Profile HelpIntuit2021 release notes for ProFile
by Intuit• Updated 1 year ago
| Module | Content |
| Introduction | Download the latest release of ProFile, version 2021.0.0. This is the first release of ProFile T1 and FX for the 2021 taxation year. Forms for the 2021 taxation year are not released by CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. Note: we recommend that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients. T1/TP1 highlights include: • Letter template T1 Return Information Request Letter is now available (New!) • 2020-21 ProFile to ProFile carry forward preview • 2020-21 Taxprep to ProFile carry forward preview • 2020-21 Cantax to ProFile carry forward preview • 2020-21 TaxCycle to ProFile carry forward preview • 2020-21 DTMax to ProFile carry forward preview T2 highlights include: • ProFile T2 now carries forward information from 2021 files created with Taxprep T2 (version 2021v1.0), Cantax T2 (version 21.1.307.100), TaxCycle, and DTMax (version 24.30) FX/Q highlights include: • new 2021 FX/Q module is now available • ProFile 2021 FX carries forward information from 2020 files created with ProFile 2020 FX, Taxprep Forms 2020 v1, v2, v3, v4, v5 and Cantax FormMaster 2020 v1, v2, v3, v4, v5 System highlights include: • defect fixes related to ProFile crashes, including access violations and EoLE errors |
| T1/TP1 | T1 Return Information Request Letter template (New!) The new letter template “T1 return information request letter” is available in the 2021 T1/TP1 module. This is a customized letter to request the required tax information for the 2021 tax year based on the tax information reported on the 2020 tax return. To view the customized letter, carry forward the T1 file from 2020 to 2021, and search the form “InfoRequest” in the 2021 file. The letter can be printed using the print icons or via the File -> Print menu option. To modify the default letter template, select Options -> Templates under the 2021 T1/TP1 tab. Select the letter template InfoRequest. 2020-21 ProFile to ProFile carry forward preview This early version of the ProFile T1 module carries forward information from 2020 ProFile returns to create new 2021 ProFile returns (for preview purposes only). To carry forward a single 2020 tax return, right-click the file and select the Carry forward option. 2020-21 Taxprep to ProFile carry forward preview This version of the ProFile T1 module carries forward information from 2020 Taxprep T1 returns to create new 2021 ProFile returns. To carry forward a Taxprep T1 file, select the option Carry forward from the File menu. Set Files of type as “2020 Taxprep T1 (.120)” or drag-and-drop a Taxprep file (.120) into a ProFile T1 file. Taxprep versions are supported up to 2020.v5.0. 2020-21 Cantax to ProFile carry forward preview This version of the ProFile T1 module carries forward information from 2020 Cantax T1 returns to create new 2021 ProFile returns. To carry forward a Cantax T1 file, select the option Carry forward from the File menu. Set Files of type as “2020 Cantax T1 (. P20)” or drag-and-drop a Cantax (. P20) file into a ProFile T1 file. Cantax versions are supported up to 20.5.303.121. 2020-21 DT Max to ProFile carry forward preview This version of the ProFile T1 module carries forward information from 2020 DT Max T1 returns to create new 2021 ProFile returns. DT Max versions are supported up to 2020 v24.30. 2020-21 TaxCycle to ProFile carry forward This version of the ProFile T1 module carries forward information from 2020 TaxCycle T1 returns to create new 2021 ProFile returns. |
| T2 | Taxprep, Cantax, TaxCycle, and DTMax to ProFile carry forward ProFile T2 now carries forward information from 2021 files created with Taxprep T2 (version 2021v1.0), Cantax T2 (version 21.1.307.100), TaxCycle, and DTMax (version 24.30). |
| FX/Q | New 2021 FX/Q module The new 2021 FX/Q module is now available. Note that the Quebec slip filing in 2021 FX/Q module is disabled. Those wishing to file the 2021 slips now should use the previous module and manually override the year to 2021. Slip filing in the 2021 module will be enabled in a future release once the 2021 slips have been updated. Carry forward from 2020 to 2021 ProFile 2021 FX carries forward information from 2020 files created with ProFile 2020 FX, Taxprep Forms 2020 v1, v2, v3, v4, v5 and Cantax FormMaster 2020 v1, v2, v3, v4, v5. Additional minor form updates • FIN146 • GST70 • GST159 • GST190 • GST190WS • GST191WS • ON100 • RC4288 • RC4616 • RC66 • T1261 • T2062 • T2062A • T3D • T400A • TX19 |
| Coming Soon! | • 2020-21 TurboTax to ProFile carry forward (T1) • 2021 form update (T2) |
| Module | Content |
| Introduction | Download the latest release of ProFile, version 2021.0.5. Forms for the 2021 taxation year are not released by CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients. Highlights include: • T1/TP1 barcode-related print changes to accommodate RQ mandates • data governance-related changes to handle PII customer information |
| Coming Soon! | • 2020-21 TurboTax to ProFile carry forward (T1) • 2021 form update (T2) |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.1.0. Forms for the 2021 taxation year are not released by CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients. T1/TP1 highlights include: • 2020 to 2021 TurboTax Desktop carry forward to ProFile T2 highlights include: • 2019-2022 T2 module is now available for fiscal years ending on or before May 31, 2022 • T2 paper and Internet filing is certified for Federal corporate tax returns • AT1 paper and Internet filing is certified for Alberta corporate tax returns System highlights include: • System enhancements • Discontinued 2008 tax year support for T1, T2, and FX modules |
