Release Notes

Overview – Version 2024 4.0

The most recent updates of the following forms have been integrated into this version:

  • T106 Slip (Jump Code: T106) and T106 Summary, Information Return of Non-Arm’s Length Transactions with Non-Residents (Jump Code: T106SUM);

  • T776, Statement of Real Estate Rentals (Jump Code: T776); and

  • T3-ADJ, T3 Adjustment Request (Jump Code : T3ADJ)

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Essential Program Information

Taxprep Forms is the most complete electronic library of income tax forms in Canada. Three versions are available: the Gold version includes more than 475 slips and forms issued by the Canada Revenue Agency (CRA) and Revenu Québec (RQ), while the Silver version includes nearly 220 and the Bronze version, nearly 20. To view the content of your version, access the Forms view of the program (by selecting View/Form Manager). A list of the forms included in each version is also available in PDF format. You can consult this list on the Taxprep FormsProfessional Centre, (accessible from the Menu button at the top left corner of the program) under the “Documentation” section, or on the Taxprep Web site, at https://wolterskluwer.ca/products/taxprep/taxprep-forms/.

 

Forms and Slips Coverage

The slips, RL slips and summaries included in Taxprep Forms 2024 normally apply to the 2024 taxation year. You can nonetheless use them if you need to file a slip for the 2025 taxation year before the 2025 versions of the slips are made available by government authorities.

Individual forms can be used until they are updated by the CRA or RQ.

 

To know the release dates of the Taxprep Forms versions, please consult the product calendar.

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Version 4.0 Content

Updates and Additions

To review the updates and additions contained in version 4.0 of Taxprep Forms 2024, consult the Updates and Additions table.

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Version 4.0 – Updated Forms

Federal

RC4607, GST/HST Pension Entity Rebate Application and Election (Jump Code: RC4607)

Due to the Nova Scotia HST rate change effective April 1, 2025, a custom line has been added to sections 3 to allow amounts to be entered according to the applicable rate.

T3-ADJ, T3 Adjustment Request (Jump Code: T3ADJ)

The list of line numbers from returns and schedules has been updated to include lines added to the T3 (Jump Code: T3RET) and T3-RCA (Jump Code: T3RCA) returns. Lines 12, 547, 80, 881, 11101, 11102, 6022, 6023 and 6024 can now be selected from that list.

T106 Slip, T106 Slip (Jump Code: T106); and

T106 Summary, Information Return of Non-Arm's Length Transactions with Non-Residents (Jump Code: T106SUM)

A new version of Form T106, which is only displayed when the taxation year covered by the return begins after 2024, has been integrated to the program. For taxation years that begin before 2025, the previous version of the form should be used.

In the 2025 version of Form T106 Summary, question 9 has been modified, question 10 has been added, former question 10 has become question 11 and fields have been added to indicate primary account numbers. The fields for primary account numbers will be validated upon entry. When opening a client file prepared with a previous version of the program, when the taxation year begins after December 31, 2024, if an account number containing the characters RP in the tenth and eleventh position of the number had been entered, the number will be retained. Any other number will not be retained.

As for the T106 slip, questions 4 and 5 have been added. Question 4 has become question 6; however, the relationship type options have been modified. Option 1, Non-resident is controlled by the reporting person/partnership has been replaced by option 1, Non-resident is a controlled foreign affiliate (CFA) of the reporting person/partnership and option 2, Non-resident is a foreign affiliate of the reporting person/partnership other than a CFA. Options 2 and 3 are now options 3 and 4. When opening a client file prepared with a previous version of the program, when the taxation year begins after December 31, 2024, if option 1 had been selected, the choice will not be retained. In addition, the question If “1”, is the non-resident in a country with which Canada does not have a tax treaty? has been removed from the latest version of the slip.

The drop-down list used to indicate the transfer pricing method (TPM) has been modified. Code 07, previously Other, is now Advanced Tariff Arrangement, and code 08 is Other. When opening a client file prepared with a previous version of the program, when the taxation year begins after December 31, 2024, if code 07 had been previously selected from the list, it will be replaced by code 08.

T2060, Election for Disposition of Property Upon Cessation of a Canadian Partnership (Jump Code: T2060)

Identification boxes and questions have been added to Parts 1 and 4. Identification boxes have also been added to Schedule A.

Part 3, Additional information, is a new section to be completed if the answer to the question Are the partnership business activities being continued under another entity? is Yes.

Finally, an additional question has been added to line 655 of section Deemed proceeds of disposition in Schedule A. It allows you to indicate whether supporting documents have been attached to the form.

If you have completed this form using a previous version of the program, we advise you to review these elements before producing it.

T2107, Election for a Disposition of Shares in a Foreign Affiliate (Jump Code: T2107)

Identification boxes have been added to Part 1, Identification, allowing the preparer to detail the address of the resident corporation filing the election and identify a contact person. Identification boxes have also been added to this section to better identify the disposing corporation and the foreign affiliate whose shares have been disposed of.

Subsection Purchaser of disposed shares has been added to Part 3, Particulars of disposition for which an election is made, to identify the purchaser of disposed shares. In addition, the new questions Were the shares redeemed? and Are the disposing corporation and the purchaser related? that are located in that subsection must be answered.

Finally, in Part 3, it is now possible to enter the balance of hybrid surplus (if any) at the time of disposition.

If you have completed this form using a previous version of the program, we advise you to review these elements before producing it.

T5013 General CCA, General CCA Classes (Jump Code: T5013CCAR)

The following CCA classes are now available in the program:

  • Class 57 (8%): Equipment in a CCUS project – CO2 capture, transport or storage;

  • Class 58 (20%): Equipment in a CCUS project – Use of CO2 in industrial production;

  • Class 59 (100%): Intangible property acquired for determining the existence of a geological formation to store captured carbon;

  • Class 60 (30%): Intangible property acquired to prepare a well to store captured carbon.

