Q highlights include:
 
  • Federal accelerated investment incentive allowance update
  • Québec accelerated investment incentive allowance update
  • new form certifications (T5013 and TP600)
  • form updates (T1135, T1235, T1236, T3010, T1 OVP, and TL11A)

Systems highlights include:
 
  • fixed ProFile 20 license issue
  • fixed ProFile 20 unused 2017 credits issue

About ProFile

To update ProFile, select the “Check for Updates” option from the “Online” drop-down menu in the top toolbar.

For a list of issues fixed in the current and recent releases, see “What was fixed in recent ProFile releases”.

For question, please call ProFile support at 1-800-452-9970 or visit www.profile.intuit.ca

T1/TP1 New Form

TP-1029.SA – Senior Assistance Tax credit


This tax credit is for individuals who resided in Québec and were at least 70 years of age on December 31, 2018, or on the date of their death in 2018. The credit can be split between both spouses when the family situation on December 31 is “with spouse” and both spouses are eligible for the credit.

The maximum tax credit is:
 
  • $400 for an eligible individual with a spouse on December 31 and whose spouse is also eligible for the tax credit;
  • $200 for an eligible individual with a spouse on December 31 if only the individual is eligible for the tax credit;
  • $200 for an individual without a spouse on December 31. The tax credit will be reducible by 5% of the family income that exceeds:
    • $36,600 for an individual with a spouse on December 31;
    • $22,500 $ for an individual without a spouse on December 31

Major update

T1206 – Tax on Split Income (TOSI)


Before 2018, the regulations relating to split income only applied to individuals under the age of 18. Commencing in 2018, these regulations extend to individuals aged 18 years or older and the income subject to the split is modified.

TOSI-adjusted net income (line 6 of Part 1) - define

Net income as adjusted for the split income is calculated in Part 1 of this form. The TOSI-adjusted net income is used to calculate the following amounts on various forms:

User-added image
 
In addition, TOSI-adjusted net income will be used in place of the net income for any individual claiming the following amounts :
 
  • Federal GST/HST credit and Canada child benefit
  • Child benefit for Alberta, New Brunswick, Newfoundland and Labrador, Nova Scotia, Northwest Territories, Nunavut, Ontario, and Yukon
  • Alberta climate leadership adjustment rebate
  • Alberta family employment tax credit
  • British Columbia early childhood tax benefit
  • British Columbia low-income climate action tax credit
  • New Brunswick harmonized sales tax credit
  • Newfoundland and Labrador income supplement
  • Nova Scotia affordable living tax credit
  • Ontario Trillium Benefit
  • Ontario senior homeowners' property tax grant
  • Prince Edward Island sales tax credit
  • Saskatchewan low-income tax credit
TOSI-adjusted taxable income (Part 2)

Certain federal, provincial, and territorial amounts claimable by you, or by another person in respect of you, are calculated using your taxable income. As an individual subject to TOSI the amount that you calculate at line 8A of this form must be added for the purpose of calculating these amounts:
 
  • if you are completing a federal Schedule 11, calculate line 8A and add it to the amount for line 4 of Schedule 11
  • with the exception of Ontario, if you are completing a provincial or territorial Schedule (S11), add the amount from line 31C of this form to Schedule (S11) at the line outlined in Column 10 of Chart C, for the applicable province or territory
  • if you have unused amounts that you are transferring to another person, they will use line 8A and line 31C
The following forms have been changed to add calculated TOSI-adjusted net income or TOSI-adjusted taxable income:
 
  • Schedule2 and Provincial S2
  • S11 and Provincial S11
  • Dependent form
Accelerated CCA calculations

In the 2018 Federal Fall Economic Statement, the federal Minister of Finance introduced the Accelerated Investment Incentive (AIIP). This measure allows Canadian businesses to write off a larger share of the cost of newly acquired depreciable assets (tangible and intangible) in the year the investment is made. Only assets acquired and available for use after November 20, 2018 may qualify as AIIP.