| T1/TP1 | 2020-21 TurboTax Desktop to ProFile Carry Forward This version of the ProFile T1 module can carry forward information from 2020 TurboTax Desktop T1 returns to create new 2021 ProFile returns. |
| T2 | T2 and AT1 certifications The 2019-2022 T2 module is certified for Federal and Alberta corporate tax returns and allows for the preparation of returns for corporations with fiscal years ending on or before May 31, 2022. Federal T2 - Corporate Income Tax Return There is a new question “Did your client sign the T183 using an e-signature?” (Line 930) and the date and time when the T183 was signed using an e-signature (Lines 931 and 932) added on the return. The corresponding information can be entered under the “Filing”’ section of the “Info” form. There is a new line “Employer deduction for non-qualified securities” (Line 352) added to the Taxable income section. S1 - Net Income (Loss) for Income Tax Purposes Entries with “zero” values for Line 295, 296, 395 and 396 in T2 EFILE and paper return are now accepted. Visit the Report CEWS on your tax return CRA website for information on Canada Emergency Wage Subsidy (CEWS). S6 - Summary of Dispositions of Capital Property Capital gain subject to a 100% inclusion rate as per ITA 100(1) (Line 902) is now included in the calculation of the taxable capital gain. S16 - Patronage Dividend Deduction The Patronage Dividend deduction, which was set to expire in 2021, has been extended to 2026. S322(S5PE) - Prince Edward Island Corporate Tax Calculation The lower rate of Prince Edward Island (PEI) income tax is reduced to 1% effective January 1, 2022. This rate applies to taxable income earned in PEI that qualifies for the federal small business deduction. T2054 - Election for a Capital Dividend Under Subsection 83(2) Two new questions regarding the acquisition of control and corporate restructuring or reorganization (Lines 150 and 160) are now added under “Part 2 - Required information”. There is also a new Part 7 for shareholder information. Alberta AT1 - Alberta Corporate Income Tax Return There is a new question “Was this return prepared by a tax preparer for a fee?” (Line 095) and the preparer’s name or firm name (Line 096) added on the return. Alberta Manufacturing and Processing Profits Deduction (Line 071) and Alberta Political Contributions Tax Credit (Line 074) are removed from the AT1 return. AS29 - Alberta Innovation Employment Grant The taxable capital for the first preceding year from all associated corporation(s) is now added (line 265) in the Allocation of Maximum Expenditure Limit table. Additional Minor Form Updates • AS9 • AS12 • S3 • S4 • S7 • S8 • S17 • S31 • S54 • S89 • S91 • S384 • S388 • S570 • T183 Removed Forms • AS5 • AS5Tables • AS8 • AS14 • AS14Supp |
| Systems | • System enhancements • Discontinued 2008 tax year support for T1, T2, and FX modules |
| Coming Soon... | • 2021 T3 Module |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.2.0. Certain forms for the 2021 taxation year are not released by CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients. T1/TP1 highlights include: • First version of paper filing release for 2021 T1 • Batch carry forward now available T2 highlights include: • Foreign Reporting Requirements Management System (FRRMS) Submit electronic-documents service now available for T1134, T1135, and T106 (New!) T3/TP646 highlights include: • First version of paper filing release for 2021 T3 • Paper certified T3 trust income tax return • Paper certified T3 slip and summary • 2020-21 Taxprep to ProFile carry forward • T3 Module has been added to ProFile Hub (New!) FX/Q highlights include: • New interface for transmitting federal slips and T5013 slips/return • Updated federal slips and XML filing System highlights include: • Discontinued 2008 tax year support for T3 |
| T1/TP1 | Updated Forms - Federal T4A Slip For the tax year 2021, the T4A slip contains new input boxes: • Box 201 Repayment of COVID-19 financial assistance • Box 205 One-time payment for older seniors • Box 210 Postdoctoral Fellowship Income • Box 211 Canada Worker Lockdown Benefit (CWLB) T4E Slip For the tax year 2021, the T4E slip contains a new box to enter the amount of CERB repayments made during the year. The amount of the repayment, less any portion already deducted in 2020, will be deducted at Line 23210 of the T1 return. T1 Income Tax and Benefit Return For tax year 2021, the following lines have been added to the income tax return: Line 23210 - Federal COVID-19 benefits repayment An individual may claim a deduction on this line for a repayment made in 2021 of an overpayment of federal COVID-19 benefits received in 2020. Repayments of provincial or territorial COVID-19 benefits will continue to be deducted on line 23200 of the return. Line 47556 - Other refundable credits (specify) The following lines have been removed: Line 45110 - Climate Action Incentive The Climate Action Incentive will no longer be claimed as a refundable credit on the T1 return. Eligible taxpayers