Profile HelpIntuitWhat's new in ProFile
by Intuit•1• Updated 1 week ago
About ProFile
To update ProFile, select the Check for Updates option from the Online dropdown menu.
For a list of issues fixed in the current and recent releases, see What was fixed in recent ProFile releases.
Visit our website if you have product-related questions, or see our support options page if help is needed for a technical issue.
What's new in ProFile release 2026.0.0
| Module | Content |
| Introduction | Version 2026.0.0 Download the latest release of the ProFile Suite, version 2026.0.0. This is the first release of ProFile T1 and FX for the 2026-taxation year. Forms for the 2026-taxation year aren't released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits hold off on using this release to enter client data.. T1/TP1 highlights include: • New 2026 T1/TP1 module is now available • 2025-26 ProFile to ProFile carry-forward preview • 2025-26 Taxprep to ProFile carry-forward preview • 2025-26 Cantax to ProFile carry-forward preview • 2025-26 TaxCycle to ProFile carry-forward preview • 2025-26 DTMax to ProFile carry-forward preview T2/CO-17 highlights include: • ProFile T2 now carries forward information from 2026 files created with Taxprep T2 (version 2026 v1.1), Cantax T2 (version 26.1.307.100), TaxCycle (version 16.0.63710.0), and DTMax (version 29.30) FX/Q highlights include: • New 2026 FX/Q module is now available • ProFile 2026 FX carries forward information from 2025files created with ProFile 2026 FX, Taxprep Forms versions up to 2025 v4.0 and Cantax FormMaster versions up to 2025 v4.0. System highlights include: • T1 2026 module supports Intuit Sign |
| T1/TP1 | 2025–2026 ProFile to ProFile carry-forward preview This early version of the ProFile T1 module carries forward information from 2025 ProFile returns to create new 2026 ProFile returns (for preview purposes only). To carry forward a single 2025-tax return, right-click on the file and then select the Carry forward option. 2025–2026 Taxprep to ProFile carry-forward preview This version of the ProFile T1 module carries forward information from 2025 Taxprep T1 returns to create new 2026 ProFile returns. To carry forward a Taxprep T1 file, select the option Carry forward from the File menu. Set Files of type as “2025 Taxprep T1 (.125)” or drag-and-drop a Taxprep file (.125) into a ProFile T1 file. Taxprep versions are supported up to 2025 v4.0. 2025–2026 Cantax to ProFile carry-forward preview This version of the ProFile T1 module carries forward information from 2025 Cantax T1 returns to create new 2026 ProFile returns. To carry forward a Cantax T1 file, select the option Carry forward from the File menu. Set Files of type as “2025 Cantax T1 (. P25)” or drag-and-drop a Cantax (. P25) file into a ProFile T1 file. Cantax versions are supported up to version 25.4.303.15. 2025–2026 DT Max to ProFile carry-forward preview This version of the ProFile T1 module carries forward information from 2025 DT Max T1 returns to create new 2026 ProFile returns. DT Max versions are supported up to v29.30. 2025–2026 TaxCycle to ProFile carry forward This version of the ProFile T1 module carries forward information from 2025 TaxCycle T1 returns to create new 2026 ProFile returns. TaxCycle versions are supported up to 16.0.63993.0 BC Family Benefit – Disability Supplement British Columbia has added a new Disability Supplement to the BC Family Benefit for 2026: families with a child who qualifies for the disability tax credit can receive up to an extra $500 a month, gradually reduced once family net income passes $50,000. This is calculated automatically as part of the Canada Child Benefit, on ProFile's BC Family Benefit worksheet (T1BCCTB). T777Auto, BusAuto, TP59Auto, TP80Auto – 2026 Vehicle Expense Rates The tax-exempt per-kilometre allowance for employees and self-employed individuals who use a personal vehicle for business purposes rises to $0.73/km for the first 5,000 km and $0.67/km after that (territories: $0.77/km and $0.71/km). The capital cost limit for eligible Class 10.1 vehicles purchased in 2026 increases to $39,000 plus applicable taxes, up from $38,000. The maximum deductible lease cost stays at $1,100 per month, before tax, for new leases entered into in 2026; the vehicle-cost threshold used in the CRA's lease-cost proration formula rises in step with the higher CCA ceiling, to $45,882 from $44,706. Asset and CCA schedules – Immediate Expensing (DIEP) Removed The temporary Immediate Expensing measure (DIEP) has expired. The related fields and checkboxes have been removed from the CCA and asset forms for self-employment, business, farming, fishing, and resource income (T2125, T2121, T2042, T776, T1163/T1273, and the Resource schedules). Minor form updates: • TP80Auto Removed worksheet: • Authorize a Representative (T1013) and Cancel Authorization (T1013X) |
| T2/AT1/CO-17 | Taxprep, Cantax, TaxCycle, and DTMax to ProFile carry forward ProFile T2 now carries forward information from 2025 files created with Taxprep T2 (version 2026 v1.1), Cantax T2 (version 26.1.307.100), TaxCycle (version 16.0.63710.0), and DTMax (version 29.30). T2 S500 – Ontario Corporation Tax Calculation The Government of Ontario tabled Bill 97, Plan to Protect Ontario Act (Budget Measures), 2026, which decreased the small business corporate income tax rate from 3.2% to 2.2%, effective July 1, 2026. Bill 97 received Royal Assent on April 24, 2026. As a result, the Ontario small business deduction rate increases from 8.3% to 9.3%. Part 2 and Part 4 have been updated in the CRA's (26) revision, applying each rate to its own period with day-count proration for taxation years that straddle July 1, 2026. Schedule 5 – Tax Calculation Supplementary, Corporations A new line has been added for British Columbia's Manufacturing and Processing Tax Credit, feeding into the province's refundable-credit subtotal. S5NL (S307) – Newfoundland and Labrador Corporation Tax Calculation The Government of Newfoundland and Labrador tabled Bill 16, An Act to Amend the Income Tax Act, 2000, which decreases the small business corporate income tax rate in stages: from 2.5% to 2.0% effective January 1, 2026, to 1.5% effective January 1, 2027, and to 1.0% effective January 1, 2028. Bill 16 received Royal Assent on June 2, 2026. The Part 2 rate bands and day-count proration have been updated for the 2026 and later tax years to apply the new rates as they take effect. T661 – Scientific Research and Experimental Development (SR&ED) Expenditures Claim The form has been updated to reflect the latest 2026 version, including the reporting of capital expenditures in Part 4. Schedule 32 Assist has also been updated with a new column to support the Alberta Innovation Employment Grant on AS29. AT1 AS29 / AS29List – Alberta Innovation Employment Grant Eligible expenditures for the Innovation Employment Grant exclude capital expenditures made after December 15, 2024. Line 003 now draws the federal SR&ED amount from line 557 of federal Form T661 for tax years ending after December 15, 2024, and continues to use line 559 for tax years ending on or before that date, so that ineligible capital expenditures are excluded from both the base amount and total eligible expenditures. The line 011 add-back and the related AS29List allocation reconciliations follow the same cutoff, and the associated audit messages have been updated to reference line 559 or 557 as applicable. CO-17 CO-771 – Calculation of the Income Tax of a Corporation Revenu Québec's April 29, 2026 information bulletin decreased the small business income tax rate from 3.2% to 2.2%. The small business deduction rate on the CO-771 is the spread between the unchanged general rate of 11.5% and the small business rate, the deduction rate increases from 8.3% to 9.3%. This change is effective for taxation years beginning after April 29, 2026. A new Part 12.3 has been added to day-weight the two rates for a taxation year that includes April 29, 2026; tax years falling entirely on either side of that date use a single rate. CO-400 - Deduction Respecting Resources Quebec's 2026 budget measures introduce an additional deduction for re-accelerated Canadian development expenses and re-accelerated Canadian oil and gas property expenses. Revenu Québec has authorized early integration of these calculations ahead of the official form revision, so the new entries and their supporting calculations have been added to the current form version and are included in the related deduction totals carried to the summary sections. Because these amounts aren't reflected on the approved version of the form and are not part of the electronic transmission, an audit instructs the preparer to attach the details of the calculation before filing the return. CO-1029.8.36.PS - Tax Credit to Support Print Media Companies Quebec's 2026 budget measures increase the annual limit used in the credit calculation from $75,000 to $85,000. Revenu Québec has authorized early integration of this change ahead of the official form revision, so the limit is now determined by the corporation's fiscal year-end: year-ends on or before March 18, 2026 continue to use $75,000, and year-ends after that date use $85,000. An audit explains the higher limit when it applies. Minor form updates: • CO17 • S5 • S572 • RD-222 |
| FX/Q | New 2026 FX/Q module The new 2026 FX/Q module is now available. Quebec slip filing isn't yet available in the 2026 FX/Q module. If you need to file 2026 slips now, use the previous module and manually override the year to 2026. Slip filing in the 2026 module will be enabled in a future release once the 2026 slips have been updated. Carry forward from 2025 to 2026 ProFile 2026 FX carries forward information from 2025 files created with ProFile 2025 FX, Taxprep Forms versions up to 2025 v4.0, and Cantax FormMaster versions up to 2025 v4.0. T661 – Scientific Research and Experimental Development (SR&ED) Expenditures Claim The form has been updated to reflect the latest 2026 version, which introduces the reporting of capital expenditures for depreciable property acquired after December 15, 2024. New parts have been added to report these capital expenditures and expenditures on shared-use-equipment. Current and capital amounts are now reported in separate columns and flow independently into the qualified expenditure and investment tax credit calculations. GST524 – GST/HST New Residential Rental Property Rebate Application The form has been updated to reflect the latest 2026 version, which introduces the Ontario enhanced new residential rental property (ENRRP) rebate. Page 2 now includes an indicator for claiming the ENRRP rebate, the construction start and substantial completion dates, and a consent block for sharing information for the Ontario new home affordability payment. Any Ontario new residential rental property rebate already claimed is now reported separately and reduces the rebate calculated in Parts D and E. Note that provincial rebate schedules, including the GST524 Ontario Rebate Schedule (Form RC7524-ON), aren't supported by ProFile and must be completed separately. GST525 – Supplement to the New Residential Rental Property Rebate Application The form has been updated to reflect the latest 2026 version, which supports the Ontario enhanced new residential rental property (ENRRP) rebate. Both the multiple-unit and co-op rebate calculations now include a new entry for any Ontario new residential rental property (NRRP) rebate already claimed for the residential rental property, whether by the claimant or by another person. This amount reduces the total rebate calculated in each part. The rebate totals section for multiple-unit claims no longer reports a purpose-built rental housing amount, since those claimants don't complete the per-unit rebate calculation chart. T1145 – Agreement to Allocate Assistance for SR&ED Between Persons Not Dealing at Arm's Length The form has been updated to reflect the latest 2026 version. The assistance allocated on line 010 is now broken down between current expenditures and capital expenditures on lines 015 and 020, so that each amount is reported in the correct column of the transferee's T661. T1146 – Agreement to Transfer Qualified Expenditures Incurred in Respect of SR&ED Contracts Between Persons Not Dealing at Arm's Length The form has been updated to reflect the latest 2026 version. The qualified expenditures transferred on line 010 are now broken down between current expenditures and capital expenditures on lines 015 and 020, so that each amount is reported in the correct column of the T661 for both the transferor and the transferee. GST190 – GST/HST New Housing Rebate Application for Houses Purchased from a Builder The form has been updated to reflect the latest 2026 version, which introduces the Ontario enhanced new housing rebate (ENHR) and the Ontario new home affordability payment (ONHAP). Part A now includes a certification that the claimant is claiming the Ontario ENHR, along with claimant consent blocks for sharing information with the Province of Ontario in support of the ONHAP, covering both the case where the payment was assigned to the builder and the case where it wasn't. Part D includes a corresponding builder consent block for assigned payments. Each of the three rebate calculation sections now includes a new entry for any Ontario first-time home buyers' rebate already claimed for the house, whether by the claimant or by another person, and this amount reduces the total rebate amount in the section. TD1NL – Newfoundland and Labrador Personal Tax Credits Return The basic personal amount and infirm dependant amount both increase from $11,188 to $13,094 for 2026. Removed Forms • UHT2900 - Underused Housing Tax Return and Election Form • UHT183 - Authorization to Electronically File the Underused Housing Tax Return and Election Form Minor form updates • T5013S76 • GST159 • T1261 |
| Systems | “ProFile PDF Export” Printer Driver Update (Amyuni 6.5.4.7) ProFile 2026 R0 includes an upgraded version of the Amyuni PDF Converter (v6.5.4.7) — the printer driver behind "ProFile PDF Export" — used to generate PDFs for printing, saving, and eFile attachments. What's new: • Windows on ARM64 support: PDF generation now works on ARM64 devices. CO-17 eFile submissions with PDF attachments complete successfully on these machines — previously, attachment generation could fail or stall. What you need to do: • The updated driver installs automatically with the ProFile 2026 R0 upgrade — no separate download or manual installation required. All existing PDF and print settings, including PDF quality and default save locations, carry forward unchanged. Intuit Sign T1 2026 module supports Intuit Sign Other • Various product improvements • Microsoft has ended support for Windows 10 on October 14, 2025. This change doesn't impact ProFile versions for Tax Year 2024 and before. For more details, check out our Microsoft Support ending for Windows 10 article. |