TX19, Asking for a Clearance Certificate (Jump Code: TX19)

The tax services address for regional code 03 (Ontario and Nunavut) has changed. Send your certificate to the following address:

GTA East TSO
Audit – Clearance Certificates
Post Office Box 20000, Station A, Sudbury ON  P3A 5C1

T776, Statement of Real Estate Rentals (Jump Code: T776)

Effective January 1, 2024, if a residential property is rented or offered for rent for less than 90 consecutive days, it is considered a short-term rental, and new tax rules apply to rental expenses.

If the rental property is located in a province or a municipality that, as the case may be:

  • does not allow the short-term rental to be operated at its location

  • requires registration, a licence or a permit to operate the short-term rental, and the short-term rental does not meet this requirement

The short-term rental will then be considered to be non-compliant, and rental expenses will not be deductible against rental income.

Form T776 has been modified to enter short-term rental income and expenses and to calculate non-compliant expenses.

For 2024, Revenu Québec has partially harmonized with the federal government; the differences are as follows:

  • short-term rental non-compliance will only be determined under the registration requirements of Québec legislation;

  • a short-term rental refers to a residential building located in Québec and available for rent for a period not exceeding 31 days.

Revenu Québec is not planning to modify Form TP-128 (Jump Code: TP128) to incorporate these tax changes. Adjustments will need to be made on Form TP-128 when non-compliant rental expenses are entered on Form T776. A diagnostic has been added to notify you when changes must be made to Form TP-128.

 

Québec

CO-359.10, Flow-Through Shares Information Return (Jump Code: CO35910)

Box 01c has been added to enter the federal business number.

The date format to be entered in box 09 (YYYY-MM) has been changed to YYYY-MM-DD, which prevents the program from retaining a date entered in this box in a previous version.

If you have completed this form with a previous version of the program, please enter the date in box 09, if applicable, before filing the form.

TP-274, Designation of Property as a Principal Residence (Jump Code: TP274)

Fields have been added to section Information about the designated property of Part Designation to indicate the proceeds of disposition, the share and the surface area used as a principal residence. Additionally, the years covered by the designation have been removed and replaced by the number of years that the property has been designated as a principal residence. Finally, a detailed table has been added to calculate the share of the property designated as a principal residence.

TPZ-1179, Logging Operations Return (Jump Code: TPZ1179)

Several changes have been made to this form, including:

  • The layout of Part 2, Information about the logging operations, has been modified. Some of the information previously displayed on two lines has been grouped together on a single line.

  • Part 5, Logging tax payable, has been divided into three subsections.

  • The excess amount of logging tax payable can now be calculated in the new Part 5.2, Excess logging tax payable.

  • Line 88, Income tax payable according to line 422a of the Québec income tax return, which was previously in Part 7, Other information, has been reclassified to line 77a in the new Part 5.2.

  • Part 8, Deduction for logging tax, has been added. It is used to calculate the logging tax deduction and to determine the amount that cannot be claimed this year but can be carried to a subsequent year. In addition, section 8.3.2 contains a table showing the amounts from previous years that have been used in a previous year or that may be used in the year concerned. This makes it easier to keep track of amounts to be carried.

If you have completed this form with a previous version of the program, it is recommended that you revise the form before filing it.

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Version 3.0 Content

Updates and Additions

To review the updates and additions contained in version 3.0 of Taxprep Forms 2024, consult the Updates and Additions table.

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Version 3.0 – Updated Forms

Federal

T1055, Summary of Deemed Dispositions (Jump Code: T1055)

The question on line 55800 has been added to section Calculation for election on Form T2223, Election, Under Subsection 159(6.1) of the Income Tax Act, by a Trust to Defer Payment of Income Tax. Line 27 will be calculated only if the answer to this question is Yes.

T1159, Income Tax Return for Electing Under Section 216 (Jump Code: T1159)

The tax bracket thresholds and the tax amounts on the income base amounts have been updated for 2024.

In addition, former line 22 of section Refund or balance owing, which was used to enter the amount of the air quality improvement tax credit, has been removed, as the air quality improvement tax credit applies to expenses incurred between September 1, 2021, and December 31, 2022. Consequently, subsequent lines have been renumbered.

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Version 2.1 Content

This version is fully approved for the forms relating to the T5013 return, Partnership Income, its schedules, the T5013 slip and the T5013 Summary, as well as for the electronic transmission of the T5013 return and slip.

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Version 2.0 Content

Changes to the capital gains inclusion rate

The Department of Finance has announced on January 31, 2025, that the changes to the capital gains inclusion rate would come into effect on January 1, 2026. The CRA has announced that it will reinstate the forms at the current rate (one-half) and publish them in the coming weeks. The forms and slips of this version reflect the changes in the capital gains inclusion rate to increase it to two-thirds. We will incorporate the changes to return to a one-half inclusion rate in a future release. If your file is affected by capital gains, we recommend that you wait for a future version or information from CRA to work on it.

Updates and Additions

To review the updates and additions contained in version 2.0 of Taxprep Forms 2024, consult the Updates and Additions table.

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Version 2.0 – Updated Forms

Federal

T5013 Schedule 6, Summary of Dispositions of Capital Property (Jump Code: T5013S6)

On September 23, 2024, the Minister of Finance tabled a Notice of Ways and Means Motion (NWMM) to introduce a bill entitled An Act to amend the Income Tax Act and the Income Tax Regulations. Although these proposed changes are subject to parliamentary approval, consistent with standard practice, the CRA is administering the changes to the capital gains inclusion rate effective June 25, 2024, based on the proposals included in the NWMM tabled on September 23, 2024.

Accordingly, lines have been added to Schedule 6 of the T5013 return for the allocation of the capital gain (loss) between the period before June 25, 2024, and the period after June 24, 2024, if the partnership's fiscal period began before June 25, 2024, and ended after June 24, 2024.