A new question “Addition qualifies as an Accelerated Investment Incentive Property (AIIP)” was added to the business statement Assets and CCA form (for example, T2125Assets). Once a user answers “yes” or “no” to the question and inputs an acquisition date, ProFile calculates the CCA for AIIP, for acquisitions after November 20, 2018, and Non-AIIP, for acquisitions on or prior to November 20, 2018.

Review our full support article here for more information.
T3/TP646 T3 MJ - T3 Provincial and Territorial Taxes for 2018 - Multiple Jurisdictions

T3MJ forms now use 2018 and effective tax rates in the calculation.

Accelerated CCA calculations

In the 2018 Federal Fall Economic Statement, the federal Minister of Finance introduced the Accelerated Investment Incentive (AIIP). This measure allows Canadian businesses to write off a larger share of the cost of newly acquired depreciable assets (tangible and intangible) in the year the investment is made. Only assets acquired and available for use after November 20, 2018 may qualify as AIIP.

A new question “Addition qualifies as an Accelerated Investment Incentive Property (AIIP)” was added to the business statement Assets and CCA form (for example, T2125Assets). Once a user answers “yes” or “no” to the question and inputs an acquisition date, ProFile calculates the CCA for AIIP, for acquisitions after November 20, 2018, and Non-AIIP, for acquisitions on or prior to November 20, 2018.

Review our full support article here for more information.
FX/Q New! Federal and Québec accelerated investment incentive allowances

The following forms now include the accelerated investment incentive allowance:
 
  • T5013S8
  • T5013SCH8Class
  • T5013SCHLease
  • TB600B
New form certifications
 
  • T5013 certification
  • TP600 certification
  • Updated forms
  • T1135
  • T1235
  • T1236
  • T3010
  • T1 OVP
  • TL11A
Systems ProFile 20 license issue fixed

Previously, customers could not activate two ProFile 20 licenses on the same computer.

This release allows customers to have two ProFile 20 licenses of different years activated on the same computer.

ProFile 20 unused 2017 credits issue fixed

Previously, customers could not use any unused 2017 ProFile 20 credits after a license expired.

This release allows customers to use the un-used credits of the previous and current years.
 
Coming Soon!
  • NetFile for TP1 Amended Return
  • RQ Data download
  • T3 2019 rate update
  • CO-17 certification
 

Release 2018.2.5

Module Content
Introduction Download the latest release of the ProFile, version 2018.2.5.

T1/TP1 highlights include:
 
  • RQ approval of TP1 paper filing
T2 highlights include:
 
  • updated capital cost allowance calculation reflecting Fall 2018 Federal budget
  • RQ approval of MR-69
T3/TP-646 highlights include:
 
  • electronic filing for Trust Income Tax and Information Returns (T3RET)
  • electronic filing of T3/NR4 slips
  • RQ approval of TP646 paper filing
  • RQ approval of RL16 paper and XML filing
FX/Q include:
 
  • form updates

About ProFile

To update ProFile, select the “Check for Updates” option from the “Online” drop-down menu in the top toolbar.

For a list of issues fixed in the current and recent releases, see “What was fixed in recent ProFile releases”.

For question, please call ProFile support at 1-800-452-9970 or visit www.profile.intuit.ca

T1/TP1 New Forms

TP-752.HA -  Home Buyers’ Tax Credit Home buyers’ tax credit


You may be entitled to this tax credit if you were resident in Québec on December 31, 2018 (or on the day in 2018 you ceased to be resident in Canada), and, in 2018, either:
 
  • you or your spouse bought a qualifying home for the first time and you intend to make it your principal residence; note that you are considered to have bought a home for the first time if neither you nor your spouse owned another housing unit in which you lived in 2018 or the previous four years, or
  • you bought a qualifying home and intend to make it the principal residence of someone related to you who has a disability. The residence must either:
    • be more accessible for the disabled person or set up to help the person be more mobile or functional, or
    • provide an environment better suited to the person’s personal needs and care.
The maximum tax credit is $750 for a qualifying home. You can split the amount between everyone who is eligible to claim the credit for the same qualifying home.