| Coming Soon! | • 2025–2026 TurboTax to ProFile carry-forward (T1/TP1) • 2026 Form update (T2) |
| Module | Content |
| Introduction | Version 2025.5.0 Download the latest release of the ProFile Suite, version 2025.5.0. T2/CO-17 highlights include: • 2024-2026 T2 module is now available when fiscal year ends on or before October 31, 2026 • T2 paper and internet filing is certified for Federal corporate tax returns • AT1 paper and internet filing is certified for Alberta corporate tax returns • T25QCC is now available (New!) • ProFile T2 now carries forward from 2025 files created with DTMax (version 29.20), TaxCycle (version 15.1.61472.0), CanTax (version 2026.1.307.100) FX/Q highlights include: • Form updates Systems highlights include: • Software update preferences |
| T2/CO-17 | T2 and AT1 certifications The 2024-2026 T2 module is certified for Federal and Alberta corporate tax returns and allows for the preparation of corporate tax returns with taxation years beginning on or after January 1, 2024, and ending on or before October 31, 2026. DTMax to ProFile carry forward ProFile T2 now carries forward information from 2024 files created with DTMax (version 29.20). TaxCycle to ProFile carry forward ProFile T2 now carries forward information from 2024 files created with TaxCycle (version 15.1.61472.0). Cantax to ProFile carry forward ProFile T2 now carries forward information from 2024 files created with Cantax (version 2026.1.307.100). Schedule 3 – Dividends Received, Taxable Dividends Paid, and Part IV Tax Calculation Schedule 3 has been updated to reflect two changes introduced by CRA. A new question has been added to Section 2 (line 100) allowing a corporation to self-identify as exempt from Part IV tax under subsection 186.1(b)(ii) or (vii) of the Income Tax Act. This enables qualifying corporations — such as certain Crown corporations and tax-exempt entities — to indicate their exemption status directly on the schedule. Additionally, a new column (line 235) has been added to the dividend detail table in Part 1 to capture taxable dividends that are deductible from income under paragraph 113(1)(c) of the Act, which applies to dividends received from foreign affiliates. The column labels throughout the table have been updated accordingly. Schedule 5 – Tax Calculation Supplementary – Corporations Schedule 5 has been updated to reflect legislative changes affecting Ontario and Nova Scotia tax calculations. For Ontario corporations, two new lines have been added. Line 421 captures the non-refundable portion of the Ontario Made Manufacturing Investment Tax Credit (OMMITC) for the purposes of calculating Ontario corporate income tax payable. Additionally, a new line has been added for the Ontario Shortline Railway Investment Tax Credit (OSRITC). Introduced in the 2024 Ontario Budget and effective for eligible expenses incurred between May 15, 2025, and January 1, 2030, this new 50% refundable corporate income tax credit supports shortline rail operators. It provides up to $8,500 per track mile annually for track maintenance, rehabilitation, and infrastructure improvements in Ontario. To claim the credit, eligible corporations must first obtain a Certificate of Eligibility from the Ontario Ministry of Transportation. The refundable credit is calculated and claimed on Schedule 5 on Line 476, which then flows to Line 812 of the T2 Jacket. For Nova Scotia, line 550 (provincial political contribution tax credit) has been removed from the total of Nova Scotia non-refundable tax credits. Schedule 8, S8 Lease and Capital Cost Allowance (CCA) worksheets The Schedule 8, Schedule 8 Lease, S8Class and corresponding Alberta and Québec worksheets have been updated to reflect the measures introduced in Bill C-15. The Bill reinstates the accelerated investment incentive, now called the Reaccelerated Investment Incentive (RIIP). It also reinstates immediate expensing for certain capital cost allowance (CCA) classes. The RIIP and immediate expensing applies to qualifying property acquired on or after January 1, 2025 and available for use before 2030. The measure would be phased out starting in 2030, and fully eliminated after 2033. Productivity-enhancing assets: An additional enhanced first-year allowance for new additions of property to CCA Classes 44, 46, and 50 acquired after April 15, 2024, and available for use before January 1, 2027. These additions would be eligible for a 100% first-year deduction. CCA Class 44: Patents and intellectual property CCA Class 46: Data network infrastructure equipment and related systems CCA Class 50: General-purpose electronic data processing equipment (computer hardware) and systems software Purpose-built residential rentals: The Government of Canada proposes to provide an accelerated CCA rate of 10% (up from 4%) for new eligible purpose-built residential rentals. These projects would have to begin construction after April 15, 2024, and before 2031, and the property must be available for use before 2036. AS13 – Alberta AT1 Schedule 13: Capital Cost Allowance All RIIP additions, where applicable, are incorporated in the CCA calculations (column 23) and the ending UCC balances (column 24) on AT1 Schedule 13. Alberta Finance has not yet released an updated version of the schedule to include separate RIIP columns. AT1 Schedule 13 will be updated in a future release when Alberta Finance releases the updated form. QS8 – CO-130.A: Capital Cost Allowance (Québec) All RIIP additions, where applicable, are incorporated in the CCA calculations (column J) and the ending UCC balances (column K) on the CO-130.A. Revenu Québec has not yet released an updated version of the CO-130.A to include separate RIIP columns. The CO-130.A will be updated in a future release when Revenu Québec releases the updated form. Schedule 12 - Resource-Related Deductions The 2024 Fall Economic Statement introduced two new reaccelerated expense categories — Reaccelerated Canadian Development Expenses (RCDE) and Reaccelerated Canadian Oil and Gas Property Expenses (RCOGPE) — for eligible expenses incurred after 2024. Schedule 12 has been updated to reflect these legislative changes. On the CDE side, line 372 has been added to capture RCDE incurred during the tax year. Three new calculated amounts (AA, BB, and CC) now appear to support the revised current-year deduction at line 345, which incorporates a reaccelerated rate of 15%. The lines previously used to split ACDE between pre-2024 and post-2023 tax years have been removed as they are no longer applicable. On the COGPE side, line 453 has been added for RCOGPE incurred during the tax year, along with three new calculated amounts (DD, EE, and FF) supporting the revised current-year deduction at line 445, now incorporating a reaccelerated rate of 5%. Similarly, the lines previously used for the ACOGPE pre-2024/post-2023 split have been removed. Client files prepared in a previous version of ProFile will not retain amounts that were entered on any of the removed lines. Please review these sections before filing. Schedule 21 - Federal and Provincial or Territorial Foreign Income Tax Credits and Federal Logging Tax Credit The updated Schedule 21 introduces several changes to Parts 6, 7, and 8 to align with new tax regulations. In Part 6, a new line was added for the employer deduction for non-qualified securities (line 352), which expands the subtractions used to determine adjusted net income. Parts 7 and 8 have both been updated to explicitly specify additional tax on personal services business income (line 560) and to integrate a brand-new line for the total labour requirements addition to tax (line 580). Furthermore, Part 7 expands the scope of the refundable tax on investment income (line 604) to explicitly include substantive CCPCs alongside standard CCPCs. Schedule 31 - Investment Tax Credit – Corporation Budget 2025 introduced several significant changes to the SR&ED Investment Tax Credit program, and Schedule 31 has been updated to reflect all of them. Expanded eligibility. New checkboxes have been added in Part 9 to identify Eligible Canadian Public Corporations (ECPCs) and CCPCs making an election under subsection 127(10.31) or (10.32). For tax years starting after December 15, 2024, ECPCs can now access the enhanced SR&ED credit — including the 35% enhanced rate up to the expenditure limit, and the basic rate of 15% on any qualified expenditures above the expenditure limit. The refundable credit in Part 15 has also been updated accordingly. Updated phase-out calculation in Part 9. For tax years starting after December 15, 2024, the phase-out for ECPCs and electing CCPCs is no longer based on taxable capital. Instead, these corporations enter their average annual revenue minus $15 million at the new line 399 — the expenditure limit phases out once revenue exceeds $15 million and becomes nil at $75 million. Non-electing stand-alone CCPCs continue to use taxable capital at line 398. For tax years starting before December 16, 2024, Part 9 is unchanged. Updated expenditure limit in Part 10. Part 10 has been split into two versions. Part 10A applies to tax years starting before December 16, 2024, and retains the previous $40 million phase-out with a maximum expenditure limit of $3 million. Part 10B applies to tax years starting after December 15, 2024, and reflects the new thresholds — the expenditure limit phases out between $15 million and $75 million in annual revenue, producing a maximum expenditure limit of $6 million. New calculation lines 10A through 10D support this updated formula. Restored capital expenditures. A new line 360 has been added to Part 8 to capture capital expenditures incurred after December 15, 2024 (sourced from line 558 on Form T661). To apply the appropriate rates to these expenditures, new amounts 11C, 11D, and 11E have been added to Part 11. The total SR&ED ITC at line 473 now incorporates these additional amounts. Other updates. The former Part 23 – Recapture of ITC for child care spaces has been removed. The ITC for child care space expenditures can no longer be claimed; only unused credits that have not yet expired may be carried forward. A new Part 23 – Clean economy ITCs has been added in its place, which includes line 185 for reporting the clean electricity ITC from Schedule 77. A new line 25C has been added to capture the recaptured or recovered clean hydrogen ITC from Schedule 74, and in Part 24, line 24E has been added for the recaptured or recovered clean electricity ITC. The Part 16 recapture totals have been updated accordingly. Schedule 49 – Agreement Among Associated Canadian-Controlled Private Corporations to Allocate the Expenditure Limit Schedule 49 has been updated to reflect several changes for tax years beginning after December 15, 2024. The expenditure limit has been increased from $3 million to $6 million, and the taxable capital phase-out threshold has been raised from $40 million to $60 million. The form title has also been revised to remove the "Canadian-Controlled Private" restriction, expanding eligibility to include public corporations. Schedule 61, Agreement to Allocate Assistance for SR&ED Between Persons Not Dealing at Arm's Length – T1145 Following the reinstatement of SR&ED capital expenditures announced in Budget 2025, T1145 has been updated to capture a breakdown of the total allocated assistance. Two new lines have been added under line 010. Line 015 is used to enter the portion of the allocated assistance relating to current expenditures, and line 020 is used to enter the portion relating to capital expenditures incurred after December 15, 2024. The transferee is now required to report these amounts on lines 538 and 540 of Form T661 respectively, replacing the previous instruction to report only on line 538. The Authorization of Transfer section has also been updated with revised legal language around the filing requirements for directors' resolutions and authorized officers. Schedule 62, Agreement to Transfer Qualified Expenditures Incurred in Respect of SR&ED Contracts Between Persons Not Dealing at Arm's Length – T1146 Following the reinstatement of SR&ED capital expenditures announced in Budget 2025, T1146 has been updated to capture a breakdown of the total transferred amount. Two new lines have been added under line 010. Line 015 is used to enter the portion of the transferred amount relating to current expenditures, and line 020 is used to enter the portion relating to capital expenditures incurred after December 15, 2024. The transferee is now required to carry these amounts over to lines 508 and 510 of Form T661, and the transferor to lines 544 and 546 of Form T661, replacing the previous instruction to report only on lines 508 and 544. The Authorization to Transfer section has also been updated with revised legal language around the filing requirements for directors' resolutions and authorized officers. Schedule 75, Clean Technology Investment Tax Credit Part 1 has been updated with a new column — line 105 — to enter a description of the clean technology property. Part 2 has been updated with two new columns: line 210 for the province or territory in which the property is located, and line 212 for the available-for-use date of the property. A new Part 5 – Amounts allocated from partnerships has been added for corporations that receive clean technology ITC allocations from one or more partnerships. The table captures the partnership name, account number, the clean technology ITC allocated (line 510), the ITC recapture allocated (line 515), and the labour requirements addition to tax allocated (line 520). The totals from Part 5 now flow automatically into line 160 and the applicable recapture lines in Part 3. The filing instructions have also been updated — the deadline for filing this schedule is now the later of December 31, 2026, and one year after your filing-due date for the tax year in which the property became available for use. Schedule 76 - Clean Technology Manufacturing Investment Tax Credit Schedule 76 has been updated with several additions. In Part 1, the method for identifying eligible CTM property has changed: rather than entering a description of how the asset is used, you now enter the CTM asset code (line 106) to classify the property type. Additionally, Part 2 now includes a new note regarding the treatment of CTM property that is disposed of to a related taxable Canadian corporation, providing guidance on how the ITC is affected in these scenarios. A new section has been added to support allocations from partnerships. Amounts of the Clean Technology Manufacturing ITC allocated from a partnership can now be entered directly on Schedule 76 and will be included in the total ITC calculation. Schedule 78 – Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit Schedule 78 has been updated to reflect legislative changes to the CCUS