Part 12, Interest in a partnership, has been revised so that the portion of the capital gain that is subject to the 100% inclusion rate under subsection 100(1) ITA must be entered on line 885. If the partnership's fiscal period began before June 25, 2024, and ended after June 24, 2024, this amount must be allocated to lines 890 and 895. These amounts must now be entered in the new boxes 289, 290 and 291 of the T5013 slip.

Part 13, Qualifying business transfer to employee ownership trust, has been added to Schedule 6 for transfers under section 110.61 ITA. This addition has resulted in the creation of lines 420, 390 and 395 in Part 14.

Finally, boxes 270, 271, 276, 277, 278 and 287 to 291 have been added to Worksheet B of Form T5013 (Jump Code: T5013WSB) and Form T5013/RL-15 (Jump Code: T5013) to reflect the changes made in Schedule 6.

If you have completed Schedule 6 of the T5013 return with a previous version of the program, we suggest you review it before filing.

T5013 Slip, Partnership Income (Jump Code: T5013)

The clean technology investment tax credit is a tax credit for capital invested in the adoption and operation of new clean technology (CT) property in Canada from March 28, 2023, to December 31, 2034. This credit is calculated and allocated to the partners of a partnership using Schedule 75 of the T5013 return. It is available on the CRA website and will be available in a subsequent version of the program. In the meantime, boxes 265 to 267 relating to this credit have been added to Worksheet B of Form T5013 (Jump Code: T5013WSB) and Form T5013/RL-15 (Jump Code: T5013).

The carbon capture, utilization and storage (CCUS) investment tax credit is a tax credit that applies to eligible expenditures incurred for a qualified CCUS project from January 1, 2022, to December 31, 2040. This credit is calculated and allocated to partners in a partnership using Schedule 78 of the T5013 return. It is available on the CRA website and will be available in a subsequent version of the program. In the meantime, boxes 245, 246 and 269 relating to this credit have been added to Worksheet B of Form T5013 and Form T5013/RL-15.

Changes have been made to the Income Tax Act to limit the deductibility of net interest and financing expenses of some corporations and trusts. The reporting and allocation of interest and financing expenses (IFE) or interest and financing revenues (IFR) for a fiscal year to the partners is done using Schedule 130 of the T5013 return. It is available on the CRA website and will be available in a subsequent version of the program. In the meantime, boxes 247 to 256 have been added to Worksheet B of Form T5013 and Form T5013/RL-15.

The information made available in the program does not allow the amounts in boxes 247 to 261 to be automatically allocated to the partners from the data in Worksheet B. Therefore, if you wish to allocate specific values to these boxes for some partners, please enter them manually via Form T5013/RL-15.

To allow the allocation of business investment losses between the period before June 25, 2024, and the period after June 24, 2024, boxes 272 and 273 have been added below box 137 on Worksheet B of Form T5013 and Form T5013/RL-15.

To allow the allocation of the capital gains reserve from gifts of non-qualifying securities (eligible amount) for the period after June 24, 2024, box 282 has been added below box 166 on Worksheet B of Form T5013 and Form T5013/RL-15. Box 166 must now be used for reserves for the period prior to June 25, 2024.

Revenu Québec has also made changes to the RL-15 slip regarding changes to the capital gains inclusion rate and the introduction of qualifying business transfers to an employee ownership trust.

Code 2, Property other than resource property – Qualifying business transfer to an employee ownership trust, has been added to the list of options in box 10-4, Code corresponding to the type of property disposed, on Worksheet B of Form T5013 and Form T5013/RL-15. As mentioned in the release note for Schedule 6 of the T5013 return, Part 13 has been added to Schedule 6 for qualifying business transfers to an employee ownership trust. Since there is no specific box for a qualifying business transfer to an employee ownership trust on the T5013 slip, the amount on line 420 of Schedule 6 will be transferred directly to box 10 on Worksheet B of Form T5013.

On the same note, to allow the allocation of the reserve related to dispositions under a qualifying business transfer to an employee ownership trust between the period before June 25, 2024, and the period after June 24, 2024, additional information boxes 11-9 and 11-8 have been added to Worksheet B of Form T5013 and Form T5013/RL-15.

The additional information boxes of box 11 have undergone significant changes. Boxes 11-1, 11-3 and 11-4 have been duplicated to allow the allocation of reserves between the period before June 25, 2024, and the period after June 24, 2024. For example, box 11-1 was previously entitled Reserve related to qualified farm or fishing property. For the year 2024, it has been renamed Reserve related to qualified farm or fishing property disposed of after June 24, 2024. In addition, box 11-5, Reserve related to qualified farm or fishing property disposed of before June 25, 2024, has been added to the additional information. As a result, reserve amounts previously reported in box 11-1 for property disposed of before June 25, 2024, will now be reported in box 11-5. Reserves for assets disposed of after June 24, 2024, will now be reported in box 11-1. The same logic applies to the existing boxes 11-3 and 11-4 as well as to the new boxes 11-6 and 11-7. The additional information boxes of box 11 have been modified or added to Worksheet B of Form T5013 and Form T5013/RL-15.

To allow the allocation of capital gains (or losses) not used to calculate the deduction between the period before June 25, 2024, and the period after June 24, 2024, additional information boxes have been added to box 12. For example, box 12-1 was previously entitled Capital gains (or losses) on property other than resource property. For the year 2024, it has been renamed Capital gains (or losses) realized after June 24, 2024, on property other than resource property. In addition, box 12-10, Capital gains (or losses) realized before June 25, 2024, on property other than resource property, has been added to the additional information. The same logic applies to existing boxes 12-2 to 12-9 as well as to new boxes 12-11 to 12-16. The additional information boxes of box 12 have been modified or added to Worksheet B of Form T5013 and Form T5013/RL-15.

To allow the allocation of the eligible taxable capital gains amount on resource property between the period before June 25, 2024, and the period after June 24, 2024, additional information boxes 45-2 and 45-1 have been added below box 45 on Worksheet B of Form T5013 and Form T5013/RL-15.