Other Major Updates

RL-3, 15, 16, and 25 slips

 
Following the March 27, 2018 Québec Budget, the tax credit rates for ordinary and eligible dividends have been modified.

Gross-up percentage

On January 1, 2018, the gross-up percentage for ordinary dividends went from 17% to 16%. See the instructions for line 128.

Rate of the dividend tax credit

On January 1, 2018, the rate of the dividend tax credit applicable to  the  actual amount of ordinary dividends went from 8.2485% (the rate for 2017) to:
 
  • 8.178% for the period from January 1 to March 27, 2018; and 
  • 7.2848% for the period from March 28 to December 31, 2018.

The rate of the tax credit applicable to the actual amount of eligible dividends went from 16.422% to 16.3668% for the period from March 28 to December 31, 2018.

Boxes have been added to each of these slips to allow you to indicate the amounts of ordinary and eligible dividends received before March 28, 2018, to correctly calculate the amount of the dividend tax credit on line 415 of the Québec TP1 return.

RL-26 slip – Capital régional et coopératif Desjardins

Box C and Box D are added for the capital stock of Capital régional et coopératif Desjardins exchange. This exchange will allow investors to benefit from a non-refundable tax credit corresponding to 10% of the value of the shares – up to a maximum of $15 000 – maximum non-refundable tax credit of $1 500 annually.

TP1  - Indexation of 2018 tax year

A number of other amounts have been increased, including the following:
 
  • the deduction for workers (line 201)
  • the basic personal amount (line 350)
  • the income thresholds at which certain tax credits are reduced
  • the amount for a person living alone (line 20 of Schedule B)
  • the age amount (line 22 of Schedule B)
  • the basic exemption for calculating the contribution to the health services fund (Schedule F)
TP1 Line 462 - Tax credit for volunteer respite services

The minimum number of hours of service you must provide to a caregiver has been reduced from 400 to 200.

TP1K- Premium Payable Under the Quebec prescription drug insurance

On July 1, 2018, the contribution rates for the Québec prescription drug insurance plan were decreased. Consequently, the maximum premium has been reduced from $667 to $616. The maximum premium for 2018 is therefore $641.50.

TP1OtherCredit/TP1 Line 391 – Tax Credit for Workers 63 or Older

The tax credit for workers 63 or older has been renamed Tax credit for experienced workers. The age of eligibility to the credit decreased from 63 to 61. The maximum tax credit is calculated based on the age of the taxpayer.

It is:
 
  • $450 if the taxpayer was 61 on December 31, 2018
  • $750 if the taxpayer was 62 on December 31, 2018
  • $1,050 if the taxpayer was 63 on December 31, 2018
  • $1,350 if the taxpayer was 64 on December 31, 2018
  • $1,650 if the taxpayer was 65 or older on December 31, 2018.
The maximum eligible employment income is also determined based on the age of the taxpayer. 

It is:
 
  • $3,000 if the taxpayer was 61 on December 31, 2018
  • $5,000 if the taxpayer was 62 on December 31, 2018
  • $7,000 if the taxpayer was 63 on December 31, 201
  • $9,000 if the taxpayer was 64 on December 31, 2018
  • $11,000 if the taxpayer was 65 or older on December 31, 2018.
In addition, the tax credit is reduced by 5% from the eligible employment income that exceeds $34,030, where applicable. However, this reduction is not applicable if the taxpayer was born before January 1, 1951, and the tax credit does not exceed $600.

TP1C – Tax credit for childcare expenses

The limits on certain expenses have been increased. The limit on childcare expenses for a child with a severe and prolonged impairment of mental or physical functions has been increased from $11,000 to $13,000, while the limit for a child born after December 31, 2011, has been increased from $9,000 to $9,500.