Investment Tax Credit program. In Part 1, the credit rate table has been updated: the first rate period now runs from after 2021 to before 2036 (previously before 2031), and the second rate period runs from after 2035 to before 2041 (previously after 2030). This extension means the full applicable rate applies for an additional five years. In Part 3, the prevailing wage attestation section has been expanded to clarify that once the election is made, it cannot be revoked under the Income Tax Act. The attestation wording now also notes that the corporation is expected to maintain supporting documentation, and that failure to provide it to the CRA upon request may result in a gross negligence penalty under subsection 127.46(9). A new Part 5 – Amounts Allocated from Partnerships has been added. This table allows corporations to separately identify partnership-allocated CCUS ITC amounts, labour requirements additions to tax, and Part XII.7 tax received from partnerships (lines 500 to 520), referencing the corresponding boxes from the T5013 slip. Schedule 200 – T2 Corporation Income Tax Return The T2 Corporation Income Tax Return has been updated for 2025 and later tax years. Schedule 65 – Air Quality Improvement Tax Credit has been removed from the T2 return. Line 275 (the question asking whether the corporation is claiming this credit) and line 799 (the credit amount) are no longer available on the return. The Air Quality Improvement Tax Credit was a temporary measure for qualifying expenditures made to improve air quality in commercial spaces; as this credit has expired, the schedule is no longer supported. Additionally, line 315 (gifts of medicine made before March 22, 2017) has been removed from the deductions section of the return as this item is no longer applicable. SK S403 – Saskatchewan Research and Development Tax Credit As a result of the Budget 2025 changes to the SR&ED expenditure limit on Schedule 31 — which increased from $3,000,000 to $6,000,000 retroactive to January 1, 2025 — the qualifying SR&ED expenditure ceiling used in Schedule 403 Part 4 has effectively doubled, from $1,000,000 to $2,000,000, effective retroactive to December 16, 2024. The software has been updated to correctly calculate the Saskatchewan R&D credit using the new, higher expenditure limit from Schedule 31. Corporations that had SR&ED qualifying expenditures in prior years back to January 1, 2025 may wish to review their filings to assess the impact of this retroactive change. Schedule 500 - Ontario Corporation Tax Calculation Ontario's small business deduction (SBD) rate is increasing from 8.3% to 9.3% effective July 1, 2026. Schedule 500 has been updated to support a prorated calculation of the Ontario SBD for tax years that straddle the July 1, 2026 effective date. The software will automatically calculate the blended rate based on the number of days in the taxation year before and after the rate change. Schedule 572 – Ontario Made Manufacturing Investment Tax Credit (OMMITC) – 2025 and Later Tax Years Enacted under Bill 68 on November 27, 2025, Schedule 572 has been significantly expanded for the 2025 and later tax years to extend the OMMITC program to non-Canadian-controlled private corporations (non-CCPCs) at a 15% rate, introducing a new 10-year carryforward schedule for their unused non-refundable credits. For CCPCs, the eligible property section now implements a tiered credit rate—10% for property available before May 15, 2025, and 15% thereafter—while expanding qualifying capital assets to include CCA Class 43(a) alongside Classes 1 and 53. The updated form also integrates a brand-new Line 421 on Schedule 5 to map non-refundable credits directly against Ontario corporate income tax payable, and features a new repayment provision reconciliation section for previous claimants that automatically flows its summary implications into Schedule 5. T661 – Scientific Research and Experimental Development (SR&ED) Expenditures Claim Budget 2025 introduced significant changes to the SR&ED investment tax credit program, and Form T661 has been updated accordingly. In Part 3, new fields have been added to identify and track depreciable property acquired after December 15, 2024 that was used for SR&ED activities, including the property name, capital expenditure amount, and a listing of project numbers in which the property was used. Part 4 has similarly been updated to capture additional capital cost information for SR&ED-related property. Part 6 now includes new expanding tables to support the transferor (T1146) and transferee (T1145) scenarios, allowing corporations that have transferred or received qualified SR&ED expenditures to detail those amounts directly on the T661. Schedule 60 (T661 Part 2 – Project Information) has also been updated with new fields to capture capital expenditure details at the project level, including information on depreciable property used in individual SR&ED projects. AS12 – Alberta Schedule 12: Income/Loss Reconciliation AS12 has been updated to accommodate the treatment of Restricted Interest and Financing Expenses (RIFE) and employer deductions for non-qualified securities for Alberta purposes. Four new fields have been added: line 131 captures the Federal RIFE amount (linked from T2 line 336), and line 130 captures the Alberta RIFE amount (linked from Schedule 21, line 240), recognizing that the Alberta and Federal amounts may differ. Similarly, line 141 captures the Federal employer deduction for non-qualified securities (from T2 line 352), and line 140 captures the Alberta amount. These additions ensure the Alberta taxable income reconciliation properly reflects any differences between federal and provincial treatment of these items. AS21 – Alberta Schedule 21: Loss Continuity and Application AS21 has been updated to incorporate the treatment of Restricted Interest and Financing Expenses (RIFE) and employer deductions for non-qualified securities within the loss continuity calculation. A new RIFE section has been added to the Non-Capital Loss continuity. Line 002 captures the RIFE deducted for the tax year under paragraph 111(1)(a.1) of the Income Tax Act, and line 012 captures the employer deduction for non-qualified securities under paragraph 110(1)(e). These amounts are included in the subtotal of deductions (lines 002 to 012) when calculating the closing non-capital loss balance. The schedule now also clarifies that the Capital Losses column reflects gross amounts. The updated form also includes revised instructions noting that if the Alberta RIFE balances differ from federal amounts, the Alberta-specific amounts should be entered. SCT1 – Saskatchewan Corporation Capital Tax Return The Saskatchewan Corporation Capital Tax Return has been updated to reflect two significant changes from the Saskatchewan Budget. First, the Goodwill Allowance (line 550 – Schedule B, Part 2) has been removed from the form entirely, along with all sections and cross-references that previously depended on it. The Investment Allowance summary table and Schedule D calculations have been updated to reflect this removal. Second, effective April 1, 2026, Saskatchewan has updated its Corporation Capital Tax (CCT) rates: the CCT rate for large financial institutions increases from 4% to 6%, the CCT for small financial institutions has been eliminated, and the CCT rate for commercial Crown corporations is reduced from 0.6% to 0.3%. The software now automatically calculates the blended rate for tax years that straddle the April 1, 2026 effective date. T25QCC – Joint Election for Capital Gains Deduction in Respect of a Qualifying Cooperative Conversion (New!) T25QCC is a new form for the 2025 and later tax years. It is used by a worker cooperative (WC) to jointly elect with all individuals who disposed of shares of a subject corporation under a qualifying cooperative conversion (QCC), as described under subsection 110.62(1). The form serves as the joint election required for those individuals to claim the capital gains deduction determined under subsection 110.62(2), and includes sections for identification, election details, subject shares and disposition details, the penalty calculation for late-filed elections, and election certification. AExempt – Alberta Exemption (AT100) A new option has been added to the AT100 form: "File even if exempt from filing AT1?" This allows corporations that otherwise meet the Alberta filing exemption criteria to override the exemption and transmit their AT1 via NetFile. Previously, ProFile would prevent AT1 transmission for exempt corporations; this new option gives preparers the ability to file when they determine it is appropriate to do so despite the exemption. Minor form updates S16S56S62 S5NS (S346)S429AT1AConsent (AT4930)AS4AS15AS16CO-737.18.CI Removed forms S65 |
| FX/Q | GST190 - GST/HST New Housing Rebate Application for Houses Purchased from a Builder Form GST190 is filed by an individual who bought a newly built (or substantially renovated) home or share in a co-op from a builder and is claiming a GST/HST rebate. The form already covered the New Housing Rebate (NHR) and has now been updated to add the new first-time home buyers' (FTHB) GST/HST rebate (capped at $50,000). It now also includes X1 / X2 deduction fields on each section's "Total" line so the claimant can subtract any GST/HST or provincial new housing rebate already claimed for the same house. GST190WS - GST190 Calculation Worksheet The GST190-WS (GST190 Calculation Worksheet) has been restructured from 3 parts to 6 sections to support the new first-time home buyers' (FTHB) GST/HST rebate (capped at $50,000). Sections 1–3 retain the existing GST/HST New Housing Rebate (NHR) calculations; new Sections 4–6 add the FTHB rebate calculations for each application type (1A/2, 1B/5, and Type 3). New routing instructions at the top of the form direct claimants to the appropriate section based on their rebate type and application type. GST191 - GST/HST New Housing Rebate Application for Owner-Build Houses The form has been updated to add the claim for the first-time home buyers' (FTHB) GST/HST rebate. It is filed by an individual who built (or substantially renovated) their own home and is claiming a GST/HST rebate on materials and services. With the 2025 changes, the claimant now has two possible rebates to consider on the same form: GST/HST New Housing Rebate (NHR) — the long-standing 36% rebate of the federal GST/HST paid, capped at $6,300, available when the home's fair market value (FMV) at substantial completion is under $450,000. First-time Home Buyers' (FTHB) GST/HST Rebate — the new rebate, up to $50,000, available when this is the claimant's first home and FMV is under $1,500,000. Claimants may take it instead of, or in addition to, the NHR. The new lines X1 and X2 let the claimant subtract any GST/HST or provincial new housing rebate they have already claimed elsewhere for the same house. GST191WS - Construction Summary Worksheet The new form removed the obsolete sales tax columns in Part C: GST paid at 6% GST paid at 7% HST paid at 12% HST paid at 14% before 2008 HST paid at 15% before 2007 The available sales tax columns are now grouped into the same table: GST paid at 5% HST paid at 13% HST paid at 14% HST paid at 15% T2094 - Registered Charities Application to Reduce Disbursement Quota A privacy statement has been added to the form. Applicants must check the acknowledgment box below the statement to confirm they have read it. Minor form updates T100AT101AT400AT2057TX19GST44ON100 |
| Systems | Software Update Preferences ProFile now offers more control and flexibility over how software updates are checked and downloaded. A new Software Updates setting is available under Environment Options, with three options to choose from: Updates off: ProFile will not check for updates or display update notifications in the background. Updates can still be checked manually anytime via Online > Check for Updates. Updates on – Manual download: ProFile checks for updates in the background and displays a status ribbon “Download Update” at the top of the screen when a new version is available. When ready, click on the “Download Update” ribbon button or go to Online > Check for Updates. The download runs quietly in the background so work can continue uninterrupted. A prompt to install will appear once the download is complete and status of ribbon will be updated to “Install Update”. Updates on – Automatic download: ProFile checks for updates every 3 hours and automatically downloads the latest version in the background — no action needed. The status ribbon reflects the current update status at all times. Once the download is completed automatically by ProFile, the status ribbon gets updated to “Install Update” status and on click of this, a prompt to install will appear. Installation is always user-initiated and will never happen automatically. Existing update preferences will carry forward automatically upon upgrade — no reconfiguration needed. These settings can be changed at any time from Environment Options. |
| Coming Soon! | T1/TP1 T1/TP1 2026 module |
| Module | Content |
| Introduction | Version 2025.4.7 Download the latest release of the ProFile Suite, version 2025.4.7. T1/TP1 highlights include: • Plan/TP1 Planner update • 2026 rate update T3/TP646 highlights include: • T3QDT is now out of DRAFT • 2026 rate update |
| T1/TP1 | Plan/TP1Plan The federal and Québec planners reflect updated non-refundable credit amounts and income tax brackets for 2026. Provincial and territorial tax rates have been updated for all regions. Use the Tax Planner to prepare a projection of your client’s position for the 2026 taxation year. 2026 Rate Update T1 General is calculated with the most recent 2026 rates when tax year 2026 is chosen on the INFO page. The 2026 rate options are now available in the tax year dropdown within the 2025 T1 module. Rates applicable to the 2026 taxation year are those known as of the 2025.4.7 release date. Any changes resulting from subsequent federal, provincial, and territorial announcements will be integrated into future updates. Ontario Trillium Benefit – Lump Sum Threshold Update The lump sum payment threshold for the Ontario Trillium Benefit has been updated in the 2025 T1 module to reflect the current-year amount. |
| T3/TP646 | 2026 Rate Update The T3 Trust Income Tax and Information Return is calculated with the most recent 2026 rates when the fiscal year end date on the INFO page falls in the 2026 calendar year. Rates applicable to the 2026 taxation year are those known as of the 2025.4.7 release date. Any changes resulting from subsequent federal, provincial, and territorial announcements will be integrated into future updates. T3QDT is now available T3QDT - Joint Election for a Trust to be a Qualified Disability Trust has been released and is now available without the DRAFT watermark. |