If you have completed the T5013 slip and/or RL-15 slip with a previous version of the program, please validate your entries before producing them.

T5013 Worksheet C, Reserves on Dispositions of Capital Property (Jump Code: T5013WSC)

To allow data entry with respect to reserves on capital gains realized before June 25, 2024, and after June 24, 2024, the lines Non-qualifying securities donated by the partnership to a qualified donee – after June 24, 2024 (box 281) and Other property – after June 24, 2024 (box 280) have been added. This means that the lines relating to boxes 165 and 163 should be used for amounts relating to the period before June 25, 2024. In addition, boxes 280 and 281 have been added to Worksheet B of Form T5013 (Jump Code: T5013WSB) and Form T5013/RL-15 (Jump Code: T5013).

Similarly, amounts entered on the Disposition after June 24, 2024, and before 2025 lines for QSBCS and QFFP will now be reported in boxes 283, 284, 285, and 286 of Worksheet B of Form T5013 and Form T5013/RL-15.

Finally, boxes 275 and 279 relating to capital gains reserves have been added to Worksheet B of Form T5013 and Form T5013/RL-15.

If you have completed this worksheet with a previous version of the program, please validate your entries before continuing filing the T5013 slips.

T5013 Financial, Partnership Financial Return (Jump Code: T5013FIN)

Three lines have been added to the Required documents to attach to this T5013 FIN, Partnership Financial Return section.

These lines are:

  • 233 about T5013 SCH 130

  • 263 about T5013 SCH 78

  • 264 about T5013 SCH 75

In addition, line 262 about T5013 SCH 65 has been removed from this section.

EFILE INFO, EFILE Information (Jump Code: EFILE INFO)

If you use the Represent a client service to transmit your federal slips or the T5013 return, the XML file must include your representative identifier (RepID) for the file to be accepted by the CRA. This information can be entered in the Representative identifier (RepID) section of the form. By entering a RepID, the transmitter account number entered in the options and setting will not be included in the XML file (T619). As a result, the XML file can only be filed on Represent a client.

T2200, Declaration of Conditions of Employment (Jump Code: T2200)

Significant changes have been made to the form. Several sections have been moved, while others have been merged.

If you have completed the form for a fiscal year ending in 2024 using a previous version of the program, it is advisable to review it before filing it.

 

Québec

RL-1 Summary, Summary of Source Deductions and Employer Contributions (Jump Codes: RL1SUM T4, RL1SUM T4A and RL1SUM T4ANR)

As of 2025, the rate for the contribution related to labour standards is the same for all employers, i.e., 0.06%. Therefore, line 60.1, Employer code (if you are an employer that is subject to the reduced contribution rate), and the column You entered a code on line 60.1 in the table of section 5, Contribution related to labour standards, have been removed from the temporary RL-1 summary.

If you completed this form for a year ending in 2025 using a previous version of the program, we recommend that you review section 5 before filing.

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Version 2.0 – Forms under review

The following forms are presently under review. They are labelled Under Review on screen and Do not submit watermark when printing:

  • At the CRA's request, Forms T1055 and T1177.

  • The electronic transmission of the T5013 return and slip.

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Version 1.0 Content

Updates and Additions

To review the updates and additions contained in version 1.0 of Taxprep Forms 2024, consult the Updates and Additions table.

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Version 1.0 – New Forms

Québec

RR-50, Election to Stop Contributing to the Québec Pension Plan, or Revocation of an Election (Jump Code: RR50)

This new Québec form is for employees who are at least 65 years of age, but under 73 at the end of the year, who are receiving a Québec Pension Plan (QPP) or a Canada Pension Plan (CPP) retirement pension and who want to stop making QPP contributions. It is also for employees who have stopped making QPP contributions in a previous year and want to restart.

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Version 1.0 – Updated Forms

Federal

NR4, Amounts Paid to Non-Residents (Jump Code: NR4)

The list of income codes has been updated. Codes 67 and 68, relative to arm’s length and non-arm’s length interest coupon stripping arrangement (ICSA) payments, have been added. In all circumstances, it is recommended to verify the income codes before filing the slip.

RC7066-SCH, Provincial Schedule – GST/HST Public Services Bodies’ Rebate (Jump Code: RC7066SCH)

Following an update to the form, lines have been added to the New Brunswick table for the following activity types: school authority established and operated otherwise than for profit, public college established and operated otherwise than for profit and hospital authority (only for the operation of a public hospital).

The calculation of line 300-NL has been removed and the amount must now be entered directly on line 300-NL. In addition, any amount previously entered on line B of the Line 300-NL calculation table will be kept. When opening a client file prepared with a prior version of Taxprep Forms, if an override was entered directly on line 300-NL, it will not be kept.

T3, Statement of Trust Income Allocations and Designations (Jump Code: T3); and
RL-16, Trust Income (Jump Code: RL16)

The CRA has added boxes 52 to 59 to the T3 slip to separate amounts related to capital gains, capital gains eligible for deduction from dispositions of QFFP, capital gains eligible for deduction from dispositions of QSBCS and insurance segregated fund net capital losses realized before June 25, 2024, and after June 24, 2024. The amounts displayed in these boxes are reported in the other information.

Revenu Québec has modified the descriptions of boxes A-2 to A-4 and H-1 to H-3 and has added boxes A-5 to A-9 and H-4 to H-10 to separate amounts related to capital gains, split income, capital gains eligible for deduction from dispositions of QFFP, capital gains eligible for deduction from dispositions of QSBCS and capital gains eligible for deduction related to a qualifying business transfer to an employee ownership trust realized before June 25, 2024, and after June 24, 2024. The amounts displayed in these boxes are reported in the additional information.