TP-1029.RV- RénoVert tax credit

The period of eligibility for the RénoVert tax credit has been extended to April 1, 2019. This applies to all recognized work, other than certain types of work related to water conservation and quality, which may entitle you to the new tax credit for the upgrading of residential wastewater treatment systems.

You may be entitled to this refundable tax credit if:
 
  • you were resident in Québec on December 31, 2018 (or on the day you ceased to reside in Canada in 2018)
  • you or your spouse had eco-friendly renovation work done on an eligible dwelling under a contract entered into with a qualified contractor after March 17, 2016, but before April 1, 2019 (generally speaking, an eligible dwelling is a dwelling you own in Québec that is your principal residence or, subject to certain conditions, a cottage); and
  • you are claiming the tax credit for qualified expenditures paid in 2018.
The tax credit can only be claimed for 2016 through 2019. It is equal to 20% of your qualified expenditures over $2,500. The maximum tax credit for 2016 through 2019 is $10,000 per eligible dwelling.

TP-1029.AE – Tax Credit for the Upgrading of Residential Waste Water Treatment Systems

Fields have been added in Part 4 of this form to indicate the amounts claimed in 2017 with respect to this credit.

TP-1029.RE – Tax Credit for the Restoration of a Secondary Residence

The post-disaster clean-up and preservation component has been removed from this form as it no longer applies. Only the repair component remains in effect and can be claimed in 2018. Fields were added in Part 6 of this form to indicate the amounts claimed in 2017 with respect to this credit.

TP1ChildAssist - Refundable Tax Credit for Child Assistance

Child assistance payments will now be named Family allowance. The Gouvernement du Québec made the announcement on 3 December 2018 while presenting it’s Update on Québec's Economic and Financial Situation.

As part of this update, the Québec Government announced an increase in the maximum amount of family benefits of $500 per year for the second and third children, with respect to the Child assistance payment component of the refundable tax credit for child assistance. Therefore, the maximum amount for purposes of calculating the child assistance payment will be increased from $1,235 to $1,735 for the second and third children of a family.

This increase will be applicable starting in January 2019 and retroactive payments will be made to families starting in April 2019.

TP726.7 Capital Gains Deduction on Qualified Property

The form is modified to reflect capital gain deduction limit change.

For gains arising from the disposition of qualified property in 2018, the cumulative deduction is $424,126. 
 
T2 Federal

Capital Cost Allowance

 
Schedule 8 has been updated to include the Accelerated Investment Incentive presented during the 2018 Federal Fall Economic Statement. This incentive will provide deduction up to three times the amount of tax depreciation that would otherwise apply.

Ontario

Schedule 500 – Ontario Corporation Tax Calculation


On November 15, 2018, Ontario's Minister of Finance presented the 2018 Ontario Economic Outlook and Fiscal Review. Ontario will not parallel the 2018 Federal budget measure that phases out the $500,000 small business deduction limit for CCPCs that earn between $50,000 and $150,000 of passive investment income in a taxation year, for taxation years beginning after 2018.

In Schedule 500, Ontario small business deduction calculation has been updated to reflect this change.

Alberta

AT1 – Alberta Corporate Income Tax Return


This form has been updated to include the new Interactive Digital Media Tax Credit. To be eligible for new this credit, claimants are required to complete an application with Alberta Economic Development and Trade (EDT).

Quebec

MR-69 – Authorization to Communication Information or Power of Attorney


The new RQ-certified version of MR-69 removed the revocation section and added new boxes for:
 
  • Box 37 - Source deductions of support payments
  • Box 38 - Mining tax return(s)
T3/TP646 T3Slip and NR4 slip XML Filing
 
  • T3 and NR4 slip XML filing release
T3RET XML filing

ProFile will assess the electronic filing (EFILE) restriction of a trust return and display whether it is eligible for XML filing on the T3EFILE worksheet. 