will automatically receive the benefit in quarterly payments beginning in July 2022. Schedule 6 - Canada Workers Benefit The Canada workers benefit rates and income thresholds have been updated for 2021. A new “secondary earner exemption” has also been introduced. For individuals with an eligible spouse or common-law partner, up to $14,000 of working income is excluded in the calculation of the couple’s adjusted net income for the purpose of the CWB phase-out. Updated Forms - Provincial Manitoba MB428 The maximum credit amount that can be claimed by an individual for the small business venture capital tax credit has increased. The new maximum on line 4 of Form T1256-1 and on line 60850 on the Form MB428 is $120,000. MB479 The calculation of the personal tax credit, education property tax credit, seniors' school tax rebate and the school tax credit for homeowners have changed effective for the 2021 and subsequent tax years. The following lines have been removed from the Form MB479: • 61220 School taxes assessed • 61271 Senior economic recovery credit for self • 61272 Senior economic recovery credit for spouse or common-law partner The following line has been added to the Form MB479: 61495 Eligible teaching supplies expenses The teaching expense tax credit is a refundable credit of 15% of up to $1,000 of eligible expenses. Newfoundland and Labrador NL479 The following line has been added to the Form NL479: 62000 Physical activity expenses The Physical activity tax credit allows a claim of up to $2,000 per family for the eligible fees paid for registration or membership for a prescribed program of physical activity for qualified family members. The total claim can be split between spouses or other eligible individuals. Ontario ON479 The following lines have been added to the Form ON479: 63055 Job training tax credit The job training tax credit is a refundable tax credit of up to $2,000 for eligible tuition and other fees paid for courses taken by an eligible individual in 2021. Only an individual who has a positive Canada training credit limit for the 2021 tax year is eligible for the tax credit. The maximum tax credit will be an amount up to, but not exceeding, the lesser of 50% of the amount allowed on line 32000 on the federal Schedule 11 and $2,000. 63105 Seniors’ home safety tax credit The Seniors’ home safety tax credit is a new refundable tax credit of 25% of up to $10,000 in eligible expenses made by or on behalf of an eligible individual for the year. The credit can be shared between more than one individual as long as the total of the eligible expenses does not exceed the $10,000 maximum. Enter eligible expenses on the new form ON(S12) Ontario Seniors’ Home Safety Tax Credit. Where the individuals are spouses or common-law partners who occupied separate principal residences for medical reasons or because of a breakdown in their relationship for at least 90 days on December 31 of the year, each spouse or common-law partner can claim up to $10,000 of eligible expenses. The following credits have been eliminated and removed from the Form ON479: 63255 Tax credits for self-employed individuals - Apprenticeships 63280 Apprenticeship training tax credit Prince Edward Island PE428 The following line has been added to the Form PE428: 58365 Children’s wellness tax credit The Children’s wellness tax credit is a non-refundable tax credit of up to $500 per qualifying child for families with children under age 18 for eligible activities related to their children’s well-being. Saskatchewan SK428 The following line has been added to the Form SK428: 58340 Home renovation expenses The above non-refundable tax credit is available for tax years 2021 and 2022 for eligible expenses incurred. The maximum allowable claim for tax year 2021 is $11,000. Enter eligible expenses on the new form SK(S12) Saskatchewan Home Renovation Tax Credit. Members of the same family household may share the eligible expenses up to the annual maximum allowable. SK479 The following line has been added to the Form SK479: 59800 Active families benefit Effective for 2021 and subsequent tax years, eligible individuals with no more than $60,000 of adjusted net family income can claim up to $150 per eligible child for the costs of participation in an eligible activity. If an eligible child is eligible for the disability tax credit, an additional $50 can be claimed. |
| T2 | Foreign Reporting Requirements Management System (FRRMS) Submit electronic documents service (New!) The new Foreign Reporting Requirements Management System (FRRMS) Submit electronic documents service is now available for the T1134, T1135 and T106 foreign reporting returns. Required supporting documents of T1134, T1135 and T106 returns can be submitted electronically to CRA through the new Submit electronic documents service in ProFile. Documents can be attached to the tax return at the time of tax return preparation, and/or after the T1134, T1135 and T106 return is electronically filed: 1. Select the Attach a Doc option from the EFILE drop-down menu. 2. Select the FRRMS Submit electronic documents (T106, T1134, T1135) option to upload the documents. There are two ways to submit electronic documents: At the same time as T1134, T1135, and T106 electronic filing Click Submit e-Documents to CRA on the T1134, T1135, T106 EFILE window to proceed with the electronic document submission. After the T1134, T1135, and T106 return has been electronically filed 1. Select the Attach a Doc option from the EFILE drop-down menu. 2. Select the FRRMS Submit electronic documents (T106, T1134, T1135) option to proceed with the electronic document submission. |