T4, Statement of Remuneration Paid (Jump Code: T4); and
RL-1 Slip, Employment and Other Income (Jump Code: RL1 T4)

Following an update to the T4 and RL-1 slips, several additional information codes have been added to the instructions. These codes can be selected in the data entry screen and will be added as additional information if applicable. As a result of this change, codes 38, 39, 41, L-9 and L-10 are now used exclusively for stock option benefits granted before June 25, 2024, while new codes 90, 91, 92, L-11, L-12 and L-13 are used for the period after June 24, 2024. Codes 94 and 95 have also been added in connection with the Indian Act. Finally, a diagnostic has been added as a reminder to specify the deduction rate in box L-11 when codes L-12 and L-13 are used for the deduction for the purchase of stock options.

If you have completed one of these slips with a previous version of the program, we strongly suggest that you review them before filing.

T4A, Statement of Pension, Retirement, Annuity, and Other Income (Jump Code: T4A); and
RL-32 Slip, First Home Savings Account (FHSA) (Jump Code: RL32)

Previously, code 134 of the T4A slip only allowed you to report a taxable amount from a tax-free savings account (TFSA). This code has been modified to include an amount allocated to an FHSA beneficiary who is a qualified donee. In Québec, the taxable amount of a TFSA must be reported on a RL-1 slip, but the taxable amount of an FHSA allocated to a qualified donee must be reported on a RL-32 slip. As a result, the existing box 134, Tax-free savings account (TFSA) taxable amount, has been renumbered 1341 and the new box 1342, First home savings account (FHSA) taxable amount for a qualified donee, has been added to the T4A data entry screen. The amount in these two boxes will be added together and the total will appear in the additional information on the T4A slip with code 134. Since the RL-32 slip cannot be created automatically from the T4A data entry screen, you will need to create a RL-32 slip from the T4FHSA data entry screen (Jump Code: T4FHSA) to report an amount entered in box 1342 of the T4A slip. A note under box 1342 and a diagnostic have been added to remind you to prepare a RL-32 slip.

T4PS, Statement of Employees Profit Sharing Plan Allocations and Payments (Jump Code: T4PS); and
RL-25, Income from a Profit-Sharing Plan (Jump Code: RL25)

Following an update to the T4PS and RL-25 slips, several boxes have been added to the data entry screen. These boxes allow you to detail the moment when the capital gains (or losses) included in box 38 were realized. As a result, amounts can be entered, and these amounts will be added to the additional information of the RL-25 slip. Since there are no new codes or boxes in the T4PS slip for entry, the custom question Use the following amounts in the T4PS slip notes? has been added. When the answer to the question is Yes, the amounts entered in the new boxes Capital gains (or losses) realized before June 25, 2024 and Capital gains (or losses) realized after June 24, 2024 are transferred to the T4PS slip notes. This addition makes it possible to have the information on the slip for printing purposes, as this data is not part of the transmission or official printing of the slip, unlike the RL-25 slip. Preparers who wish to print this information automatically on all T4PS slips will be able to do so with the option that can be found in the Profile tab of the preparer profile.

T4RIF, Statement of Income from a Registered Retirement Income Fund (Jump Code: T4RIF); and
T4RSP, Statement of RRSP Income (Jump Code: T4RSP)

Since 2023, the fair market value of RRIFs and RRSPs as of December 31 must be disclosed by the issuer when filing T4RIF and T4RSP slips. This information, which is found in box 38 of these slips, must be transmitted electronically only. Box 38 is therefore not included on the paper slip. The printing conditions of these slips have been modified so that slips containing only a fair market value are no longer printed by default.

You can still choose to print such a slip by selecting the box Select this box if you want to print the slip when it is empty that has been added to the T4RIF and T4RSP data entry screens.

To select this box for all slips, the options for T4RIF slips and for T4RSP slips have been added to the new subsection 5, Printing empty slips (containing only data to be transmitted electronically), in section F. Options – Slips, RL slips and Summary in the Profile tab of the preparer profile.

Note that you must use the Print Slips (Ctrl + L) function if you do not want to print empty slips.

T5, Statement of Investment Income (Jump Code: T5); and
RL-3, Investment Income (Jump Code: RL3)

As a result of the changes to the capital gains inclusion rate, modifications have been made to the T5 and the RL-3 slips.

The CRA has added box 34, Capital gains dividends – Period 1 – before June 25, 2024, to the T5 slip, which is presented in the additional information. On the T5 data entry screen, this code can be selected from the drop-down list of one of the three Other information lines. The CRA has also changed the instructions for box 18, renaming it Capital gains dividends – Period 2 – after June 24, 2024. However, the box has not been renamed on the slip.

Revenu Québec has added boxes I-1, Dividends on capital gains realized before June 25, 2024, and I-2, Dividends on capital gains realized after June 24, 2024, to the RL-3 slip. The amounts in these boxes are included in box I, Capital gains dividends, and are presented in the additional information.

If you have completed the T5 and/or the RL-3 slips with a previous version of the program, you will have to reclassify the portion of capital gains dividends realized before June 25, 2024, entered in box 18 in the new box 34.

T1135, Foreign Income Verification Statement (Jump Code: T1135)

The following changes have been made to this form:

In the Identification section, when the country in the reporting entity's address is a country other than Canada or the United States, the field Province or territory must be filled in by the preparer.

In the Certification section, the field containing the signatory's name has been split into two separate fields, First Name and Last Name. As a result, if an override was made in a previous version, it will be replaced by the name of the authorized person in the Identification form (Jump Code: ID). If applicable, a new override will have to be made in the new fields.

If you have completed this form using a previous version of the program, we advise you to review these elements before producing it.

T3010, Registered Charity Information Return (Jump Code: T3010)

The calculations on the T3010 return have been revised and improved:

  • If the custom box None of the situations applies at the top of Section D, Financial Information, is selected, the amount on line 5050, Total amount of gifts made to all qualified donees, of this section now corresponds to the sum of the amounts on the lines Total amount of gifts of Form T1236 (Jump Code: T1236). It is important to select this box and box None of the situations applies in Schedule 6, Detailed financial information, of the return if none of the situations listed applies.