| Coming Soon! | T2/CO-17: 2024–2026 T2 module for fiscal year ends on or before October 31, 2026 |
What's new in ProFile release 2025.4.1
| Module | Content |
| Introduction | Version 2025.4.1 Download the latest release of the ProFile Suite, version 2025.4.1. T1/TP1 highlights include: ● Fixed issue with 2024 to 2025 carryforward |
| T1/TP1 | Fixed issue with 2024 to 2025 carryforward We’ve fixed an issue where some customers, after updating to version 2025.4.0 are facing an error when attempting to carryforward coupled returns from 2024 into the 2025 T1 module. |
| Coming Soon! | T1/TP1: ● 2026 T1 and TP1 planner |
What's new in ProFile release 2025.4.0
| Module | Content |
| Introduction | Version 2025.4.0 Download the latest release of the ProFile Suite, version 2025.4.0. T1/TP1 highlights include: ● EFILE-certified T1 multiple-jurisdiction returns ● 2025 T1 form updates T3/TP646 highlights include: ● 2025 T3 form updates ● 2026 rate update FX/Q highlights include: ● UHT-2900Filing Requirement Ended ● 2026 rate updates ● Minor form and slip updates |
| T1/TP1 | Multiple-jurisdiction tax returns Multiple-jurisdiction tax returns are now EFILE-certified for the 2025 tax year. This includes returns with the following: ● T2203 ● All provincial multiple-jurisdictional forms |
| T3/TP646 | 2026 rate updates The rates applicable to the 2026 taxation year are those known as the release date. Any changes resulting from additional federal, provincial, and territorial announcements will be integrated into future updates. |
| FX/Q | UHT-2900 Filing Requirement Ended Following the proposed legislation in Bill C-15 and the 2025 Budget, the Underused Housing Tax is proposed to be eliminated effective as of the 2025 calendar year. Consequently, the CRA has indicated that it doesn't expect previously impacted property owners to file returns or pay the tax for 2025 and future years. ProFile has updated this form to "informational" status. Please don't submit this form for the 2025 tax year or any future years. 2026 rate updates The rates applicable to the 2026 taxation year are known as of the release date. Any changes resulting from additional federal, provincial, and territorial announcements will be integrated into future updates. Minor form updates: ● PD24 Minor slip updates: ● RL1 |
| Coming Soon! | T1/TP1: ● 2026 T1 and TP1 planner |
What's new in ProFile release 2025.3.7
| Module | Content |
| Introduction | Version 2025.3.7 Download the latest release of the ProFile Suite, version 2025.3.7. Not all forms for the 2025 taxation year are released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. T1/TP1 highlights include: ● Fixed issue with AIIP/RIIP audit incorrectly triggering |
| T1/TP1 | Fixed issue with AIIP/RIIP audit incorrectly triggering We’ve fixed an issue where following the update to Version 2025.3.5, some T1 2025 users may have encountered auditor warning messages on Asset forms requesting to confirm if an asset addition in the year was AIIP or RIIP even when the form wasn't in use or contained no asset additions for the year. This was happening upon opening files that were created prior to the 2025.3.5 release. This update helps make sure that customers are only prompted when there has been an addition in the year and both the AIIP and RIIP indicators have been selected for that specific addition. |
| Coming Soon! | T1/TP1: ● Multi-jurisdictional filing ● Final version of TP726.7 |
What's new in ProFile release 2025.3.5
| Module | Content |
| Introduction | Version 2025.3.5 Download the latest release of the ProFile Suite, version 2025.3.5. Not all forms for the 2025 taxation year are released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. T1/TP1 highlights include: ● 2025 T1/TP1 form updates ● Removal of DRAFT watermark on self-employment and rental schedules ● Revised T777 CCA table to include proposed the reaccelerated investment incentive property (RIIP) measures introduced in Bill C-15. ● GST/HST credit is now the Canada Groceries and Essentials Benefit (CGEB) (New!) T2 highlights include: ● ProFile T2 now carries forward information from 2025 files created with Cantax T2 (v2025.2.307.126), Corporate Taxprep (2025 v2.0), and DT Max T2 (v29.01) T3/TP646 highlights include: ● 2025 T3 form updates ● Removal of DRAFT watermark on self-employment and rental schedules FX/Q highlights include: ● Minor form and slip updates |
| T1/TP1 | Bill C-15 changes to accelerated CCA and immediate expensing The self-employment and rental schedules T2125CCA, T2042CCA, T2121CCA, T1163-T1273CCA, T776CCA, ResourceCCA, and the corresponding Québec worksheets (if applicable) are updated to reflect the measures introduced in Bill C-15. The Bill reinstates the accelerated investment incentive, now called reaccelerated investment incentive (RIIP). It also reinstates immediate expensing for certain capital cost allowance (CCA) classes. The RIIP and immediate expensing allows qualifying property acquired on or after January 1, 2025 and available for use before 2030. The measure would be phased out starting in 2030, and fully eliminated after 2033. Productivity-enhancing assets: An additional enhanced first-year allowance for new additions of property to CCA Classes 44, 46, and 50 acquired after April 15, 2024, and available for use before January 1, 2027. These additions would be eligible for a 100% first-year deduction. CCA Class 44: Patents and intellectual property: CCA Class 46: Data network infrastructure equipment and related systems CCA Class 50: General-purpose electronic data processing equipment (computer hardware) and systems software Purpose-built residential rentals The Government of Canada proposes to provide an accelerated CCA rate of 10% (up from 4%) for new eligible purpose-built residential rentals. These projects would have to begin construction after April 15, 2024, and before 2031, and the property be available for use before 2036. While these updates reflect the final form versions provided by the CRA, please be advised that the Bill C-15 measures remain proposed legislation currently undergoing parliamentary review. If you entered data or added new assets in a previous release, we recommend revisiting these forms to verify that any qualifying property is correctly identified to trigger the new accelerated investment rules and 100% immediate expensing where applicable. Revised T777 CCA table The CRA released a new version of the T777, Statement of Employment Expenses, on February 26th with an updated CCA table to incorporate the proposed reaccelerated investment incentive property (RIIP) measures introduced in Bill C-15. The CCA calculations now reflect the new measures. We recommend that users who previously entered employment expenses review their CCA claims to ensure the new calculations are applied correctly before filing. This ensures that any qualifying assets receive the correct accelerated treatment. GST/HST credit is now the Canada Groceries and Essentials Benefit (CGEB) (New!) The GST/HST credit worksheet (GST) is renamed the Canada Groceries and Essentials Benefit (CGEB). The estimated benefit is updated to reflect a 25% increase to the July 2026-June 2027 payment period. A paragraph has been added to the Letter template to inform individuals that they may be eligible for an extra 50% top up payment if they received the GST/HST credit in the previous year. The extra payment will be paid by June 2026. |
| T2 | Cantax, Taxprep, and DT Max to ProFile carry forward ProFile T2 now carries forward information from 2025 files created with the following software: ● Cantax T2 - v2025.2.307.126 (Released November 20, 2025) ● Corporate Taxprep - 2025 v2.0 (Released December 8, 2025) ● DT Max T2 - v29.01 (Released December 17, 2025) |
| T3/TP646 | Bill C-15 changes to accelerated CCA and immediate expensing The self-employment and rental schedules T2125, T2042, T2121, T776 and the corresponding Québec forms TP80B, TP80.AP (Farming and Fishing) and TP128 are updated to reflect the accelerated CCA and immediate expenses introduced in Bill C-15. These updates show the final versions provided by the CRA. However, the Bill C-15 measures are still proposed legislation that is being reviewed by parliament. If you entered data or added new assets in a previous release, we recommend revisiting these forms to verify that any qualifying property is correctly identified to trigger the new accelerated investment rules and 100% immediate expense where applicable. |
| FX/Q | Minor form updates: ● TP-64.3 Minor slip updates: ● RL1Detail ● T4Detail |
| Coming Soon! | T1/TP1: ● Multi-jurisdictional filing |
What's new in ProFile release 2025.3.1
| Version 2025.3.1 Download the latest release of the ProFile Suite, version 2025.3.1. Release highlights include: Stability and reliability improvements: This update fixes problems with the application's stability and reliability. It also improves the reliability of common workflows. Additional fixes to reduce the likelihood of unexpected interruptions during use that some customers experience. |
What's new in ProFile release 2025.3.0
| Module | Content |
| Introduction | Version 2025.3.0 Download the latest release of the ProFile Suite, version 2025.3.0. This release is in preparation for the Canada Revenue Agency (CRA) opening EFILE services on February 23, 2025. Not all forms for the 2025-taxation year are released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. T1/TP1 highlights include: ● 2025 T1 form updates ● 2025 TP1 form updates ● Notice of Assessment (NOA) via tax software no longer available (New!) ● EFILE-certified T1 nonresident returns ● T1 EFILE from 2018 to 2025 tax years ● T1 ReFILE from 2022 to 2025 tax years ● T1134 EFILE from 2021 to 2025 tax years ● T1135 EFILE from 2018 to 2025 tax years ● T1 Barcode and KFS ● T1PAD EFILE (Pre-Authorized Debit) for 2025 tax year ● TP1 NETFILE from 2022 to 2025 tax years ● TP1 barcode ● RQ Import from 2022 to 2025 tax years ● TP-80.AP - Farming or Fishing Income and Expenses is now available (New!) ● EFILE Hard Block Errors T2 highlights include: ● Québec CO-17 - Corporation Income Tax Return updated for 2025 filing ● AgriStability forms updated in T2 ● Québec forms CO-1029.8.36.EK, RD-1029.8.CR, RD-1029.8.EN, and TP-1079.8.BE are now available (New!) T3/TP646 highlights include: ● T3RET/T3M/T3RCA EFILE from 2021 to 2025 tax years ● T3P EFILE for 2023 to 2025 tax years ● T3PRP EFILE for 2023 to 2025 tax years ● T1135 EFILE for 2022 to 2025 tax years ● Section 216 return is available for T3 Electronic Filing ● T3MJ paper filing ● 2025 form updates ● LM-91 is now available (New!) ● TP-80.AP - Farming or Fishing Income and Expenses is now available (New!) FX/Q highlights include: ● T5013 is certified for paper and XML filing ● T3010 is certified for paper and XML filing ● TP600 is certified for paper filing ● TP985.22 is certified for paper filing ● TP518’s new version (2025-12) is certified for paper filing ● TP529’s new version (2025-12) is certified for paper filing ● TP614’s new version (2025-12) is certified for paper filing ● T5013 forms T5013S74, T5013S76, and T5013S78 are now available (New!) ● Special Elections and Returns (SERs) T2057 and T2059 are certified for paper and XML filing System highlights include: ● Various product improvements |
| T1/TP1 | I. Federal Tax Changes Bill C-15 proposed changes to accelerated CCA and immediate expensing On November 18, 2025, the federal government tabled Bill C-15, which includes several measures related to accelerated capital cost allowance (CCA) and other immediate expensing measures. These include a temporary measure to reintroduce the accelerated investment incentive (referred to as reaccelerated investment incentive property or RIIP) and allow taxpayers to claim accelerated first-year CCA deductions, enhanced CCA for purpose-built rental housing and immediate expensing for: ● Manufacturing and processing (M&P) machinery and equipment ● Clean energy equipment ● Zero-emission vehicles ● Productivity-enhancing assets We're currently updating our self-employment and rental schedules to reflect these proposed measures. As a result, the following forms will remain in Draft for this release: T2125CCA, T2042CCA, T2121CCA, T1163-T1273CCA, T776CCA, ResourceCCA, and the corresponding Québec worksheets (if applicable). You may still enter data into these forms; however, the final version with finalized CCA calculations will be available in our next release Changes to Viewing Notice of Assessments in Tax software As of February 9, 2025, the CRA decommissioned the ability to deliver notice of assessments (NOA) and reassessment (NORA) in the Tax Software products for all future and prior tax years. If you attempt to access an NOA or NORA using our older modules (2024 and prior) it’ll return with an error. The assessments will only be available to view exclusively on the Canada Revenue Agency (CRA) portals (My Account, My Business Account, and Represent a Client). The CRA will send an email after they've received and processed the tax return. For individuals who don't have a CRA account, or have chosen to receive correspondence by mail, the CRA will send notices to the mailing address on file. For more information on how to receive the notices of assessment and reassessment, visit this CRA website. CRA Efile Security Enhancement The CRA is now implementing a mandatory security process that links your EFILE account to specific certified T1 and T3 software products. This improvement makes submissions safer by making sure returns are only sent through the software associated with your EFILE account. For the current filing season, the CRA has automatically associated your EFILE account with this software based on your historical usage. However, if you attempt to submit a T1 or T3 return using a product not currently linked to your account, the transmission will fail and the return will be rejected. If you need to update your software preferences or confirm if ProFile is linked to your account, please contact your CRA EFILE helpdesk immediately to ensure uninterrupted filing Mandatory Efile blocking on certain errors We have integrated mandatory EFILE validation blocks as required by the Canada Revenue Agency (CRA). These blocks are designed to prevent the submission of returns that contain critical formatting errors or missing mandatory fields that'd result in an automatic rejection by the CRAs systems. These errors will be listed specifically as CRA EFILE Blocking Error within the Efile tab of the Auditor. Users must resolve all such errors before the software will allow the electronic transmission of the return. For more info, check out this article. Non-resident tax returns Returns for emigrants, deemed residents (Section 250) (excluding deemed residents of Quebec) and for non-residents filing under section 116 are now EFILE-certified for the 2025 tax year. Tax rate change The lowest marginal