| T3/TP646 | Most-relevant rates published The most-relevant rates published by CRA are implemented in this release of T3/TP646 module. 2020-21 Taxprep to ProFile carry forward This version of the ProFile T3/TP646 module carries forward information from 2020 Taxprep T3 returns to create new 2021 ProFile returns. To carry forward a Taxprep T3 file: 1. Select the option Carry forward from the File drop-down menu. 2. Set Files of type as “2020 Taxprep T3 (*.320)” or drag-and-drop a Taxprep file (*.320) into a ProFile T3 file. Taxprep versions are supported up to 2021.v3.0. T3 Module added to ProFile Hub T3/TP646 returns prepared in the 2021 module can now be found in ProFile Hub. During your set up of Hub, you can now indicate the location of your returns. You can open the returns as well as update the filing status and add comments on files all within Hub. Filing status of RL16 and MR69 will also be visible through Hub in a future release. Requirement to indicate Individual or Other than individual Trustee It is now required to indicate on the Info form if the trustee is an Individual or Other than individual. T3M filing indicator You will now have to indicate on the top of the T3M form if you are want to file an Environmental Trust Income tax return. T3RCA filing indicator You will now have to indicate on the top of the T3RCA form if you wish to file a Retirement Compensation Arrangement (RCA) Part XI.3 tax return. |
| FX/Q | Interface for Transmitting Federal Slips and T5013 Slips/Return (New!) The interface for federal slips or T5013 slips/return Internet transmission wizard has been modernized in the 2021 FX/Q module for single and batch transmissions. The filing method remains the same, which is the submission in XML file format through the CRA’s Internet file transfer (XML) site. Federal slips updated T4A - Three new codes available: • 201 Repayment of COVID-19 financial assistance • 205 One-time payment for older seniors • 210 Postdoctoral fellowship income Additional minor slip updates • NR4 • TL11A • T2202 • T4 • T4ANR • T4ARCA • T4PS • T5 • T5008 • T5018 • T737RCA Federal forms updated Additional minor form updates • CPT30 • GST191 • GST44 • GST74 • T1OVP • T2054 • T3012A • T661 • TP-518 • TP-614 • TX19 Blocked filing • T5013 filing is blocked from filing, will be available in future release |
| Systems | • Discontinued 2008 tax year support for T3 |
| Coming Soon... | • RL Quebec slip update |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.2.5. Certain forms for the 2021 taxation year are not released by CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits do not use this release to begin entering data for their clients. T1/TP1 highlights include: • 2021 T1/TP1 form updates • 2021 TP1 paper filing T3/TP646 highlights include: • 2021 T3 slip, NR4 slip XML filing • New interface for transmitting T3 and NR4 slips • T183 Information return for the electronic filing of trust returns (New!) • 2021 T3/TP646 form updates FX/Q highlights include: • RL18 slip and T5008/RL18 consolidated slip (New!) • Updated Quebec RL slip paper and web service filing • Updated Federal and Quebec Forms System highlights include: • Various product enhancements |
| T1/TP1 | Federal Forms Schedule 14 - Climate Action Incentive The form is updated to display the estimated benefit for information purposes only. The estimated benefit will be paid in quarterly instalments beginning in July 2022, and has been included for visibility on the GST/HST worksheet. Repay To determine the social benefits repayment in Chart 2, the amount of the Canada Recovery Benefit included on T4A slips that the taxpayer was not entitled to receive should be removed from the calculation. T777S - Statement of Employment Expenses for Working at Home Due to COVID-19 For individuals working at home due to COVID-19, the temporary flat rate maximum has been updated to $500. T2222 - Northern Residents Deduction The form is updated to reflect the proposed changes to the travel deduction. Under proposed changes, a taxpayer may claim the travel deduction for a trip taken by an eligible family member up to the amount of employer-provided travel benefits received in respect of travel by that individual, or a standard amount of $1,200. OtherCredits Eligible educator school supply tax credit rate has been updated to 25%. Provincial Forms - Quebec TP-1 - Income Tax Return Income reported at RL-1 Box O-5 Inventive Program to Retain Essential Workers, is now reported at Line 154 of the TP-1 return. It was previously reported Line 151, which is now deleted. Relévé 1 The following boxes have been added: • RY One-time payment for older seniors (line 114) • O-8 Repayment of IPREW benefits (line 246) • O-9 Repayment of benefits received in 2020 (CERB, CESB, CRB, CRSB or CRCB) (line 246) • O-10 Canada Worker Lockdown Benefit (lines 154 and 169) Relévé 10 Box G, H and I have been split into separate boxes to account for the decrease of the Fondaction tax credit on June 1, 2021 from 20% to 15%. Removed Forms • Relévé 23 Recognition of Volunteer Respite Services • TP-1.O Tax Credit for Respite of Caregivers |