  • If Form T1441 (Jump Code: T1441) is applicable, box T1441 in section T3010/TP-985.22 – Registered Charity Information Return of Form Client letter – Worksheet (Jump Code: LW) will be activated, and a reference will be made in the Client letter – Instructions for filing slips, RL slips and T3010/TP-985.22 return (Jump Code: LETTER).

  • The custom calculation of the property accumulation section in Schedule 8, Disbursement quota, of the return has been improved. Where Schedule 8 is applicable year after year, there is no change. However, if Schedule 8 is not applicable for a period of time and becomes applicable for a year, the custom line Balance, at the end of the preceding taxation year, of the total amounts accumulated minus all disbursements made for the specified purpose that are covered by the permission to accumulate property period will keep a history of the amounts entered on line 5500, Enter the amount accumulated for the fiscal period, including income earned on accumulated funds, minus the amounts entered on line 5510, Enter the amount disbursed for the fiscal period for the specified purpose, to facilitate tracking. The sum of the amounts on line 5500 minus the amounts on line 5510 will be added each year to the custom line previously mentioned when rolling forward a client file. If you rolled forward a file with a previous version of the program, please check that the amount has been carried forward correctly. Finally, line 810, which concerns the accumulation of properties, will no longer be calculated if Schedule 8 is not applicable.

  • The calculation of the custom section Keeping track of disbursement excesses in Schedule 8 of the return has been improved so that the line Net disbursement excess from this fiscal period for the current year is calculated even if Schedule 8 is not applicable. In this case, the amount on this custom line corresponds to the sum of the amounts on lines 5000, 5045 and 5050 of the T3010 return, a calculation similar to that for line 860 of Schedule 8. If you completed your T3010 return with a previous version of the program, we recommend that you review the Keeping track of disbursement excesses section. It is also strongly recommended that you roll forward client files containing a T3010 return with the current version of the program.

T5013 Schedule 12, Resource-Related Deductions (Jump Code: T5013S12); and

T5013 Slip, Statement of Partnership Income (Jump Code: T5013)

As part of Bill C-59, amendments were made to the Income Tax Act to limit the deductibility of net interest and financing expenses of certain corporations and trusts. As a result, the following changes have been made to Schedule 12 of the T5013 return:

  • Line 170, Interest and financing expenses included in Canadian exploration expenses, has been added. Each partner’s share will be shown in the new box 258 of the T5013 slip.

  • Line 270, Interest and financing expenses included in Canadian development expenses, has been added. Each partner’s share will be shown in the new box 259 of the T5013 slip.

  • Line 370, Interest and financing expenses included in Canadian oil and gas property expenses, has been added. Each partner’s share will be shown in the new box 260 of the T5013 slip.

  • Column 8, Interest and financing expenses included in column 7, has been added to the table in Part 4, Foreign resource expenses. Each partner’s share will be shown in the new box 261 of the T5013 slip.

T5013 Schedule 58, Canadian Journalism Labour Tax Credit (Jump Code: T5013S58)

Changes have been made to the amount of maximum annual expenditure per eligible newsroom employee, which has been increased from $55,000 to $85,000. The rate for qualifying labour expenditure incurred in respect of each eligible newsroom employee of a QJO has been increased from 25% to 35%. These changes apply to periods ending on or after January 1, 2023.

T5013 Schedule 63, Return of Fuel Charge Proceeds to Farmers Tax Credit (Jump Code: T5013S63)

On November 22, 2022, Environment and Climate Change Canada announced that the fuel charge program would expand to include Nova Scotia, Newfoundland and Labrador, Prince Edward Island and New Brunswick beginning July 1, 2023. As a result, Schedule 63 has been updated to include new fields to calculate the credit for the additional designated provinces.

T5013 Worksheet C, Reserves on Dispositions of Capital Property (Jump Code: T5013WSC)

To allow data entry with respect to reserves on capital gains realized before June 25, 2024, and after June 24, 2024, the line Disposition in 2024 has been renamed Disposition after 2023 and before June 25, 2024. In addition, the line Disposition after June 24, 2024, and before 2025 has been added. If you prepared this form with a previous version of the program, please validate your entries before continuing filing the T5013 slip.

Country list

The country code ANT, Netherlands Antilles, has been removed from the country list that is primarily used in the T5013 Partnership Information Return, the T5013 Summary and the T5013 information slips. The Netherlands Antilles represented five main islands: Bonaire, Curaçao, Saba, Sint Eustatius and Sint Maarten. If the country code ANT was used, it will not be retained, and a new code will have to be entered.

When the country entered is Other, the three-letter code OTH might appear instead of OMC. This change affects Form T1135, but also certain portions of the T5013 information slips and the T5013 Partnership Information Return, Form Identification (Jump Code: ID), Form T1134 (Jump Code: T1134) and Form UHT-2900 (Jump Code: UHT2900), among others.

 

Québec

COZ-1179, Logging Operations Return (Jump Code: COZ1179)

Several changes have been made to this form, including:

  • The layout of Part 2, Information about the logging operations, has been modified. Some of the information previously displayed on two lines has been grouped together on a single line.

  • Part 5, Logging tax payable, has been divided into three subsections.

  • The excess amount of logging tax payable can now be calculated in the new Part 5.2, Excess amount of logging tax payable.

  • Line 88, Income tax payable according to line 422a of the Québec income tax return, which was previously in Part 7, Other information, has been reclassified to line 77a in the new Part 5.2.

  • Part 8, Deduction for logging tax, has been added. It is used to calculate the logging tax deduction and to determine the amount that cannot be claimed this year but can be carried to a subsequent year. In addition, section 8.3.2, Balance of excess, contains a table showing the amounts from previous years that have been used in a previous year or that may be used in the year concerned. This makes it easier to keep track of amounts to be carried.