To EFILE the trust return, select the “Transmit T3 return…” option under the “EFILE” drop-down menu in the top toolbar.  T3RET and T3 slips XML filings require 2 separate transmission through ProFile. 

Internet file transfer is only available for 2018 and later years for forms T3 RET, T3 Trust Income Tax and Information Return, if a trust’s taxable income, total taxes payable, and refund or balance owing are 0.00.

The following is a list of criteria that would restrict a representative from using Internet file transfer to file a return:
 
  • the amount in fields 56, 84, or 94 is greater than 0.00
  • the return is for a tax year before 2018
  • the trust does not have a trust account number or cannot enter one in the electronic file
  • the trust is a specified investment flow-through (SIFT) trust (code 028)
  • for the related tax year, the trust is subject to deemed dispositions as detailed on Form T1055, Summary of Deemed Dispositions

The trust is reporting:  
 
  • gross-up amounts of dividends in field 49
  • reserves on Schedule T3SCH2, Reserves on Dispositions of Capital Property, or in field 1170 of Schedule T3SCH1, Dispositions of Capital Property
  • capital gains on gifts of certain capital property on Schedule T3SCH1A, Capital Gains on Gifts of Certain Capital Property
  • designations of taxable capital gains eligible for deduction on line 930 of T3SCH9 Income Allocations and Designations to Beneficiaries
  • the trust is subject to minimum tax and has a net adjusted taxable income for minimum tax (field 12270 of Schedule T3SCH12, Minimum Tax) that is greater than 0.00
  • the trust is filing Form RC199, Voluntary Disclosures Program (VDP) Taxpayer Agreement, or the taxpayer is making a request under the Voluntary Disclosures Program
  • the trust went bankrupt and is filing its pre- or post-bankruptcy return
  • the return is an amended tax return
TP646 Schedule B – Investment Income, Gross-Up of Dividends Not Designated and Adjustment of Investment Expenses (QSB)

Following the March 27, 2018 Québec Budget, the tax credit rates for ordinary and eligible dividends have been modified.

Gross-up percentage

On January 1, 2018, the gross-up percentage for ordinary dividends went from 17% to 16%. See the instructions for line 128. Rate of the dividend tax credit on January 1, 2018, the rate of the dividend tax credit applicable to the actual amount of ordinary dividends went from
8.2485% (the rate for 2017) to:
 
  • 8.178% for the period from January 1 to March 27, 2018; and 
  • 7.2848% for the period from March 28 to December 31, 2018.
The rate of the tax credit applicable to the actual amount of eligible dividends went from 16.422% to 16.3668% for the period from March 28 to December 31, 2018.

Lines for specifying eligible dividends before March 28 and after March 27th are added on Part 1 and Part 2.

RL16slip/Beneficiary/Allocation - ordinary and eligible dividends

Following the March 27, 2018 Québec Budget, the tax credit rates for ordinary and eligible dividends have been modified.

New code C11, C12, C21, and C22 are added.  You need to specify the amount allocated for the boxes in the allocation form.
FX/Q Form Updates
 
  • T101B
  • T101C
  • T101D
  • TP1097
  • T4PS
  • T737RCA
  • TP1015.3
  • TD1YT
  • TD1SK
  • TD1PE
  • TD1ON
  • TD1NU
  • TD1NT
  • TD1NS
  • TD1NL
  • TD1NB
  • TD1MB
  • TD1BC
  • TD1
  • LE-39.0.2
Coming Soon!
  • T1 Barcode and T1 condensed
  • 2018 T1 EFILE
  • 2018 T1013 EFILE and barcode
  • 2018 T1135 EFILE
  • 2018 TP1 NETFILE
  • 2018 AFR (auto-fill-my return) EFILE
  • T1PAD (pre-authorized debit) EFILE
  • RC59 EFILE for T1
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