| T3/TP646 | Most-Relevant Rates Published The most-relevant rates published by CRA are implemented in this release of T3/TP646 module. Interface for Transmitting Slips (New!) The interface for federal T3 and NR4 slips Internet transmission wizard has been modernized in the 2021 T3/TP646 module for single and batch transmissions. The filing method remains the same, which is the submission in XML file format through the CRA’s Internet file transfer (XML) site. The interface for RL16 slips electronic transmission will be available in a future release. T3 slip and NR4 slip XML filing T3 slip and NR4 slip XML filing is available in this release. Federal Forms T183 Information Return for the Electronic Filing of Trust Returns (New!) The T183 is required when trust returns (T3RET, T3RCA, and/or T3M) are selected to be filed electronically. The electronic filing for trust returns will be available in a future release. Removed Form • T1163-T1273 - AgriStability and AgriInvest Programs Information and Statement of Farming Activities for Individuals (Harmonized/Non-Harmonized) |
| FX/Q | Federal Form T4AUTO/RC18 The general prescribed flat rates for operating expense benefit have been updated for 2021: • 27 cents per kilometre for employees who occupy any employment other than selling or leaving automobiles • 24 cents per kilometre for employees who are employed principally in selling or leasing automobiles Provincial Forms - Quebec Updated Quebec RL Slip Web Service Filing The Quebec RL Slip Web Service Filing is updated for 2021 and 2022 tax years. RL18Detail (New!) The RL-18 slip must be filed by traders or dealers in securities or by issuers of securities and their agents that purchased, sold, redeemed, acquired or cancelled securities. ProFile fills in the RL18 slip based on information and amounts entered on forms T5008 Detail (T5008Detail) and RL18 Detail (RL18Detail). RL18 Feuillet (or Slip) (New!) RL18 Feuillet form is a reproduction of the RL18 slip, used for printing purposes. RL18Consolidé (New!) Revenu Québec and the Canada Revenue Agency (CRA) have worked together to create a combined T5008/RL-18 form to facilitate taxpayer self-assessment. The new combined T5008/RL-18 form (recipients’ copy) will: • Combine federal and Quebec tax information • Include all transactions on a single form (instead of a standalone RL-18 slip for each transaction) • Standardize the information sent to investors in order to facilitate self-assessment As a result, from the 2021 tax year on, you are required to send Quebec recipients one of the following prescribed forms: • A combined T5008/RL-18 form for all transactions • A standalone RL-18 slip for each transaction, in some situations ProFile fills in the T5008/RL18 form based on information and amounts entered on forms T5008 Detail (T5008Detail) and RL18 Detail (RL18Detail). TP1097 - Notice of Disposition or Proposed Disposition This form now requires trusts to include their identification number. Before filing this form, the trust must obtain an identification number by filing an Application for a Trust Identification Number (form LM-58.1.2). Other Federal Forms Updates • GST523 • GST66 • T400A • TD1 • TD1X • TD1AB • TD1BC • TD1MB • TD1NB • TD1NL • TD1NS • TD1NT • TD1NU • TD1ON • TD1PE • TD1SK • TD1YT Other Quebec Slips and Forms Updates • RL1 • RLZ-1.S (RL1Sum) • RL2 • RL3 • RL8 • RL15 • RL24 • RL25 • RL31 • TP1015.3 • LE-39.0.2 • IN412.A |
| Systems | • various product enhancements |
| Coming Soon! | T1/TP1: • T1 Barcode and T1 condensed • TP1 barcode • 2021 T1 EFILE • 2021 T1013 EFILE and barcode • 2021 T1135 EFILE • 2021 TP1 NETFILE • 2021 AFR (Auto-fill My Return) EFILE • T1PAD (pre-authorized debit) EFILE T2: • CO17 paper and Internet filing • T2 AGRI - AgriStability and AgriInvest T3/TP646: • T3RET, T3RCA and T3M EFILE • RL16 EFILE • MR69 EFILE • 2021 TP646 authorized filing FX/Q: • T5013/TP600 paper filing and EFILE |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.3.0. Certain forms for the 2021 taxation year are not released by CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. System highlights include: • Introducing Adobe eSign T1/TP1 highlights include: • 2021 T1 form updates • 2021 TP1 form updates • Auto-fill my Return (AFR) from 2016 to 2021 tax years • Express Notice of Assessment (ENOA) from 2017 to 2021 tax years • T1 EFILE from 2017 to 2021 tax years • T1 ReFILE from 2018 to 2021 tax years • T1135 EFILE from 2017 to 2021 tax years • T1 Barcode and KFS • T1PAD EFILE (Pre-Authorized Debit) for 2021 tax year • TP1 NETFILE from 2018 to 2021 tax years • TP1 barcode • 2021 RQ Import T2 highlights include: • Québec CO-17 - Corporation Income Tax Return updated for 2021 filing • Internet file is now available to Insurance corporations Québec income tax returns (New!) • Updated AgriStability forms in T2 • ProFile now carries forward information from 2021 files created with TaxPrep T2 (version 2021 v2.0), Cantax T2 (version 21.2.307.126), TaxCycle T2 (version 11.0.46016.0), and DTMax (version 25.01) T3/TP646 highlights include: • T3 EFILE (New!) • T3MJ paper filing • TP646 paper authorization • 2021 form updates FX/Q highlights include: • T5013 is certified for paper and XML filing • TP600’s existing (2020-10) version continues to apply for 2021 tax year paper filing • T3010’s existing (2021-05) version continues to apply for 2021 tax year paper filing • TP985.22’s existing (2019-10) version continues to apply for 2021 tax year paper filing • TP529’s existing (2020-09) version continues to apply for 2021 tax year paper filing |