If you have completed this form with a previous version of the program, it is recommended that you revise the form before filing it.

FPZ-58, GST/HST Instalments (Jump Code: FPZ58); and

FPZ-558, GST/HST and QST Instalments (Jump Code: FPZ558)

These documents are no longer updated and, upon request from Revenu Québec, should no longer be produced in our programs. You can order them by contacting Revenu Québec’s taxpayer services.

RL-1 Summary, Summary of Source Deductions and Employer Contributions (Jump Codes: RL1SUM T4, RL1SUM T4A and RL1SUM T4ANR)

Significant changes have been made to the RL-1 summary, including:

  • The summary has been renumbered and sections have been added.

  • The table in section 2, Statement of duties paid or payable (formerly section 1), has been modified. Several columns have been added to break down the duties paid or payable according to their nature, such as columns B, QPP contributions, C, QPIP premiums, D, Québec income tax, and E, Contribution to the health services fund. The total of each column will be transferred respectively to lines 44 to 46 of section 3, Source deductions of Québec income tax, QPP contributions and QPIP premiums, and line 56 of section 4, Contribution to the health services fund.

  • Line 23, Additional employee contributions (box B.B of RL-1 slips), and line 24, Additional employer contribution, have been added to subsection 3.1, QPP contributions.

  • Line 49 of section 3, Source deductions of Québec income tax, QPP contributions and QPIP premiums, and line 83 of section 7, Refund or balance due, have been added to explain the reasons for an overpayment.

  • Boxes 90 to 94 have been removed from the remittance slip template. As a result, box 95, Remittance, is now calculated from line 82, Balance due.

  • When a balance is due, an optical recognition line and a payment code will now be generated on the remittance slip. These will be generated only if the identification and file numbers are present on the RL-1 summary. Please note that Revenu Québec prefers payment by Internet using the invoice with the payment code.

If you have completed the RL-1 summary for a fiscal year ending in 2024 using a previous version of the program, it is advisable to review it before filing it.

TP-600, Partnership Information Return (Jump Code: TP600)

Changes have been made to this form. The address of the place where the registers are kept can now be found at the end of Part 2, Information about the partnership. Some information no longer needs to be provided in this part, as boxes 05, 16, 18, 18a, 18b, 21, 21a, 26a, 26b and 27 have been removed. Box 15a has been renumbered 16. In addition, information on the number of RL-15 slips filed now appears in Part 3, Information to enter on RL-15 slips. Finally, signatures are no longer required in sections 4.1, Designated partner, and 4.2, Contact person.

TP-600 Schedule D, Member Corporations’ Shares of Paid-up Capital (Jump Code: TP600SD)

The Summary of qualified property table has been removed from Part 2, Qualified property.

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Version 1.0 – Forms under review

RL-1 Summary, Summary of Source Deductions and Employer Contributions (Jump Codes: RL1SUM T4, RL1SUM T4A and RL1SUM T4ANR); and

RL-1, Employment and Other Income (Jump Codes: RL1 T4, RL1 T4A and RL1 T4ANR)

The temporary versions of the RL-1 slip and summary will not be available ahead of time for the 2025 tax year in this version of the program. For 2025, version 2024-10 of the forms is not accepted by Revenu Québec; for all forms mentioned in the title, you must wait for version 2025-01, which is not available in version 2024 v.1.0 of Taxprep Forms.

 

The following forms are presently under review. They are labelled “Under Review” on screen and “Do not submit” watermark when printing:

  • Forms relating to the T5013 return, Partnership income, its schedules, T5013 slip and T5013 Summary, as well as the electronic transmission of the T5013 return and slip.

  • Forms relating to the TP-600, Partnership Information return, its schedules as well as the RL-15 slip.

  • Form T2200, Declaration of Conditions of Employment.

  • T10 slip, Pension Adjustment Reversal (PARs) or Pension Adjustment Correction (PACs)

  • T737-RCA slip, Statement of Contributions Paid to a Custodian of a Retirement Compensation Arrangement (RCA)

  • T4A-RCA, Statement of Distributions from a Retirement Compensation Arrangement (RCA)

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Version 1.0 – Corrected Calculations

The following problem has been corrected in this version:

Federal

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Installation and Versions

Before installing the program, please read the Installation Procedures which are included with the software package and that are also available in the Installation Procedures Help topic.

Based on the activation key you have entered when installing the program, you will have access to the Gold, Silver or Bronze version. To find out the type of version you have installed, select Help/AboutTaxprep Forms. You will find the information in the Additional Information area of the dialog box.

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Rolling Forward Preparer Profiles

Once you have rolled forward your preparer profiles from last year to the current year, it is important to verify that the options defined with respect to your clients always correspond to your situation for the current season.

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Opening Files and Rolling Files Forward

Client files with the .T24 extension

Client files with the .T24 extension that have been saved with Taxprep Forms 2023 can be opened with Taxprep Forms 2024 without having been rolled forward first. When opening that file, a dialog box displays and asks you if you want to recalculate the file with the current version. By answering yes, you can simply continue working in the file. If you answer no, the data in the file will be locked. It can be unlocked later using the Properties dialog box (File/Properties command).

Client files with an extension other than .T24

Client files with a .T21, .T22 or .T23 extension that have been saved with a 2021, 2022 or 2023 version of Taxprep Forms can also be opened with Taxprep Forms 2024 without having been rolled forward first. To open such a file, access the Open dialog box (File/Open command). Using the Look in: drop-down list, select the directory where the client file has been saved. Then, enter “*.*” in the “File name:” box and press Enter to display the list of client files. You can then select and open the client file you want to access. When opening the client file, a dialog box displays and asks you if you want to recalculate the file with the current version. By answering yes, you can simply continue working in the file. If you answer no, the data in the file will be locked. It can be unlocked later using the Properties dialog box (File/Properties command).