individual income tax rate has been adjusted for 2025. Effective July 1, 2025, the rate decreases from 15% to 14%. Because this change is implemented mid-year, the effective full-year lowest marginal individual income tax rate for 2025 will be 14.5%. Importantly, the rate used for most non-refundable tax credits remains tied to the lowest marginal individual income tax rate for the year.. Top-up tax credit For the 2025 tax year, a new non-refundable tax credit is available to individuals at line 34990. This credit is designed to maintain an effective 15% rate for certain non-refundable tax credits claimed on income amounts exceeding the first income tax bracket threshold, which is $57,375 for 2025. Individuals can claim this credit if they are claiming specific non-refundable tax credits that are impacted by the reduction of the lowest marginal individual income tax rate from 15% to 14.5% for 2025. T657 - Calculation of Capital Gains Deduction Capital gains deduction calculations for Qualifying Business Transfers or Qualifying Cooperative Conversions on T2048 are being adjusted for the following calculations on T657: ● Line 21 - Annual gains limit for 2025 in Step 1; ● Line 19 - Cumulative gains limit for 2025 in Step 2; ● Capital gains deduction calculation charts after 2023. There's a new Chart 2025 - Part 1 available for capital gains deduction calculations for the qualified farm or fishing property (QFFP) and qualified small business corporation shares (QSBCS) reported on a 2025 T3 or T5013 slip for a disposition that took place in Period 1 of 2024. The maximum capital gains deduction for such QFFP and/or QSBCS dispositions is $522,145. T2017 - Summary of Reserves on Dispositions of Capital Property Reserves from dispositions of qualifying business transfers (QBT) or qualifying cooperative conversions (QCC) after 2023 are now included in the reserve calculations on T2017. The calculations for reserves on dispositions of capital property before June 25, 2024 are now removed. II. Provincial & Territorial Tax Changes Quebec TP-80.AP - Farming or Fishing Income and Expenses (New!) The form TP-80.AP-V, Farming or Fishing Income and Expenses is a new form from Revenu Québec for this year and officially replaces the previous TP1Farming and TP1Fishing in ProFile software. Users will see TP80.APFarming and TP80.APFishing form names as applicable, but also retain the option of searching TP1Farming and TP1Fishing with Form Explorer. Import of RQ data for 2025 The following new items are included with import of RQ data and will be shown on the Data Import Summary form in ProFile: ● Direct deposit indicator ● Impairment certificate indicator (TP-752.0.14) ● Dependent senior status and start date (TPZ-1029.MD.A) (if applicable) |
| T2 | Federal Schedules AGRI - T2 AgriStability and AgriInvest AgriStability forms are updated to support 2025 tax year filings. S8 - Capital Cost Allowance To reflect annual regulatory updates for Schedule 8, the Capital Cost Allowance (CCA) ceiling for Class 10.1 passenger vehicles has been increased from $38,000 to $39,000 before tax for all acquisitions made on or after January 1, 2026. Bill C-15 On November 4, 2025, the Canadian federal government tabled Bill C-15, which reinstates the accelerated investment incentive, now called reaccelerated investment incentive (RII), and immediate expensing of manufacturing and processing machinery and equipment, clean energy equipment, and zero-emission vehicles. The RII and immediate expensing would be available for qualifying property acquired on or after January 1, 2025, and that becomes available for use before 2034, with a four-year phase-out for property that becomes available for use after 2029. The CRA has communicated to us that these changes can now be taken into account when preparing returns. They will publish a revised Schedule 8 to support these changes at a future date, which we will include in our software when made available. Until then, you can manually override the CCA amounts for 2025 and 2026 acquisitions eligible under Bill C-15. S63 - Return of Fuel Charge Proceeds to Farmers Tax Credit To reflect the conclusion of the federal fuel charge on April 1, 2025, a new notice validation is added to Schedule 63 regarding the Return of Fuel Charge Proceeds to Farmers Tax Credit. This validation informs users that the 2024-25 period represents the final credit for eligible claimants, as the Minister of Finance has officially set a nil payment rate per $1,000 of eligible farming expenses incurred during the 2025 calendar year across all designated provinces. Québec Schedules CO-17 - Corporation Income Tax Return Effective for taxation years ending after December 30, 2025, Revenu Québec has introduced a mandatory disclosure requirement for corporations holding foreign assets. This selection is an indicator for the new form TP-1079.8.BE (see note below for more detail). CO-1029.8.21.22 - Tax Credit for Technological Adaptation Services Revenu Québec has updated the Tax Credit for Technological Adaptation Services form. Our latest version also notifies users of specific date eligibility requirements, confirming that the tax credit is only available for taxation years or fiscal periods beginning before March 26, 2025. This notification serves to guide the transition between incentive programs; for any periods starting after March 25, 2025, the form directs corporations to the new Tax Credit for R&D and Pre-Commercialization (RD-1029.8.CR) document. The aforementioned updated version effectively manages this phase-out while ensuring that qualified expenditures for active contracts with eligible technology transfer centres (CCTT or LTC) remain accurately reported for the remaining eligible period. CO-1029.8.36.EK - Cumulative Limit Allocation Agreement for the Tax Credit Relating to Resources (New!) Revenu Québec has introduced a new form, CO-1029.8.36.EK, titled the Cumulative Limit Allocation Agreement for the Tax Credit Relating to Resources. This form is mandatory for associated corporations whose taxation years begin after March 25, 2025, and who wish to reach an agreement on allocating the $100-million cumulative limit used to calculate the tax credit relating to resources. It must be signed by authorized representatives of each associated corporation and enclosed with the corporation's income tax return (CO-17). CO-1029.8.36.EM - Tax Credit Relating to Resources Revenu Québec has updated the Tax Credit Relating to Resources form to reflect legislative enhancements for the development stage of mining projects and initiatives involving critical and strategic minerals. This version introduces a structural split to manage expenditures incurred before and after the March 25, 2025 transition date. Expanded Eligibility: Development expenses for mining resources are now eligible for the credit to better support projects in their early stages. Revised Credit Rates: The general credit rate is revised to 22.5% for corporations. ● An enhanced rate of 45% is available for projects involving critical and strategic minerals (CSM) until December 31, 2029. New Expense Limit: A new cumulative limit of $100 million on eligible expenses per five-year period has been introduced. Flow-Through Share Repeals: To align with federal measures, two additional 10% deductions for mineral exploration and the additional capital gains exemption for certain resource properties have been repealed for shares issued or dispositions occurring after March 25, 2025. RD-1029.7 - Tax Credit for Salaries and Wages (R&D) Revenu Québec has updated the Tax Credit for Salaries and Wages (R&D) form. Our latest version notifies users of specific date eligibility requirements, confirming that the tax credit is only available for taxation years or fiscal periods beginning before March 26, 2025. This notification serves to guide the transition between incentive programs; for any periods starting after March 25, 2025, the form directs corporations to the new Tax Credit for R&D and Pre-Commercialization (RD-1029.8.CR) form. The aforementioned updated version effectively manages this phase-out while ensuring that qualified R&D salaries and wages incurred under the original program parameters are accurately reported for the duration of the eligibility window. RD-1029.8.9.03 - Tax Credit for Fees and Dues Paid to a Research Consortium Revenu Québec has updated the Tax Credit for Fees and Dues Paid to a Research Consortium form. Our latest version also notifies users of specific date eligibility requirements, confirming that the tax credit is only available for fees or dues paid in a taxation year or fiscal period beginning before March 26, 2025. This notification serves to guide the transition between incentive programs; for any periods starting after March 25, 2025, the form directs corporations to the new Tax Credit for R&D and Pre-Commercialization (RD-1029.8.CR). The aforementioned updated version effectively manages this phase-out while ensuring that cumulative fees or dues from earlier periods are accurately reported for the duration of the eligibility window. RD-1029.8.CR - Tax Credit for R&D and Pre-Commercialization (New!) Revenu Québec has introduced the new RD-1029.8.CR form to support the Research, Innovation and Commercialization Tax Credit (CRIC). This program consolidates and replaces eight previous R&D tax measures with a streamlined incentive for activities starting in 2025. The following forms in our software and their associated credits are discontinued for taxation years or fiscal periods beginning after March 25, 2025: ● RD-1029.7: Tax Credit for Salaries and Wages (R&D). ● RD-1029.8.6: Tax Credit for University Research or Research Carried Out by a Public Research Centre or a Research Consortium. ● RD-1029.8.9.03: Tax Credit for Fees and Dues Paid to a Research Consortium. ● RD-1029.8.16.1: Tax Credit for Private Partnership Pre-Competitive Research. RD-1029.8.EN - Agreement Regarding the Expenditure Limit for the Tax Credit for R&D and Pre-Commercialization (New!) Revenu Québec has introduced the new RD-1029.8.EN form, designed for associated corporations to reach an agreement on the allocation of the $1,000,000 annual expenditure limit for the Tax Credit for R&D, Innovation, and Pre-commercialization. TP-1079.8.BE - Foreign Property Return (New!) Revenu Québec has introduced a new form required for Québec-resident individuals, corporations, trusts, and partnerships that held "designated foreign property" (such as offshore funds, foreign stocks, or debt) with a total cost exceeding CAD 100,000 at any point during the year. The form must be submitted by the filer’s tax deadline to avoid potential extensions to the standard reassessment period. Additional minor form updates Alberta ● AS10 ● AS13 Federal ● S1Auto ● S322 (S5PE) ● S341 ● T1197 (S423) Québec ● CO-130.A ● CO-1027 ● CO-1029.8.33.13 ● CO-1029.8.33.TE ● CO-1029.8.36.DA ● CO-1029.8.36.II ● CO-1029.8.36.5 ● CO-1029.8.36.7 ● CO-737.18.CI ● COZ-1027.P ● RD-1029.8.16.1 ● RD-1029.8.6 ● TP-21.4.39 ● TP-1086.R.23.12 |
| T3/TP646 | I. Federal Tax Changes The following forms are marked as “DRAFT” while we work on updating the CCA calculations according to the proposed measures in Bill C-15 : ● T2125 ● T2042 ● T2121 ● T776 ● TP128 ● TP80B The following forms are marked as “DRAFT” while we await the final versions from CRA : ● T244 ● T24EOT II. Provincial & Territorial Tax Changes TP656 - Quebec TP-80.AP - Farming or Fishing Income and Expenses (New!) The form TP-80.AP, Farming or Fishing Income and Expenses is a new form from Revenu Québec for this year and officially replaces the previous TP1Farming and TP1Fishing in ProFile software. Users will see TP80.APFarming and TP80.APFishing form names as applicable, but also retain the option of searching TP1Farming and TP1Fishing with Form Explorer. LM-91 - Self-Declaration for the Application of the Charter of the French Language (New!) The form LM-91-V, Self-Declaration for the Application of the Charter of the French Language, is a new form for individuals or individuals in business to which an exception under the Charter of the French language applies. Under the Charter, Revenu Québec must communicate in French except in certain situations. This form is used to officially declare that an exception applies and that you wish to receive services in English. If completing LM-58.1.2-V (Application for a Trust Identification Number), and the main trustee is an individual who'd like to be served in English, they have to complete form LM-91-V and include it with LM-58.1.2-V (unless they have already sent in form LM-91-V or filed their self-declaration in My Account for individuals). |
| FX/Q | T5013FIN - Partnership Financial Return This form has been updated to include references to the new T5013SCH74 and T5013SCH76. T5013Detail - T5013 Details & T5013Worksheet - T5013 Partnership Worksheet Three new sections are added: ● Clean Hydrogen ITC from T5013SCH74 ● Clean Technology Manufacturing ITC from T5013SCH76 ● Carbon Capture, Utilization, and Storage ITC from T5013SCH78 T5013SCH1 - Net Income (Loss) for Income Tax Purposes The following lines have been updated: ● Other additions (previously lines 600-604 and 290-294) are now consolidated into lines 605 and 295 ● Other deductions (previously lines 700-704 and 390-394) are now consolidated into lines 705 and 395 T5013SCH6 - Summary of Dispositions of Capital Property The form has been simplified for the 2025 tax year. The separate reporting sections for Period 1 and Period 2 capital gains have been removed. These periods were temporarily required in 2024 to account for the then-proposed change in the capital gains inclusion rate. The capital gains inclusion rate remains at 50% for 2025. T5013SCH74 - Clean Hydrogen Investment Tax Credit (New!) This form is for partnerships to allocate the clean hydrogen investment tax credit (ITC) to its members. T5013SCH63 - Return of Fuel Charge Proceeds to Farmers Tax Credit To reflect the conclusion of the Federal fuel charge on April 1, 2025, a new notice validation is added to T5013 Schedule 63 regarding the Return of Fuel Charge Proceeds to Farmers Tax Credit. This validation informs users that the 2024-25 period represents the final credit for eligible claimants, as the Minister of Finance has officially set a nil payment rate per $1,000 of eligible farming expenses incurred during the 2025 calendar year across all designated provinces. T5013SCH76 - Clean Technology Manufacturing Investment Tax Credit (New!) This form is for partnerships to allocate the clean technology manufacturing investment tax credit (ITC) to its members. T5013SCH78 - Carbon Capture, Utilization, and Storage Investment Tax Credit (New!) This form is for partnerships to allocate the carbon capture, utilization, and storage investment tax credit (ITC) to its members. T5013SCH8 - Capital Cost Allowance To reflect annual regulatory updates for Schedule 8, the Capital Cost Allowance (CCA) ceiling for Class 10.1 passenger vehicles has been increased from $38,000 to $39,000 before tax for all acquisitions made on or after January 1, 2026. TP-1015.3 - 2026 Source Deductions Return Updated the 2026 Source Deductions Return in alignment with the latest Revenu Québec version. Numerous provincial credit amounts have been indexed by approximately 2% to reflect inflation adjustments. The Basic Personal Amount, Child Base Amount, and Family Fixed Amount have all increased accordingly. The Monthly Child Assistance amount has been adjusted upward. Both the Maximum Retirement Income limit and the Spouse Maximum Retirement Income limit (Line 81) have been raised to the same new threshold. The Maximum Work Income Credit and the Work Premium Threshold (Line 141) have also been increased. TP-1079.8.BE - Foreign Property Return (New!) Revenu Québec has introduced a new form required for Québec-resident individuals, corporations, trusts, and partnerships that held "designated foreign property" (such as offshore funds, foreign stocks, or debt) with a total cost exceeding $100,000 CAD at any point during the year. The form must be submitted by the filer’s tax deadline to avoid potential extensions to the standard reassessment period. TP-600.SA The revised form has a new field, A.1 Trust account number. TP-985.22 - Information Return for Registered Charities and Other Donees Disbursement Quota Adjustment (Schedules A & B) The latest version now reflects the removal of line 112 (Schedule A) and line 212 (Schedule B) regarding "Amounts Deemed Spent" by Revenu Québec. This update supersedes the previous version of the return to reflect that organizations can no longer request this relief for taxation years beginning after December 31, 2022. Additional minor form updates Federal ● PD27 ● T1223 ● T5013SCH8 ● T5013SCH63 ● T5013SCH75 ● T5013SCH444 ● FIN146 ● FIN542P ● FIN542S ● AT107 ● AT108 ● AT109 Québec: ● TP-21.4.39 ● TP518 ● TP529 ● TP614 ● TP600SB ● TP600SD ● TP600SE ● TP600SF ● TP985.22SC ● TP985.22SD Minor slip updates ● T2200 ● T4A-RCA ● T5013-INST |