| T1/TP1 | Electronic Submission of non-Canadian Mailing Addresses (New!) Commencing with the 2021 tax year, residents and factual residents of Canada are eligible to EFILE their tax returns with a non-Canadian mailing address. |
| T2 | Federal Schedules AGRI - T2 AgriStability and AgriInvest AgriStability forms are updated to support 2021 tax year filings. Québec Schedules • Revenu Québec required ProFile to display a notice message to prompt corporation return filers to attach financial statements and related notes to their income tax returns, as required by IN-417.A guide • Insurance corporations can now Internet file their income tax returns (New!) CO-1029.8.33.6 - Tax Credit for an On-the-Job Training Period The checkboxes below box 18d specifies when the qualified expenditures were incurred: • The second selection is renamed to “After March 27, 2018 and before March 26, 2021” • A new selection is added for expenses incurred “After March 25, 2021 or before May 1, 2022” Applicable tax credit rate (box 91) will populate based on the selected time period and other selections on the form. The form footnote #43 lists all the scenarios and their tax credit rates. CO-1029.8.36.DF - Tax Credit for Film Dubbing New form version (2021-09) removes obsolete Part 2 checkboxes 9, 10, 10a. Parts 4.1 and 4.2 are simplified. CO-1029.8.36.II - Investment and Innovation Tax Credit Part 4 has moved from CO-1029.8.36.IISUPP to CO-1029.8.36.II. Part 6 now calculates the tax credit according to the periods in which the specified expenses are incurred: • Before March 26, 2021 or after December 31, 2022 • From March 26, 2021 to December 31, 2022 CO-1159.2 - Compensation Tax on Financial Institutions The compensation tax on financial institutions is extended beyond March 31, 2024 per Quebec Bill 5 (2021). TP-1086.R.23.12 - Cost Incurred for Work on an Immovable This form is now included in the COR-17.U and the electronic transmissions for the Québec income tax return. Additional minor form updates • COR-17.U • CO-17 • CO-17.CE (QS88) • CO-400 • CO-771 • CO-1029.8.33.13 • CO-1029.8.36.DA • CO-1029.8.36.EL • CO-1029.8.36.EM • CO-1029.8.36.IN • CO-1029.8.36.PS • RD-1029.8.6 |
| T3/TP646 | T3 EFILE (New!) T3 EFILE is now available for 2021 T3/T3M/T3RCA returns. T3 EFILE replaces the Internet File Transfer (XML) filing method for T3 return filing. Please note that the Internet File Transfer (XML) filing method is still used for electronic filing of: • 2021 T3/TP646 module T3/RL slips • T3 return filing for T3/TP646 modules prior to 2021 Revenu Québec Approval of 2021 TP-646/RL-16 Revenu Québec has approved the 2021 filing of TP-646 trust returns and RL-16 slips. TP-646 forms no longer show "DRAFT" watermarks. RL-16 electronic transmission will be available in a future release. |
| FX/Q | Federal Forms T5013Detail, Slip, Sum and Worksheet Additional lines for new tax credits: • Box 237 - Farmer fuel charge tax credit • Box 238 - Ventilation system installation tax credit (for year 2022) Removal of obsolete credit: • Box 177 - Recapture of earned depletion Additional minor form updates – Federal • GST159 • RC4288 • T101B • T2200 • T2200S • T3010 • T3D • T3RI • T5013-FIN • T5013S2 • T5013S8 • T5013S9 • T5013S12 • T5013S141 • T5013-INST Additional minor form updates – Québec • IN-412.A |
| Systems | • Introducing Adobe eSign |
| Coming Soon! | • T1/TP1 • T2043 Return of Fuel Charge Proceeds to Farmers Tax Credit • T1 multi-jurisdictional filing • RL-16 electronic transmission for T3/TP646 |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.3.5. Certain forms for the 2021 taxation year are under review at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. T1/TP1 highlights include: • GST/HST credit and Canada Child Benefit (CCB) provincial rates update • TP1 Amended Return from 2018 to 2021 tax years • T2043 - Return of Fuel Charge Proceeds to Farmers Tax Credit (New!) T3/TP646 highlights include: • RL16 slip electronic transmission with new interface (New!) Systems highlights include: • Various system enhancements |
| T1/TP1 | T2043 - Return of Fuel Charge Proceeds to Farmers Tax Credit (New!) The return of fuel charge proceeds to farmers’ tax credit is available to a self-employed farmer or an individual who is a member of a partnership who operates a farming business with one or more permanent establishment(s) in one or more of the following designated provinces: Ontario (ON) Manitoba (MB) Saskatchewan (SK), or Alberta (AB) The tax credit is calculated at 0.147% of eligible farming expenses. The total credit calculated on T2043 is reported at Line 47556 of the T1 return. |
| T3/TP646 | Interface for Transmitting RL16 Slips (New!) • The interface for RL16 slips Internet transmission wizard has been modernized in the 2021 T3/TP646 module. |
| Systems | • Various system enhancements |