Rolling forward client files

To roll files forward with Taxprep Forms, select File/Roll Forward.

Taxprep Forms 2024 allows you to roll forward client files that were saved with the 2023 version of Taxprep Forms or Cantax FormMaster, which have the .T23 extension, as well as client files saved with Taxprep Forms 2024 or Cantax FormMaster 2024 that have the .T24 and .T25 extension.

Taxprep Forms 2024 also allows you to roll forward client files that were saved with a 2021 or 2022 version of Taxprep Forms or Cantax FormMaster. To do so, access the Roll Forward dialog box (File/Roll Forward command). Using the Look in: drop-down list, select the directory where the client file has been saved. Then, select “CCH Forms (*.T??)” in the “Files of type:” box to display the list of client files. You can then select and roll forward a client file.

Furthermore, Taxprep Forms 2024 allows you to roll forward the files saved with the AvanTax eForms application that have a .T23N extension and the files saved with Intuit’s ProFile FX application that have a .23X extension.

Note: In a rolled-forward file, the taxation year cannot end after December 31, 2025.

Attached notes

Note that the attached notes are rolled forward, unless this option is disabled in the data roll forward options.

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Electronic Filing

Taxprep Forms enables you to electronically transmit data from the T5013 return (Silver and Gold versions) and the following slips and RL slips:

Slip

Version

Bronze

Silver

Gold

NR4

  

X

X

T3

  

X

X

T4

X

X

X

T4A

X

X

X

T4A-NR

  

X

X

T4FHSA

 

X

X

T4RIF

  

X

X

T4RSP

  

X

X

T5

X

X

X

T2202

  

X

X

T5008

  

X

X

T5013

  

X

X

T5018

  

X

X

RRSP

    

X

RL-1 T4

X

X

X

RL-1 T4A

X

X

X

RL-1 T4ANR

X

X

X

RL-2 RIF

  

X

X

RL-2 RSP

  

X

X

RL-2 T4A

  

X

X

RL-3

X

X

X

RL-7

  

X

X

RL-8

  

X

X

RL-11

  

X

X

RL-15

  

X

X

RL-16

  

X

X

RL-18

  

X

X

RL-22

  

X

X

RL-24

  

X

X

RL-25

  

X

X

RL-27

  

X

X

RL-31

X

X

X

RL-32

 

X

X

Mandatory electronic filing

The threshold for mandatory electronic filing of information returns for a calendar year has been lowered from 50 to 5 for information returns filed after January 1, 2024. For the latest information about the penalty for not filing information returns over the Internet, go to canada.ca/mandatory-electronic-filing.

The threshold for RL-24 remains at 50.

Electronic transmission of slips to the CRA

The CRA has made a number of changes to the process with respect to the electronic transmission of tax slips and summaries (XML transmission). For identification purposes, the preparer will now need to provide a CRA transmitter account number when using the My Business Account or Internet File Transfer services, or a Rep ID when using the Represent a Client service. The new transmitter account number should be entered in Tools > Options and Settings > Electronic Services > Identification – Generated. A drop-down list will allow you to select the right account type from the following: the business number, the trust number and the non-resident number. You will then be able to enter the number corresponding to the selected type on line Transmitter account number.

Electronic transmission of slips to Revenu Québec

The maximum number of XML files that can be transmitted per transmitter number for a given taxation year is 3,599. If the preparer reaches the maximum number of files for a given year, he or she will need to request a new transmitter number. Therefore, it is preferable to group slips together into a single file rather than transmitting one slip per file.

Taxation years covered

Revenu Québec only accepts electronic transmissions of the RL slips for the 2024 and 2025 taxation years. Generally, the CRA does not impose restrictions about the taxation year that can be processed. However, as a result of a significant update to the XML service this year, the only electronic transmissions that will be accepted are those relating to the 2024 and 2025 taxation years.

Important dates for Internet transmission

Taxprep Forms 2024 complies with the latest Internet transmission requirements issued by government agencies. Files generated with Taxprep Forms 2024 can therefore be electronically transmitted:

  • To the CRA, starting on January 13, 2025;
  • To Revenu Québec, without any delay (as Revenu Québec’s Internet transmission service has been updated in November 2024).

CRA’s Web Access Code

If you already have a Web access code, you can use it to file your information returns for 2024 and subsequent years.

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Getting Help

Benefit from our Advanced Virtual Agent 24/7!

Since January 1, 2025, the customer support teams offer their high-quality service exclusively through digital channels, and no longer offer incoming phone support.

Register for our Support Platform and log in to our virtual agent to find answers, submit a support ticket or chat with a live agent.

For more details about the web ticketing system and best practices, watch the following “How to” videos:

 

Useful support links:

Knowledge Base

More than 40,000 articles that answer the technical and tax questions most commonly asked to Support Centre agents.

 

Video tutorials

We offer a wide range of useful videos on how the programs work and their most frequently used features.

 

Taxprep Help Centres

Select your program and access the Taxprep help topics. You can also access the help topics by pressing the F1 key from within the program.

 

Support platform to request online support

Submit questions and requests through support tickets.

 

Support website

The support site brings together news, release documents, the Knowledge Base, the Download Centre, and more.

 

Contact the team that can meet your needs

Contact the team that can best meet your needs directly.

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Taxprep e-Bulletin

For your convenience, you are automatically subscribed to the Taxprep e-Bulletin, a free e-mail service that ensures you receive up-to-date information about the latest version of Taxprep Forms. If you want to review your subscription to Taxprep e-Bulletin, visit https://support.wolterskluwer.ca/en/ and, in the Newsletter tab, select Subscription Manager.

You can also register to our Support Platform at https://support.cch.com/oss/canada and submit a support ticket to indicate the products for which you want to receive general information or information on our CCH software (Personal Taxprep, Corporate Taxprep, Taxprep for Trusts, Taxprep Forms or CCH Accountants’ Suite).

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