| Coming Soon! | T1/TP1: ● Multi-jurisdictional filing ● Final versions of T2125, T2042, T2121, T1163-T1273, T776, Resource and the corresponding Québec worksheets T3/TP646: Final versions of T2125, T2042, T2121, T1163-T1273, T776, Resource and the corresponding Québec worksheets |
| Module | Content |
| Introduction | Version 2025.2.7 Download the latest release of the ProFile Suite, version 2025.2.7. Forms for the 2025-taxation year aren't being released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits don't use this release to begin entering data for their clients. T1/TP1 highlights include: ● Auto-fill My Return (AFR) from 2016 to 2025 tax years ● 2025 T1 form updates ● 2025 TP1 form updates T3/TP646 highlights include: ● TP646 paper authorization ● 2025 T3/TP646 form updates FX/Q highlights include: ● Updated federal slips and forms System highlights include: ● Various product improvements |
| T1/TP1 | Federal Tax Changes Auto-fill My Return (AFR) for 2025 ProFile has been updated to let authorized representatives download client data for the 2025 tax year. The delivery of 2025 tax year data and slips will be available in production on Monday, February 9, 2026, when the CRA is expected to enable Auto-fill My Return. The following slips and information will be available to download: ● T4 ● T4A ● T4A(OAS) ● T4A(P) ● T4E ● T4FHSA ● RC62 ● RC210 ● T4RSP ● T4RIF ● T5007 ● T3 ● T5 ● T5008 ● T1204 ● T2202 ● T5013 ● ABIL ● RRSP contribution receipt ● PRPP contribution receipt ● Rent Assist, formerly Manitoba Shelter Allowance for elderly renters ● Unused Tuition amounts available ● Canada Training Credit Limit ● Installments paid ● FHSA carryforward for current year |
| T3/TP646 | Revenu Québec Approval of 2024 TP-646 Revenu Québec has approved the paper filing of 2025 TP-646 trust returns. Consequently, the DRAFT watermark has been removed from most TP-646 forms. However, the watermark remains on the TP80, TP80farming, and TP80fishing forms, and these will be updated in a future release.e. Removed forms in the 2025 T3/TP646 module ● QSA1 - Election for certain trusts regarding taxable capital gains |
| FX/Q | Form Updates - T4ARCASlip - T4ARCANotes |
| Systems | Various product improvements |
| Coming Soon! | T1/TP1 ● T1 Barcode, and T1 condensed ● TP1 barcode ● 2025 T1 EFILE ● 2025 T1135 EFILE ● 2025 T1134 EFILE ● 2025 TP1 NETFILE ● 2025 AFR (Auto-fill My Return) EFILE ● T1PAD (pre-authorized debit) EFILE T3/TP646 ● 2025 T3RET, T3RCA, and T3M EFILE with S15 Beneficial Ownership Information ● 2025 T3P and T3PRP EFILE |
What's new in ProFile release 2025.2.7
What's new in ProFile release 2025.2.5
| Module | Content |
| Introduction | Version 2025.2.5 Download the latest release of the ProFile Suite, version 2025.2.5. Forms for the 2025-taxation year aren't being released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits don't use this release to begin entering data for their clients. T1/TP1 highlights include: ● 2025 T1 form updates ● 2025 TP1 form updates ● 2025 TP1 paper filing ● TP1079.8.BE and LM-91 are now available (New!) T3/TP646 highlights include: ● 2025 T3 slip, NR4 slip XML filing ● RL-16 slip paper filing and electronic transmission ● 2025 T3/TP646 form updates ● TP1079.8.BE and T3AO are now available (New!) FX/Q highlights include: ● Updated Quebec RL slip paper and web service filing ● Updated Federal and Quebec Forms System highlights include: ● Various product improvements |
| T1/TP1 | I. Federal Tax Changes T1206 Tax on Split Income For multi-jurisdiction returns, the fixed income allocation rate of 100% on line 56 has been removed for residents of Alberta, and will instead use the specific percentage calculated in Part 1 of Form T2203. The form has expanded tax on split income for multi-jurisdiction returns to now include income allocated to Alberta and Nova Scotia II. Provincial & Territorial Tax Changes Quebec TP-1 ProFile is now authorized by Revenu Québec for paper filing and mailing of the 2025 TP-1 income tax return (including the schedules of the return and any other required forms) to Revenu Québec. TP1079.8.BE - Québec Foreign Property Return (New!) The form TP-1079.8.BE-V, Foreign Property Return, is a brand-new, mandatory filing requirement for Québec residents that hold foreign property. It's the Québec equivalent to the Federal T1135. Taxpayers residing in Québec must report designated foreign property held outside Canada if the total cost was more than $100,000 (Canadian) at any time during the taxation year. If you answered Yes to the question about foreign property on line 25 of the TP-1 and completed the Federal T1135, the information will be transferred to the TP1079.8.BE. It'll be NetFiled with the TP-1 return— it cannot be filed separately from the return. This form must be filed on or before the due date of the filer's income tax return. LM-91 - Self-Declaration for the Application of the Charter of the French Language (New!) The form LM-91-V, Self-Declaration for the Application of the Charter of the French Language, is a new form for individuals or individuals in business to which an exception under the Charter of the French language applies. Under the Charter, Revenu Québec must communicate in French except in certain situations. This form is used to officially declare that an exception applies and that you wish to receive services in English. If a TP-1 income tax return is being filed for the first time and English has been selected as the language of correspondence on the Info form, the software will prompt you to check if any of the exceptions on form LM-91 are applicable. You must then select the applicable exception on the form to submit the Self-Declaration. TP-21.4.39 - Cryptoasset Return The form TP-21.4.39-V, Cryptoasset Return has been updated with two new types of cryptoassets. Users can select the appropriate cryptoasset type from forms S3Details, T2125, T776, or the OtherIncome worksheet. TP-752.PC - Tax Credit for Career Extension Eligibility for the tax credit for career extension has changed for the 2025 taxation year. The minimum eligibility age has been raised from 60 to 65 as of December 31, 2025. |
| T3/TP646 | I. Federal Tax Changes T3AO Trust Amount Owing Remittance Voucher (New!) The T3AO is a voucher used by trusts to remit payments for amounts owed to the Canada Revenue Agency. This form will automatically generate when a trust has a balance owing on their return. ProFile will automatically populate the trust account number, trust name, trustee address, and the amount owing based on information from the return. The form will include all necessary payment processing features including an OCR line for automated processing and a QR code for convenient payment at Canada Post outlets. Administrators can now generate and print this voucher within the software for multiple payment methods including online banking, in-person payment at Canadian financial institutions, or by mail with a cheque or money order. II. Provincial & Territorial Tax Changes TP656 - Quebec TP1079.8.BE - Québec Foreign Property Return (New!) The form TP-1079.8.BE-V, Foreign Property Return, is a brand-new, mandatory filing requirement for Québec trusts that hold foreign property. It's the Québec equivalent to the Federal T1135. Trusts residing in Québec must report designated foreign property held outside Canada if the total cost was more than $100,000 (Canadian) at any time during the taxation year. This new requirement applies to taxation years and fiscal periods ending after December 30, 2025. If you answered Yes to the question about foreign property on line 31.1 of the TP-646 and completed the Federal T1135, the information will be transferred to the TP1079.8.BE. This form must be filed before the deadline for the trust's income tax return for the year or period in question. This is even if the return is not required to be filed for that year or period. The form currently can't be filed online for trusts and must be mailed to Revenu Québec. Removed form(s) ● QSA1 - Election for Certain Trusts Regarding Taxable Capital Gains |
| FX/Q | Form Updates I. Federal Forms RC1 - Request for a Business Number and Certain Program Accounts The latest version of the RC1 form now features updated general information as well as Integrated General Instructions for all GST/HST entrants. II. Provincial & Territorial Forms RL1 - Statement of Remuneration Period The following codes have been removed from the Additional information dropdown list in RL1Detail for the 2025 calendar year: ● L-11: Rate for the deduction entered in box L-12 or L-13 ● L-12: Security option deduction under section 725.2 of the Taxation Act - Benefit granted after June 24, 2024 ● L-13: Security option deduction under section 725.3 of the Taxation Act - Benefit granted after June, 2024 The following codes have been updated from the Additional information dropdown list in RL1Detail for the 2025 calendar year: ● L-9: Security option deduction under section 725.2 of the Taxation Act ● L-10: Security option deduction under section 725.3 of the Taxation Act RL1 - RL1 Summary of Remuneration Period The following has been updated in the RL1Summary for the 2025 calendar year: ● Health Services Fund: new contribution rates and calculation formulas have been implemented across all employer categories to reflect 2025 tiered payroll thresholds ● Labour Standards: the reduced 0.05% contribution rate has been removed, and the standard rate is now consistently applied at 0.06% for all applicable remuneration for all employers ● Remittance Slip: an Optical Character Recognition (OCR) line has been implemented to reflect all details associated with payment in compliance with Revenu Québec requirements RL3 - Investment Income The following codes have been removed from the Additional information dropdown list in RL3Detail for the 2025 calendar year: ● I-1: Dividends on capital gains realized before June 25, 2024 ● I-2: Dividends on capital gains realized after June 24, 2024 RL15 - Amounts Allocated to the Members of a Partnership The RL-15 details have been updated for the 2025-calendar year to allow for the reporting of the recipient's federal trust account number. This optional field is used to provide the identification number assigned to a trust by the CRA. The following codes have been added to the respective sections within the RL-15 details for the 2025 calendar year: ● Canadian Foreign Net Business Income (loss): Code 1-12: Net Business income (or loss) from cryptoassets ● Capital gains (losses): Code 12-17: Capital gains (or losses) from cryptoassets ● Gross income (or gross loss) of the partnership: Code 14-7: Gross business income from cryptoassets ● Additional Information: Code 202: Functional Currency Code The following codes have been removed from the respective sections within the RL-15 details for the 2025 calendar year: ● Capital Gain Reserve: Codes 11-5, 11-6, 11-7, and 11-9 regarding reserves for property disposed of before June 25, 2024 ● Capital gains (losses): ○ Codes 12-10 through 12-16 regarding gains, losses, or split income realized before June 25, 2024 ○ Codes 45-1 and 45-2 regarding eligible taxable capital gains amounts The following code descriptions have been updated within their respective sections of the RL-15 details for the 2025 calendar year: ● Capital Gain Reserve: Updated descriptions for Codes 11-1, 11-3, 11-4, and 11-8 regarding reserves for farm/fishing property, small business shares, other property, and qualifying business transfers, and references to the respective property disposed after June 24, 2024 ● Capital Gains (losses): ○ New descriptions for Codes 12-1, 12-2, and 12-3 about general property, resource property, and foreign capital gains. These descriptions also include income that was made after June 24, 2024. ○ Codes 12-7, 12-8, and 12-9 have been updated. These codes describe the income that is split between regular dividends, foreign dividends, and other capital gains. This income is also shown in the following table. ● Tax Credit: The RL-15 expense code descriptions for Box 73 have been updated to differentiate between expenses incurred before and after March 26, 2025, new codes A.3, B.3, A.4, B.4, C.1, and D.1 have been introduced specifically for costs related to critical minerals, other mineral resources, and natural resources incurred after March 25, 2025 TP600WS - Partnership Information and Amounts Allocated to the Members of a Partnership The following codes have been added to the respective sections within the TP600WS for the 2025 calendar year: ● Canadian Foreign Net Business Income (loss): Code 1-12: Net Business income (or loss) from cryptoassets ● Capital gains (losses): Code 12-17: Capital gains (or losses) from cryptoassets ● Gross income (or gross loss) of the