| Coming Soon! | For T1/TP1: • T1 multi-jurisdictional filing • T1ADJ T1 Adjustment Request |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.4.0. Certain forms for the 2021 taxation year are under review at this time. In-product forms include a “DRAFT” watermark indicating that the form is not approved for use. T1/TP1 highlights include: • EFILE-certified T1 multiple jurisdictional returns • 2020-21 Taxprep to ProFile carry forward now supported up to Taxprep 2020 v6.0 T3/TP646 highlights include: • 2022 rate update FX/Q highlights include: • 2022 rate update Systems highlights include: • Improvements in Print and Adobe Sign integration |
| T1/TP1 | Multiple Jurisdictional Tax Returns The multiple jurisdictional tax returns are now EFILE-certified for the 2021 tax year: • T2203 • All provincial multiple jurisdiction forms 2020-21 Taxprep to ProFile carry forward This version of the ProFile T1 module carries forward information from Taxprep 2020 v6.0 T1 returns to create new 2021 ProFile returns. To carry forward a Taxprep T1 file, select the option Carry forward from the File menu. Set Files of type as “2020 Taxprep T1 (.120)” or drag-and-drop a Taxprep file (.120) into a ProFile T1 file. |
| T3/TP646 | 2022 rate updates The rates applicable to the 2022 taxation year are those known as of the release date. |
| FX/Q | 2022 rate updates The rates applicable to the 2022 taxation year are those known as of the release date. |
| Systems | Various Systems Improvements • Improvements in Print and Adobe Sign integration |
| Coming Soon! | For T1/TP1 • 2021 T1 and TP1 planner |
| Module | Content |
| Introduction | Download the latest release of the ProFile Suite, version 2021.4.7. T1/TP1 highlights include: • T1134 and T1134Supp - Information Return Relating to Controlled and Non-Controlled Foreign Affiliates (New!) • T1 planner update • TP1 planner update T3/TP646 highlights include: • TP646.R - Request for an Adjustment to a Trust Income Tax Return (New!) Systems highlights include: • Various product improvements • IE 11 browser is replaced with Chromium embedded browser |
| T1/TP1 | T1134 and T1134Supp - Information Return Relating to Controlled and Non-Controlled Foreign Affiliates (New!) The 2021 version of the T1134 Information Return Relating to Controlled and Non-Controlled Foreign Affiliates is now available to individuals in the T1/TP1 module. For tax years that begin after 2020, T1134(21) must be filed by a taxpayer who is a resident in Canada for which a non-resident corporation or trust is a foreign affiliate or a controlled foreign affiliate at any time in the year. Please refer to the return instructions for more details. The filing due date is no later than 10 months after the end of the taxation year. The T1134(21) return can be filed electronically through the ProFile menu by selecting the option EFILE the T1134… from the EFILE drop-down menu. Plan / TP1Plan • Federal and Quebec planners are updated to reflect the new credits and updated income tax brackets for 2022 • 2022 rates are being enacted in the planner’s calculation 2022 Rates Update • The T1 General is calculated with the most recent 2022 rates when tax year of 2022 is chosen on the INFO page • The 2022 rates are used for planning purposes and ProFile users should not file the return with 2022 rates • The rates applicable to the 2022 taxation year are those known as of April 29. Any changes resulting from subsequent federal, provincial, and territorial announcements will be integrated into future updates. |
| T3/TP646 | TP646.R - Request for an Adjustment to a Trust Income Tax Return (New!) This form is for trustees, or representatives of trustees who wish to make changes to a Quebec trust income tax return (TP-646) that has already been filed. |
| Systems | • Various product improvements • As per Microsoft's announcement, Internet Explorer (IE) 11 desktop application will end support for certain operating systems starting June 15, 2022. To minimize its impact on ProFile users, we are replacing IE 11 with Chromium as the embedded browser for ProFile. As a result, the in-product rendering of the browser for features such as logging in to Intuit Accountant will occur in a Chromium browser window instead of IE 11. The Chromium browser will be part of the ProFile installation package (filename gpsetup.exe) and will be automatically installed and launched even if users do not already have it installed in their systems. Click here (English / French) to learn more. |
| Coming Soon! | • New 2022 T2 module supporting tax periods up to October 31, 2022 |
| Module | Content |
| Introduction | Version 2021.4.8 Download the latest release of the ProFile Suite, version 2021.4.8. Release highlights include: Licensing changes for ProFile and OnePay |
| Systems | Product codes are no longer required for activating any ProFile licenses purchased on and after June 6, 2022. Going forward, ProFile users will instead only receive license numbers; these license numbers can be entered in the Manage ProFile Licenses window in the License Key field with the Product Code field left empty. For older licenses purchased prior to this period, both product codes and license keys are required for activation. OnePay purchases made on or after June 6, 2022 now come with a license number that can be entered in the Manage ProFile Licenses window to activate. Users need to upgrade to ProFile version 2021.4.8 or above to activate OnePay licenses purchased on and after June 6, 2022. |
| Coming Soon! | • New 2020-2022 T2 module supporting tax periods up to October 31, 2022 |
See our support articles on entering a ProFile license and Purchasing a OnePay license for more details.
