Canadian tax preparation software
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e-Bulletin # 20190213-1
Date: 2019-Feb.-13

Personal Taxprep
Release of Version 2.0 of Personal Taxprep Classic 2018

We are pleased to announce the release of version 2.0 of Personal Taxprep Classic 2018, which is now available for download.

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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The CD-ROMs will be shipped starting the week of February 17, 2019.

This version contains most of the forms released by the tax authorities for the 2018 taxation year. These forms were approved and allow you to file income tax returns for taxpayers who do not require the forms listed in the "Calculations and Forms Under Review" section of the Release Notes. In addition, returns can be EFILED with this version of Personal Taxprep Classic. For information on the transmission system schedule, please refer to the "Electronic Filing" section of the Release Notes.

Here is a brief summary of the main changes:

  • Capital Cost Allowance (CCA) Workchart
    As a result of the publication of the Fall Economic Statement 2018 by the federal Government on November 21, 2018, the CCA calculation has been modified to take into account the new measures about accelerated investment incentive property, acquired and available for use after November 20, 2018. These calculations also apply to the calculation of the capital cost allowance of Québec, except for certain properties in CCA classes 14, 14.1, 44 and 50, acquired after December 3, 2018, that, instead, are properties qualified for the accelerated depreciation special rules in Québec.

  • Forms relating to business, fishing and farming income and employment expenses
    The returns covered by these forms can be EFILED with version 2.0 as the CCA calculation was modified to take into account the new measures announced in the November 21, 2018 Federal Economic Statement with regards to property subject to the accelerated investment incentive. However, paper filing is not allowed as the final versions have been received too late to be integrated to version 2.0 of the program. As a result, a “Do not submit” watermark will print on the forms. To paper file a return, use version 3.0 of the program, which is scheduled to be released at the beginning of March. TP1 returns can be filed on paper and electronically with version 2.0 as the CCA calculation and the corresponding form have been updated.

For more information with regards to these changes, consult the Release Notes.


Activation Keys

Personal Taxprep Classic requires an activation key to install the program, which includes various modules. 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 Personal Taxprep Classic 2018, the activation key will not be required.


Training

To consult the different training options available regarding Personal Taxprep Classic (seminars, webinars, tutorials and more), access the Training section of the Taxprep Web site. You can also access it from the program, by selecting 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 https://www.taxprep.com.

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