partnership: Code 14-7: Gross business income from cryptoassets ● Additional Information: Code 202: Functional Currency Code The following codes have been removed from the respective sections within the TP600WS for the 2025 calendar year: ● Capital Gain Reserve: Codes 11-5, 11-6, 11-7, and 11-9 regarding reserves for property disposed of before June 25, 2024 ● Capital gains (losses): ○ Codes 12-10 through 12-13 regarding gains and losses before June 25, 2024 ○ Codes 45-1 and 45-2 regarding eligible taxable capital gains amounts The following code descriptions have been updated within their respective sections of the TP600WS for the 2025 calendar year: ● Capital Gain Reserve: Updated descriptions for Codes 11-1, 11-3, 11-4, and 11-8 regarding reserves for farm/fishing property, small business shares, other property, and qualifying business transfers, and references to the respective property disposed after June 24, 2024 ● Capital Gains (losses): Updated descriptions for Codes 12-1, 12-2, and 12-3 regarding general property, resource property, and foreign capital gains, and references to the respective income realized after June 24, 2024 ● Tax Credit: Expense code descriptions for Box 73 have been updated to differentiate between expenses incurred before and after March 26, 2025, new codes A.3, B.3, A.4, B.4, C.1, and D.1 have been introduced specifically for costs related to critical minerals, other mineral resources, and natural resources incurred after March 25, 2025 TP600 Summary - Partnership Information Return The following reporting boxes and income lines have been introduced to form TP600Sum for the 2025 calendar year: Partnership Status & Compliance ● Box 01.2 (Dissolved Partnership): A new checkbox for partnerships that have dissolved during the fiscal period. ● Box 25b (Foreign Property): A mandatory disclosure for partnerships with a fiscal year ending after December 30, 2025. It applies if the partnership held designated foreign property with a total cost exceeding $100,000 CAD at any point Cryptoasset Reporting ● Box 25a (Cryptoasset Activity): A "Yes/No" question asking if the partnership owned, received, disposed of, or used cryptoassets in any transaction ● Line 34.1 (Gross Income): Reports the total gross income generated from cryptoasset transactions ● Line 44.1 (Net Income): Reports the net income (profit/loss) derived from cryptoassets RL25 - Income from a profit-sharing plan The following codes have been removed from the Additional information dropdown list in RL25Details for the 2025 calendar year: ● B-2: Capital gains (or losses) realized before June 25, 2024 ● B-3: Capital gains (or losses) realized after June 24, 2024 ● C-3: Capital gains (or losses) realized before June 25, 2024 ● C-4: Capital gains (or losses) realized after June 24, 2024 RL31 - Information About a Leased Dwelling The RL-31 form has been updated to support up to 15 tenant entries per dwelling in compliance with Revenu Québec requirements. Other Forms updates ● LE-39.0.2 ● TD1 ● TD1AB ● TD1BC ● TD1MB ● TD1NB ● TD1NL ● TD1NS ● TD1NT ● TD1NU ● TD1ON ● TD1PE ● TD1SK ● TD1X ● TD1YT ● T4Auto/RC18 ● T4A Summary Other Quebec slips and forms updates ● IN412.A ● RL18 ● RL18Consolidated ● RL24 Blocked filing T5013 filing |
| Systems | Various product improvements |
| Coming Soon! | T1/TP1 ● T1 Barcode and T1 condensed ● TP1 barcode ● 2025 T1 EFILE ● 2025 T1135 EFILE ● 2025 T1134 EFILE ● 2025 TP1 NETFILE ● 2025 AFR (Auto-fill My Return) EFILE ● T1PAD (pre-authorized debit) EFILE T3/TP646 ● 2025 T3RET, T3RCA and T3M EFILE with S15 Beneficial Ownership Information ● 2025 T3P and T3PRP EFILE ● 2025 MR69 EFILE ● 2025 T1135 EFILE FX/Q T5013 filing |
What's new in ProFile release 2025.2.0
| Module | Content |
| Introduction | Version 2025.2.0 Download the latest release of the ProFile Suite, version 2025.2.0. Forms for the 2025-taxation year aren't currently being released by the CRA. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits don't use this release to begin entering data for their clients. T1/TP1 highlights include: ● Batch carry forward now available ● 2025 T1 form updates ● 2025 TP1 form updates ● SKS12 is available (New!) T3/TP646 highlights include: ● New 2025 T3/TP646 module is now available ● 2024–2025 Taxprep to ProFile carry forward ● S130 and T3AO are now available (New!) T2/CO-17 highlights include: ● CO-502 - Election in Respect of a Dividend Paid Out of a Capital Dividend Account FX/Q highlights include: ● Updated federal slips and forms |
| T1/TP1 | I. Federal Tax Changes OtherCredits The lowest federal personal income tax rate was reduced from 15% to 14%. Due to the mid-year implementation (effective July 1, 2025), the full-year effective tax rate for the lowest bracket in 2025 is 14.5%. A temporary, non-refundable Top-Up Tax Credit has been introduced to prevent taxpayers with very high non-refundable claims from being unintentionally penalized by the lower tax rate. The credit is automatically calculated on the OtherCredits worksheet and transferred to line 34990 of the T1 Jacket. Schedule 3 - Capital Gains or Losses The Federal Schedule 3, Capital Gains and Losses, has been simplified for the 2025 tax year. The separate reporting sections for Period 1 and Period 2 capital gains have been removed. These periods were temporarily required in 2024 to account for a proposed change in the capital gains inclusion rate. The capital gains inclusion rate will remain at 50% for 2025. II. Provincial & Territorial Tax Changes AB428 - Albert Tax and Non-refundable Credits The Alberta government has introduced a new, lower tax bracket of 8% on the first $60,000 of taxable income. The full tax bracket structure is now as follows: Up to $60,000–8% $60,000 to $151,234–10% $151,234 to $181,481–12% $181,481 to $241,974–13% $241,974 to $362,961–14% Over $362,961–15% ABCredits - Alberta Credits The Alberta Supplemental Tax Credit is a new non-refundable tax credit introduced in the province's 2025 budget. Its purpose is to ensure that taxpayers with a high amount of non-refundable tax credits do not pay more tax as a result of the province's new, lower 8% tax rate on the first $60,000 of taxable income. The amount is calculated on the ABCredits worksheet and transferred to line 61545 of the AB428 MB479 - Manitoba Credits The Manitoba Education Property Tax Credit (EPTC) has been replaced by the new Homeowners Affordability Tax Credit (HATC). The HATC provides a credit of up to a maximum of $1,500 on a principal residence. If individuals received the EPTC Advance on their 2024 tax bill and there has been no change in ownership, they will automatically receive the HATC on their 2025 property tax bill. The separate School Tax Rebate, which previously offered a 50% rebate on school taxes for all residential properties and 10% for commercial properties, has been eliminated for all properties. NS428 - Nova Scotia Tax and Non-refundable Credits The reduction provision for higher-income earners has been removed. As a result, all eligible taxpayers will now receive the maximum amounts for the Basic Personal Amount, Spousal Amount, and Eligible Dependant Amount. The Age Amount has also been increased to $5,734. ON479 - Ontario Credits Ontario has a new Ontario Fertility Treatment Tax Credit (OFTTC) that is a refundable tax credit for eligible medical expenses incurred on or after January 1, 2025. It provides a tax credit of 25% on qualifying expenses, up to a maximum of $5,000 for up to $20,000 in expenses. SK12 - Saskatchewan Home Renovation Expenses (New!) Saskatchewan has reintroduced the Home Renovation Tax Credit for the 2025 and subsequent tax years, allowing homeowners to claim a non-refundable tax credit of 10.5% on eligible expenses. The credit can provide annual savings of up to $420 for most homeowners and up to $525 for eligible seniors. Renovations must be for the principal residence in Saskatchewan and be permanent and integral to the property. SK479 - Saskatchewan Credits Saskatchewan offers a refundable fertility treatment tax credit (FTTC) for treatments performed in the province, it’s retroactive to January 1, 2025. It covers 50% of eligible costs up to a lifetime maximum of $10,000 per tax filer, based on a maximum of $20,000 in eligible expenses per couple The credit can be claimed on line 61268 of the SK479 YTCredits - Yukon Credits Yukon has introduced the Fertility and Surrogacy Tax Credit: A new refundable credit. The credit is equal to 40% of eligible costs incurred for fertility treatments and surrogacy expenses. The maximum claim amount is $10,000 per year and the credit has no cap on the total amount a person can claim over their lifetime. If you want to claim the credit, enter “yes” at field 63857 of the YTCredits and enter the amount for eligible medical expenses for fertility treatments at field 61268. PE428 - PEI Tax and Non-refundable Credits The Children's Wellness Tax Credit has doubled from $500 to $1,000 per child. Removed form(s) ● Direct Deposit |
| T3/TP646 | 2024–2025 Taxprep to ProFile carry forward This version of the ProFile T3/TP646 module carries forward information from 2024 Taxprep T3 returns to create new 2025 ProFile returns. To carry forward a Taxprep T3 file: 1. Select the option Carry forward from the File dropdown menu. 2. Set Files of type as “2024 Taxprep T3 (*.324)” or drag-and-drop a Taxprep file (*.324) into a ProFile T3 file. Taxprep versions are supported up to 2025 v3.0. I. Federal Tax Changes Most relevant rates published The most important rates published by the CRA are implemented in this release for the T3/TP646 module. T3 Schedule 1 - Dispositions of Capital Property The T3SCH1 has been simplified for the 2025-tax year. The separate reporting sections for Period 1 and Period 2 capital gains have been removed. These periods were temporarily required in 2024 to account for the then-proposed change in the capital gains inclusion rate. The capital gains inclusion rate remains at 50% for 2025. S130 - Excessive Interest and Financing Expenses Limitation (EIFEL) (New!) This form is required for trusts that are subject to the new federal EIFEL rules. These rules limit how much net interest and financing expenses (IFE) a trust can deduct in a tax year. T3SCH130 is used to calculate the trust's 'Capacity for Excess Interest and Financing Expenses' (CUEC), determining the amount of interest the trust can deduct or carry forward. T3AO - Trust Amount Owing Remittance Voucher (New!) The T3AO form is the Trust Amount Owing Remittance Voucher and is used to accompany any payment sent to the CRA for a balance owing on the T3 return. The voucher must accompany payments you make in person at financial institutions, and should be included with payments you send to the CRA by mail. The voucher will include a QR code that contains all the information required to make the payment with cash or debit at a Canada Post Outlet for a fee. II. Provincial & Territorial Tax Changes T3AB - Alberta Tax The Alberta government has introduced a new, lower tax bracket of 8% on the first $60,000 of taxable income. The full tax bracket structure is now as follows for Graduated Rate Estates (GRE) or (Qualified Disability Trusts (QDT): Up to $60,000–8% $60,000 to $151,234–10% $151,234 to $181,481–12% $181,481 to $241,974–13% $241,974 to $362,961–14% Over $362,961–15% For trusts other than GRE and QDT, the tax rate remains at 15%. QSA and QSA1 (TP646 Schedule A and A.1) The Québec Trust Income Tax Return (TP-646) has been simplified for the 2025 tax year with the removal of Schedule A.1 (QSA1). In 2024, trusts that weren't personal trusts could elect to file Schedule A.1 (instead of Schedule A) to report their capital gains (or losses). For 2025, Schedule A (QSA) is now the only required schedule for reporting all disposals made throughout the year. This makes reporting simpler. Removed form(s) ● QSA1 |
| T2/AT1/CO-17 | CO-502 - Election in Respect of a Dividend Paid Out of a Capital Dividend Account A new checkbox is added to indicate if the corporation is amending or revoking a capital dividend already declared using this form. |
| FX/Q | RC199 - Voluntary Disclosures Program (VDP) Application RC199 has been simplified. The previous detailed reporting tables for GST/HST, domestic income, and foreign income/assets have been removed. Applicants are now required to provide supporting documentation for the years in which non-compliance occurred, rather than completing the reporting tables. T4 - Statement of Remuneration Paid The dates for security options (codes: 38, 39, 41, 90, 91, and 92) have been removed. Minor Slip Updates: ● NR4 ● T4A ● T4ANR ● T4PS ● T5 ● T2202 ● T5008 ● T5018 Minor Form Updates: ● CPT30 ● GST74 ● NR4 ● RC151 ● RC66 & RC66SCH ● T1OVP ● T2058 ● T2059 ● TL11A Blocked filing T5013 is blocked from filing. It'll be available in a future release. |
What's new in ProFile release 2025.1.5
| Module | Content |
| Introduction | Version 2025.1.5 Download the latest release of the ProFile Suite, version 2025.1.5. Improved authentication for WAC and DAC requests: The Canada Revenue Agency (CRA) has introduced additional questions during the Web Access Code (WAC) and Digital Access Code (DAC) request process.This corrective action significantly enhances the WAC and DAC services, further protecting taxpayer information. To successfully request a Web Access Code (WAC) or a Digital Access Code (DAC) from the CRA, a comprehensive set of information is now required. In addition to the previously necessary details such as the business number, the relevant tax year end, incorporation date, Postal Code/Postal Code, the name of the individual making the request, and their position within the business, you must now also have information from their most recent Notice of Assessment (NOA) or Reassessment (NOR): Mandatory: ● The Issue Date of the most recent NOA/ NOR One of the following three tax amounts from the NOA/ NOR: ● Part I Tax from the most recent NOA/NOR ● Total Federal Tax from the most recent NOA/NOR ● Net Balance from the most recent NOA/NOR First-time filers will no longer be able to request a WAC or DAC through the software. Instead, you must contact the CRA help desk. For a DAC request, this enhancement applies to corporations. There's no change to DAC requests for partnerships and Underused Housing Tax (UHT). More info: ● More info on How to request a Web Access Code (WAC) ● More info on How to request a Digital Access Code (DAC) |
What's new in ProFile release 2025.1.0
| Module | Content |
| Introduction | Version 2025.1.0 Download the latest release of the ProFile Suite, version 2025.1.0. Forms for the 2025-taxation year aren't being released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. Note: We suggest that discounters in provinces that give back tax credits don't use this release to start entering data for their clients All modules: ● CRA Password Re-entry Mandate T1/TP1 highlights include: ● 2024 to 2025 TurboTax Desktop carry forward to ProFile T2/CO-17 highlights include: ● The 2023–2026 T2 module is now available when fiscal year ends on or before May 31, 2026 ● T2 paper and Internet filing is certified for Federal corporate tax returns ● AT1 paper and Internet filing is certified for Alberta corporate tax returns ● T2 Schedule 74 is now available (New!) |