| Module | Content |
| Introduction | Version 2021.5.0 Download the latest release of the ProFile Suite, version 2021.5.0. T2 highlights include: • An Internet connection is required for printing a Quebec Corporation Income Tax Return (CO-17) • 2020-2022 T2 module is now available when fiscal year ends on or before October 31, 2022 • T2 paper and Internet filing is certified for Federal corporate tax returns • AT1 paper and Internet filing is certified for Alberta corporate tax returns • Immediate expensing for eligible property is now included in CCA deduction on S8 and AS13 • T2 Schedules S59, S63, S351 are now available (New!) • ProFile T2 now carries forward information from 2022 files created with DTMax (version 25.15) System highlights include: • Print-related improvements for T2 • License-related improvements |
| T2 | DTMax to ProFile carry forward ProFile T2 now carries forward information from 2022 files created with DTMax (version 25.15). T2 and AT1 certifications The 2020-2022 T2 module is certified for Federal and Alberta corporate tax returns and allows for the preparation of returns for corporations with fiscal years ending on or before October 31, 2022. Federal Immediate expensing of eligible property by CCPC As part of the 2021 federal budget, certain capital property acquired by Canadian-controlled private corporations (CCPC) on or after April 19, 2021 and that becomes available for use before January 1, 2024 are eligible for the temporary 100% capital cost allowance (CCA) deduction (“immediate expensing”). Property in CCA classes 1 to 6, 14.1, 17, 47, 49, and 51 are not eligible for the immediate expensing deduction since these classes are generally considered long-lived assets. The immediate expensing limit is $1,500,000 for a taxation year for the eligible person and the associated group (if applicable). The immediate expensing calculation is now included in S8 for T2 return and AS13 for AT1 return for the eligible property entered on S8Class or S8Lease worksheets. However, any adjustment requests to recognize immediate expensing cannot be processed until after Royal Assent has been received. Refer to C-19 on the Parliament of Canada website (review French here) for the latest status of the Bill C-19. The change has not been made on CO-130.A for CO-17 return at this time in accordance with the Revenu Quebec requirements. T2 Attach-a-doc Supporting or required documents for T2SCH351 can now be submitted to CRA through T2 Attach-a-doc. T2 - Corporation Income Tax Return The following new lines are added for various new tax credits: • Lines 273 and 795: Return of fuel charge proceeds to farmer’s tax credit (refer to S63 below) • Line 274: Non-qualified securities (refer to S59 below) • Lines 275 and 799: Air quality improvement tax credit (Note: the new Schedule 65 will be available in a future release.) S5 - Tax Calculation Supplementary – Corporations Obsolete lines for Nova Scotia film industry tax credit, New Brunswick film tax credit, and British Columbia political contribution tax credit are now removed from the schedule. S17 - Credit Union Deductions The section related to Saskatchewan and lines referring to the year 2019 are now removed from the schedule. S59 - Information Return for Non-Qualified Securities (New!) This schedule is used by the employer to report a non-qualified security to be issued or sold under an employee security option agreement between the employees and a qualifying person. S63 - Return of Fuel Charge Proceeds to Farmers Tax Credit (New!) This schedule is used for a corporation or a member of partnership operating a farming business in Ontario, Manitoba, Saskatchewan or Alberta. The gross eligible farming expenses must be at least $25,000 to claim this refundable tax credit. S141 - Notes Checklist The following new lines are added: • Line 111 “Were financial statements prepared?” • Option 4, “Other” now included in Line 198 (Type of involvement with the financial statements). S351 - Additional Certificate Numbers for the Nova Scotia Capital Investment Tax Credit (New!) This is a schedule to report additional certificate numbers for Nova Scotia Capital Investment Tax Credit. The information entered on this schedule will automatically be reported on Schedule 5. S387 - Manitoba Small Business Venture Capital Tax Credit Effective April 7, 2021, the maximum credit earned is increased to $225,000 (previously $202,500) and the maximum credit that can be claimed is $120,000 (previously $67,500). S444 - Yukon Business Carbon Price Rebate The business rebate factor for the Yukon business carbon price rebate has been updated. S570 and S570Supp - Ontario Regional Opportunities Investment Tax Credit Part 2 data entry is enhanced and moved to a new worksheet “S570Supp” to allow more entries for the eligible property capital cost table (lines 201 to 204). T106 and T106Supp - Information Return of Non-Arm’s Length Transactions with Non-Residents Both government form versions (10/2017) and (22) are now supported on the same T106 and T106Supp. The version is automatically selected based on the tax years entered on INFO. The new (22) version is for tax years or fiscal periods that begin after 2021, whereas the earlier (10/2017) version is for tax years or fiscal periods that begin before 2022. There is additional information on the new (22) version, including the Taxpayer Identification Number (TIN) in Part II, Investment in the reporting entity by the non-resident (paid-up capital), and the Pertinent Loan or Indebtedness (PLOI) election in Part IV. Alberta AT1 - Alberta Corporate Income Tax Return The Royalty Tax Deduction (Line 064) is now obsolete and removed from the AT1. AConsent (AT4930) - Alberta Consent Form The form is updated to remove the section regarding the request to the Tax and Revenue Administration Client Self-Service (TRACS) access. Previous versions of the Alberta Consent form requesting TRACS access are no longer accepted by Alberta. Representatives will now need to request TRACS access using the “Manage Clients” function in their their-party organization account. The new version of the Alberta Consent form is now also limited to authorization and/or cancellation of consent for corporate income tax accounts with Tax and Revenue Administration (TRA). For all other programs, AT4931 is required instead. Visit alberta.ca for more information. Quebec Corporation Income Tax Return (CO-17) An Internet connection is required for printing a Quebec Corporation Income Tax Return (CO-17). Minor form updates • AS12 • Installments • IN417.A • S6 • S7 • S8Class • S8Lease • S13 • S31 • S50 • S89 • S91 • S97 • S305 • S321 • S322 (S5PE) • S384 • S411 (S5SK) • S481 (S5NU) • S502 • S564 • S568 • T1134(21) • T1134Supp(21) Removed Forms • QS1TaxCredit |
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