Release 2018.0.2

Module Content
Introduction Download the latest release of the ProFile, version 2018.0.2.

Microsoft C++ library automated updates:

ProFile users updating to version 2018.0.2 may be prompted to accept up to three Microsoft C++ libraries during the installation process. These C++ libraries allow users to run new and existing features and functions in ProFile.

When prompted by the Microsoft update window, ProFile users should accept or select the "repair" option to start the installation.

This is a one-time update only.

T3/TP-646 highlights include:
 
  • updated 2017 T3 module for 2018 dividend tax credit rates for RL16 slips
FX/Q highlights include:
 
  • updated 2018 dividend tax credit rates for RL slips

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

T3/TP-646 Updated 2017 T3 module for 2018 dividend tax credit rates for RL16 slips

Further to the 2018 Québec Budget, different rates apply to the tax credit for dividends received before and after March 27, 2018.

Revenu Québec has added four new codes to be entered in the additional boxes of the RL16 slip.

When dividends are entered on a T3 return ending in 2018, users must indicate the portion of the dividend received in each period by entering the amount under the appropriate code on the RL16Income worksheet:

RL-16:

C11 - Actual amount of eligible dividends (January 1 through March 27, 2018)

C12 - Actual amount of eligible dividends (March 28 through December 31, 2018)

C21 - Actual amount of ordinary dividends (January 1 through March 27, 2018)

C22 - Actual amount of ordinary dividends (March 28 through December 31, 2018)

Note: the amounts in C12 and C22 will calculate based on the total dividend minus the amounts entered in C11 and C22.
 
FX/Q Updated 2018 dividend tax credit rates for RL slips

Further to the 2018 Québec Budget, different rates apply to the tax credit for dividends received before and after March 27, 2018.

Revenu Québec has added four new codes to be entered in the additional boxes of the RL3, RL15 and RL25 slips.

When dividends are entered on any of these slips for 2018, users must indicate the portion of the dividend received in each period by entering the amount and the appropriate code in the additional boxes of the slip.

RL-3:

A11 - Actual amount of eligible dividends (January 1 through March 27, 2018)

A12 - Actual amount of eligible dividends (March 28 through December 31, 2018)

A21 - Actual amount of ordinary dividends (January 1 through March 27, 2018)

A22 - Actual amount of ordinary dividends (March 28 through December 31, 2018)

RL-15: 

6a1 - Actual amount of eligible dividends received (or deemed to have been received) from January 1 through March 27, 2018

6a2 - Actual amount of eligible dividends received (or deemed to have been received) after March 27, 2018

6b1 - Actual amount of ordinary dividends received (or deemed to have been received) from January 1 through March 27, 2018

6b2 - Actual amount of ordinary dividends received (or deemed to have been received) after March 27, 2018

Note: for RL15, the portion of the dividend received before and after March 27, 2018 will be allocated based on the amount entered in boxes 6a1, 6a2, 6b1, and 6b2 on the TP600 Worksheet.

RL-25: 

A11 - Actual amount of eligible dividends (January 1 through March 27, 2018)

A12 - Actual amount of eligible dividends (March 28 through December 31, 2018)

A21 - Actual amount of ordinary dividends (January 1 through March 27, 2018)

A22 - Actual amount of ordinary dividends (March 28 through December 31, 2018)

Note: slip filing in the FX/Q module for 2018 is disabled. Users that presently wish to file 2018 slips should use the previous module and manually override the year to “2018”. Slip filing in the FX/Q module for 2018 will be enabled in a future release, once 2018 slips are updated.

Minor form updates
 
  • T2062A
  • T2062A
  • NR5
  • RC7066
  • RC4616
  • PD24
  • GST74
  • GST70
  • GST525
  • GST523.1
  • GST44
  • GST20
  • GST191
  • GST189
  • GST145
  • CPT30
  • GST146
  • T400A

 


Release 2018.0.0

Module Content
Introduction Download the latest release of the ProFile, version 2018.0.0.

T1/TP1 highlights include:

This is the first ProFile T1/TP1 release for the 2018 taxation year.

At this time, forms are not released by CRA for the 2018 taxation year; in-product forms include a “DRAFT” watermark indicating that the form is not approved for use.

Note: ProFile recommends that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients.

T2 highlights include:
 
  • updated forms
  • 2017 TaxPrep/CanTax/DTMax carry forward to ProFile
FX/Q highlights include:
 
  • new 2018 module
  • updated forms
  • 2017 TaxPrep/CanTax FormMaster carry forward to ProFile
Systems highlights include:
 
  • support of 2018 T1 module for Hub

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 This is the first ProFile T1/TP1 release for the 2018 taxation year.

