Using the tax planner for T1 in ProFile

Use the tax planner to prepare a projection of the taxpayer's position for the next taxation year.

Note: ProFile keeps the tax planner as current as possible with information sourced from recent budget announcements. The Tax Planner may not include all federal and provincial changes for the year. This will depend on the latest software release.

Table of contents:

Create a new tax planner form

1. Open a completed T1 client file.
2. Open the form Plan from the Client category of the Form Explorer. A tax planner form opens.
3. Right-click in any field and select the Copy T1 return option.

The tax planner form populates with the transferred T1 return data.

Tip: Preparers can manually change any amounts to reflect a client's new projections for the year.

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Create multiple tax planner forms

Plan is an unlimited form, so you can create many different scenarios for a single T1 file.

1. Right-click on an existing plan; select New form from the menu.
2. ProFile creates new T1 plans for the client and spouse, all in the same numbered set.
3. Enter a description for a specific scenario in the Description field at the top of the form.

The description displays in the Form Explorer. This allows preparers to distinguish between the different scenarios created.

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Update a tax planner form

ProFile doesn't update a tax planner form when amounts in the current year T1 return change.

If changes were made in the T1 return and a plan form requires updating, select Copy T1 return again from the right-click menu.

The tax planner form will populate with the copied T1 return data.

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