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e-Bulletin # 20180406-2
Date: 2018-Apr.-6

Taxprep for Trusts
Release of Taxprep for Trusts 2018 v.2.1

We are pleased to announce the release of Taxprep for Trusts 2018 v.2.1.
This program can now be downloaded from our Web site.

IMPORTANT!
The minimum subscription term for this product is one year.
If you have any questions regarding your subscription, please contact Customer Service at cservice@wolterskluwer.com or log on to "My Account" on the https://www.wolterskluwer.ca Web site.

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Version 2.1 Content

Taxprep for Trusts 2017 v.2.1 is an updated version that contains the following changes:

Technical change

An enhancement to the retrieval process of Taxprep files in the event of a system crash or breakdown has been performed. In addition, diskette-type storage mediums (A: or B:) are no longer compatible as this type of medium is now obsolete.

Tax changes

T2042 and T2125 – Capital Cost Allowance (Jump Codes: 2042 CCA and 2125 CCA)
The line Additional CCA of 60% has been added for classes 50 and 53 only to take into account the additional capital cost allowance of 60% for eligible property in classes 50 and 53 acquired after March 27, 2018. This new deduction, which was announced in the 2018-2019 Québec Budget, will replace the additional capital cost allowance of 35% introduced in March 2017.

TP-80 – Business or Professional Income and Expenses (Jump Code: Q80)
The line Additional CCA of 60% has been added to the “Expenses relating to your business activities” section to take into account the amounts entered on the line Additional CCA of 60% in Form T2125, Capital Cost Allowance (Jump Code: 2125 CCA).

Q2042 – Statement of Farming Activities (Jump Code: Q2042)
The line Additional CCA of 60% has been added to the “Expenses” section to take into account the amounts entered on the line Additional CCA of 60% in Form T2042, Capital Cost Allowance (Jump Code: 2042 CCA).

T3 – Trust Income Tax and Information Return (Jump Code: J)
When code number 180, Non-profit organization trust-subsection 149(5) trust or code number 181, Non-profit organization trust-subsection 149(1)(l) trust) is selected in the drop-down list of the “Type of trust” section of Form ID, Trust Identification and Other Information (Jump Code: ID), the code number and its description are now updated to the “Type of trust” section of Form T3, Trust Income Tax and Information Return (Jump Code: J).

Consult the Release Notes for more information.

To learn more about Taxprep for Trusts and become familiar with the new features, consult the program's Help as well as the Release Notes and QuickStart Guide available in the Professional Centre (Go/Professional Centre command).


Activation Key

An activation key is required to install Taxprep for Trusts. Simply enter the applicable key when prompted. To access your activation key, log on to your "Files Centre" from the Taxprep Download Centre page. In the Dashboard page, click the Activation Key(s) button in the “Download” section. If you have already installed a previous version of Taxprep for Trusts 2018, the activation key will not be required.


Videos available in the Professional Centre and on our Web site

To learn more about Taxprep or to become familiar with the different features, consult the videos available in the Professional Centre of the program or at https://www.taxprep.com.