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e-Bulletin # 20180518-1
Date: 2018-May-18

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Corporate Taxprep
Corporate Taxprep 2018 v.1.0 Launch

We are pleased to announce the release of Corporate Taxprep 2018 v.1.0.

This version can be used to prepare corporate tax returns for taxation years beginning on or after January 1, 2016, and ending on or before October 31, 2018.

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 www.wolterskluwer.ca Web site.

Download Now!

The CD-ROMs will be shipped starting the week of May 27, 2018.


What's new in this version

The following is a brief summary of the changes included in Corporate Taxprep 2018 v.1.0.

  • New form: T217 – Election, or Revocation of an Election, to Use the Mark-to-Market method (Jump Code: 217)
    This form allows a taxpayer, for taxation years beginning after March 21, 2017, to make an election to use the mark-to-market method of income recognition for all of his or her eligible derivatives or to file a request with the Minister to revoke such an election.

  • Applicability of Schedule 7 – Aggregate Investment Income and Active Business Income (Jump Code: 7)
    As a result of the update by the CRA of the text for question 207 in Schedule 200 (Jump Code: J), the applicability of Schedule 7 has been modified.

  • New form: CO-156.TZ – Additional Deduction for Transportation Costs of Small and Medium-Sized Businesses Located in a Special Remote Area (Jump Code: 156TZ)
    This form allows an eligible corporation to claim the additional deduction for transportation costs of small and medium-sized businesses located in a special remote area in the calculation of its net income for a taxation year that starts after March 28, 2017.

  • Schedule 8 WORKCHART – Capital Cost Allowance (CCA) Workchart (Jump Code: 8 WORKCHART) – New part to calculate the additional capital cost allowance in Québec
    Part “Additional capital cost allowance (CCA) for Québec” has been added to Schedule 8 WORKCHART to calculate the additional CCA amounts for qualified property in CCA classes 50 and 53.

To learn more about Corporate Taxprep 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

Corporate Taxprep requires an activation key to install the program and related optional modules (Specialized Information, Corporation Internet Filing or Network). If you choose to use them, 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.


Training

To consult the different training sessions available, access the “Training” section of the Taxprep Web site. To do so, in Corporate Taxprep, select Get Taxprep Training in the Help menu.

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

For Taxprep and CCH iFirm Tax training, please contact the Professional Services team at learning@wolterskluwer.com.