| All modules | CRA Password Re-entry Mandate To help ensure accurate entry and reduce filing issues, The CRA now requires a confirmation field when you set up or update your EFILE password. You will now be asked to enter your password twice to confirm it’s correct. This step helps prevent password mismatch errors that could cause issues with your filing. |
| T1/TP1 | 2024-25 TurboTax Desktop to ProFile Carry Forward This release of the ProFile T1 module can carry forward information from 2024 TurboTax Desktop T1 returns to new 2025 ProFile returns. |
| T2/AT1/CO-17 | T2 and AT1 certifications The 2023–2026 T2 module is certified for federal and Alberta corporate tax returns. Preparation of returns for corporations with fiscal years ending on or before May 31, 2026 is supported. AT1 - Alberta Corporate Income Tax Return The Date, Telephone Number, and Authorized Email lines are now required on the AT1 form. S3 – Dividends Received, Taxable Dividends Paid, and Part IV Tax Calculation Two new lines have been added for dividends deductible from taxable income under paragraph 113(1)(c). These amounts flow through to Schedule 7, Schedule 53 (line 210), and T2 (line 320). S5 - Tax Calculation Supplementary - Corporations The following lines have been added to Schedule 5: ● Line 281 - Repayment of Ontario made manufacturing investment tax credit ● Line 887 - Certification number for Manitoba rental housing construction incentive tax credit S7 - Aggregate Investment Income and Income Eligible for the Small Business Deduction Lines 019, 032, 049, 062, and 730 have been updated to reflect the new dividend deduction lines introduced in Schedule 3 for paragraph 113(1)(c) amounts. This schedule has also been revised to remove obsolete lines that no longer apply to tax years starting after 2018. S63 - Return of Fuel Charge Proceeds to Farmers Tax Credit The 2024 calendar year is the final period for which this tax credit is available. Corporations can now only claim the credit for farming expenses that are related to the 2024 and prior calendar years. The T2 Schedule 63 form has been updated to remove the calculation for days that fall in the 2025 calendar year and subsequent periods. S74 - Clean Hydrogen Investment Tax Credit (New!) Schedule 74 is a new schedule to calculate the Clean Hydrogen Investment Tax Credit (ITC) for eligible clean hydrogen property acquired and made available for use after March 27, 2023, and before January 1, 2035. S75 - Clean Technology Investment Tax Credit The schedule has been updated to incorporate clean technology property codes when claiming a Clean Technology ITC or Recapture of Clean Technology ITC. S5PE (S322) - Prince Edward Island Corporation Tax Calculation The schedule has been updated for the 2025 and later tax years to align with recent changes. The higher income tax rate has been reduced from 16% to 15%, effective July 1, 2025. The calculation is prorated based on the corporation's tax year. Additionally, a new section has been added for corporations that are members of a partnership to reconcile the income from active business. S341 - Nova Scotia Corporate Tax Reduction for New Small Businesses That schedule has been updated to incorporate a change in the provincial tax rate. The tax reduction rate has been lowered from 2.5% to 1.5%. This new rate is effective April 1, 2025. For tax years that straddle this date, the schedule now uses a time-prorated calculation to apply the 2.5% rate for days before April 1, 2025, and the 1.5% rate for days after March 31, 2025, to determine the total corporate tax reduction. S422 (T1196) - British Columbia Film and Television Tax Credit The schedule has been updated for the 2025 and subsequent taxation years. The Basic Tax Credit rate has increased from 35% to 40% for productions commencing principal photography after December 31, 2024. S423 (T1197) - British Columbia Production Services Tax Credit The schedule has been updated for the 2025 and subsequent taxation years. It now incorporates the new British Columbia Major Production Tax Credit and an increased Production Services Tax Credit rate from 28% to 36% for productions commencing principal photography after December 31, 2024. S429 - British Columbia Interactive Digital Media Tax Credit The schedule has been updated for the 2025 and subsequent taxation years. The British Columbia interactive digital media tax credit rate for net eligible salary and wages incurred after August 31, 2025, has increased from 17.5% to 25%. S444 - Yukon Business Carbon Price Rebate All calculations for the V25 schedule have been updated to reflect the latest inclusion rates for Yukon Mining assets, the mining business rebate factor (0.03647), and the general business rebate factor (0.02220). S572 - Ontario Made Manufacturing Investment Tax Credit The calculation of eligible properties, specifically acquisitions of Class 43 and Class 53 assets, have been modified to align with the latest legislative changes. Eligibility is determined by the asset's use date: Class 53 assets are eligible if the use date is on or between March 23, 2023, and December 31, 2025, while Class 43 assets are eligible if the use date is on or after January 1, 2026. Minor Form Updates: ● AConsent ● T2 (S200) ● S5NS (S346) ● S12 ● S31 ● S35 ● S38 ● S78 ● S570 ● T1141 ● T1142 |
| FX/Q | T3010 - Registered Charity Information Return The T3010 now allows only 2500 characters for Ongoing Programs and New Programs under Section C. If you had a previously filled T3010 with more characters in those sections, please re-check your entry. |
| Coming Soon! | Improved authentication for WAC and DAC requests: The CRA intends to introduce additional security questions during the Web Access Code (WAC) and Digital Access Code (DAC) request process. This corrective action significantly enhances the WAC and DAC services, further protecting taxpayer information. To successfully request a Web Access Code (WAC) or a Digital Access Code (DAC) from the CRA, a comprehensive set of information is now required. In addition to the previously necessary details such as the business number, the relevant tax year end, incorporation date, Postal Code/Postal Code, the name of the individual making the request, and their position within the business, you must also have information from their most recent Notice of Assessment (NOA) or Reassessment (NOR): Mandatory: ● The Issue Date of the most recent NOA/ NOR One of the following three tax amounts from the NOA/ NOR: ● Part I Tax from the most recent NOA/NOR ● Total Federal Tax from the most recent NOA/NOR ● Net Balance from the most recent NOA/NOR First-time filers will no longer be able to request a WAC or DAC through the software. Instead, you must call the CRA help desk. For a DAC request, this enhancement applies to corporations. There's no change to DAC requests for partnerships and Underused Housing Tax (UHT). T1/TP1: ● First version of paper filing release for 2025 T1 T3/TP646: 2025 T3 Module |
What's new in ProFile release 2025.0.0
| Module | Content |
| Introduction | Version 2025.0.0 Download the latest release of the ProFile Suite, version 2025.0.0. This is the first release of ProFile T1 and FX for the 2025-taxation year. Forms for the 2025-taxation year aren't released by the CRA at this time. In-product forms include a “DRAFT” watermark indicating that the form isn't approved for use. Note: We recommend that discounters in provinces that provide refundable tax credits don't use this release to begin entering data for their clients. T1/TP1 highlights include: ● New 2025 T1/TP1 module is now available ● 2024-25 ProFile to ProFile carry-forward preview ● 2024-25 Taxprep to ProFile carry-forward preview ● 2024-25 Cantax to ProFile carry-forward preview ● 2024-25 TaxCycle to ProFile carry-forward preview ● 2024-25 DTMax to ProFile carry-forward preview T2/CO-17 highlights include: ● ProFile T2 now carries forward information from 2025 files created with Taxprep T2 (version 2025 v1.1), Cantax T2 (version 24.1.307.126), TaxCycle (version 14.2.57271.0), and DTMax (version 28.31) FX/Q highlights include: ● New 2025 FX/Q module is now available ● ProFile 2025 FX carries forward information from 2024 files created with ProFile 2025 FX, Taxprep Forms versions up to 2024 v4.0 and Cantax FormMaster versions up to 2024 v4.0. System highlights include: ● T1 2025 module supports Intuit Sign ● Microsoft ending Windows 10 Support in October. For more details, check out our Microsoft Support ending for Windows 10 article. |
| T1/TP1 | Period 1 and Period 2 capital gains references in the 2025 module: There are still references to Period 1 and Period 2 for 2025 on some forms within our 2025-tax module. This is temporary, as our software uses the 2024 forms as a template while we wait for the 2025 versions to be released by CRA and Revenu Québec. The federal government didn't change the proposed rate for capital gains. This decision was announced on March 21, 2025. For 2025, there are no changes to the capital gains inclusion rate; it stays at 50%.. If you plan on working on these affected forms, we strongly recommend waiting for our future release. We'll update the forms with the final 2025 versions from the CRA and Revenu Québec as soon as they are made available. 2024–2025 ProFile to ProFile carry-forward preview This early version of the ProFile T1 module carries forward information from 2024 ProFile returns to create new 2025 ProFile returns (for preview purposes only). To carry forward a single 2024-tax return, right-click on the file and then select the Carry forward option. 2024–2025 Taxprep to ProFile carry-forward preview This version of the ProFile T1 module carries forward information from 2024 Taxprep T1 returns to create new 2025 ProFile returns. To carry forward a Taxprep T1 file, select the option Carry forward from the File menu. Set Files of type as “2024 Taxprep T1 (.124)” or drag-and-drop a Taxprep file (.124) into a ProFile T1 file. Taxprep versions are supported up to 2024 v5.0. 2024–2025 Cantax to ProFile carry-forward preview This version of the ProFile T1 module carries forward information from 2024 Cantax T1 returns to create new 2025 ProFile returns. To carry forward a Cantax T1 file, select the option Carry forward from the File menu. Set Files of type as “2024 Cantax T1 (. P24)” or drag-and-drop a Cantax (. P24) file into a ProFile T1 file. Cantax versions are supported up to version 24.5.303.120. 2024–2025 DT Max to ProFile carry-forward preview This version of the ProFile T1 module carries forward information from 2024 DT Max T1 returns to create new 2025 ProFile returns. DT Max versions are supported up to v28.32. 2024–2025 TaxCycle to ProFile carry forward This version of the ProFile T1 module carries forward information from 2024 TaxCycle T1 returns to create new 2025 ProFile returns. TaxCycle versions are supported up to 14.2.57271.0 Removed worksheet ● CCR - Canada Carbon Rebate |
| T2/AT1/CO-17 | Taxprep, Cantax, TaxCycle, and DTMax to ProFile carry forward ProFile T2 now carries forward information from 2024 files created with Taxprep T2 (version 2025 v1.1), Cantax T2 (version 24.1.307.126), TaxCycle (version 14.2.57271.0), and DTMax (version 28.31). S5PE(S322) - Prince Edward Island Corporation Tax Calculation The business limit was increased from $500,000 to $600,000, and the higher tax rate dropped from 16% to 15%. These changes take effect on July 1, 2025. Plus, the form's been updated for multi-year filers. S5NS(S346) - Nova Scotia Corporation Tax Calculation The business limit was increased from $500,000 to $700,000, and the tax at the lower rate decreased from 2.5% to 1.5%. These changes take effect on April 1, 2025. T2055 - Election in Respect of a Capital Gain Dividend Under Subsection 131(1) The election form has been re-formatted and simplified. Fewer disclosures are required by the user. Moreover, the required general information of the filing party has also been modified. Minor form updates: ● AS12 ● S6 |
| FX/Q | New 2025 FX/Q module The new 2025 FX/Q module is now available. Note that the Quebec slip filing in 2025 FX/Q module is unavailable. Those wishing to file the 2025 slips now should use the previous module and manually override the year to 2025. Slip filing in the 2025 module will be enabled in a future release once the 2025 slips have been updated. Carry forward from 2024 to 2025 ProFile 2025 FX carries forward information from 2024 files created with ProFile 2024 FX, Taxprep Forms versions up to 2024 v4.0, and Cantax FormMaster versions up to 2024 v4.0. LE-39.0.2 (CNT) - Calculation of the Contribution Related to Labour Standards The maximum remuneration subject to the contribution has been increased to $98,000 per employee. The form now uses a single contribution rate of 0.06% on remunerations subject to the contribution.The previous "Employer code" section has been removed. TD1NS - 2025 Nova Scotia Personal Tax Credits Return This form has been updated for the 2025-taxation year based on the announced provincial changes. Key credit and threshold updates include: ● The basic personal amount credit has been increased. ● The age amount credit and the maximum net income threshold to claim this amount have been increased. ● The supplement to the age amount, previously calculated on the TD1NS-WS worksheet, has been removed. ● The spouse or common-law partner credit amount has been increased. ● The supplement for the spouse or common-law partner amount has been removed. ● The amount for an eligible dependent has been increased. ● The supplement for the amount for an eligible dependant has been removed. Minor form updates TD1MB - 2025 Manitoba Personal Tax Credits Return Annual credit and threshold values increased as per government form update, in alignment with provincial budget announcement. No new provincial non-refundable tax credits introduced. TD1SK - 2025 Saskatchewan Personal Tax Credits Return Annual credit and threshold values increased as per government form update, in alignment with provincial budget announcement. No new provincial non-refundable tax credits were introduced. |
| Systems | ● T1 2025 module supports Intuit Sign ● Fixed the physical printing issue with network printer ● Microsoft is ending support for Windows 10 on October 14, 2025. This change doesn't impact ProFile versions for Tax Year 2024 and before. For more details, check out our Microsoft Support ending for Windows 10 article. |
| Coming Soon! | ● 2024–2025 TurboTax to ProFile carry-forward (T1/TP1) ● 2025 Form update (T2) |