At this time, forms are not released by CRA for the 2018 taxation year; in-product forms include a “DRAFT” watermark indicating that the form is not approved for use.

Note: ProFile recommends that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients.

Carry Forward Previews

ProFile carry forward can be attempted in preparation for the upcoming personal tax season.

However, ProFile suggests that users wait until the fileable release of the 2018 ProFile T1 module before carrying forward the majority of files. The first filing release typically has additional changes ensuring the smoothest and most-complete carry forward process for the previous year's files.

Setting Carry Forward Options

  1. Select the Module… option under the Options drop-down menu in the top toolbar.

  2. Select the year.

  3. Click on the General tab.

  4. Navigate to the Carry forward files section of the General tab.

  5. Configure the preferences to apply to carrying forward previous year client files.

  6. Click the OK button.

2017-2018 ProFile to ProFile carry forward preview (T1)

This early version of the ProFile T1 module carries forward information from 2017 ProFile returns to create new 2018 ProFile returns, for preview purposes only.

To carry forward a single 2017 tax return, right-click on the file and choose the Carry forward option.

2017-2018 TaxPrep to ProFile carry forward preview (T1)

This version of the ProFile T1 module carries forward information from 2017 TaxPrep T1 returns to create new 2018 ProFile returns, for preview purposes only.

To carry forward a TaxPrep T1 file, select the Carry Forward… option under the File menu and set the Files of type: option to 2017 TaxPrep™ T1 (*.117). Alternatively, drag-and-drop a TaxPrep (*.117) file into a ProFile T1 file.

TaxPrep versions supported include 2017.v1.0, 2017.v2.0, 2017.v3.0, 2017.v4.0, and 2017.v5.0.

2017-2018 Cantax to ProFile carry forward preview (T1)

This version of the ProFile T1 and T3 modules carries forward information from 2017 Cantax T1 returns to create new 2018 ProFile returns, for preview purposes only.

To carryforward a Cantax T1 file, select the Carry Forward… option under the File menu and set the Files of type: option to  2017 Cantax T1 (*.P17) or drag-and-drop a Cantax (*.P17) file into a ProFile T1 file.

Supported Cantax versions include 17.1.303.100, 17.2.303.108, 17.3.303.112, 17.4.303.118, and 17.5.303.125

2017-2018 DTMax to ProFile carry forward preview (T1)

To carryforward a DTMax T1 file, select the DT Max Carry Forward… option under the File menu. Select the T1 option and the click the Next button. Designate a file location, select 2017 and designate the carry forward file location. Click the CARRY FORWARD button.
 
T2 Minor form updates:
 
  • Schedule 28
  • RC366
2017 Taxprep/Cantax/DTMax Carry Forward to ProFile

ProFile T2 now carries forward information from 2017 files created with Taxprep T2 (versions 2017 v.1.1, 2017 v.2, and 2018 v1.1), Cantax T2 (versions 18.1.307.100, 17.2.309.126, 17.2.306.126, and 17.2.307.126), and DTMax T2 (versions 2017 v.21.15 and 2018 v.21.30).
 
FX/Q Updated FX forms

RC199 - Voluntary Disclosures Program (VDP) Application:


The form is updated to reflect changes to the eligibility criteria to access the program and to impose additional conditions on applicants. New sections are added to the form for applicants to provide more details regarding GST/HST, Domestic income, Foreign income, and Non-Resident Information Returns.

Minor form updates:
 
  • RC366
  • RC4288
  • T100A
  • T100B
  • T100C
  • T1044
  • T1223
  • T1240
  • T1261
  • T2050
  • T2057
  • T2058
  • T3012A
  • T3D
  • T3RI
  • T400A
  • TD1 – PE
  • TD1 – BC
  • TD1 – NS
  • TP-1015.3
  • TP-518
  • TP-1097
Note: slip filing in FX 2018 is disabled. Those wishing to file 2018 slips now should use the previous module and manually override the year to “2018”. Slip filing in the 2018 module will be enabled in a future release, once the 2018 slips have been updated.

2017 ProFile/Taxprep Forms/Cantax FormMaster Carry Forward to ProFile

ProFile FX 2018 carries forward information from 2017 files created with ProFile FX 2017, Taxprep Forms 2017 v1, v2, v3, v4, v5, and Cantax FormMaster 2017 v1, v2, v3, v4, v5.
 
Systems Various updates
 
  • T2 print fixes
  • support of 2018 T1 module for Hub
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