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Antoine7

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Posts posted by Antoine7

  1. UFile is always concerned about the security of your data.
    As part of this process, we are introducing a new level of security for passwords.
    Please follow on-screen instructions to make sure that your new password
    meets the strong password criteria.

  2. Hello Hamid,

    Unfortunately, the software does not allow you to do an adjustment request.

    For an adjustment of your T2 return a letter must be mailed to tax center that serves the corporation.

    In your request, clearly identify the following:

    1.the name of the corporation

    2.the corporation's business number (BN)

    3.the corporation's tax year

    4.any details that apply

    With your letter, include any relevant supporting documents, such as: revised financial statements, revised schedules

    For more information, please contact CRA corporation tax return department.

  3. Premiums paid into a private health insurance plan - Box 135 of the T4A slip and a RL-1 Box J

    You have received two (2) documents, a T4A slip and a RL-1.

    On the T4A slip, you have an amount in box 135, whereas on RL-1 you have the same amount in Box J as well as boxes A and 211.

    You did not receive a RL-2 with an amount in Box 235.

    The employer or the issuer of the slips has made a mistake, because they are two different plans

    Box 135 of the T4A indicates that the retired employee paid the premium for a private health insurance plan and the Quebec equivalent is Box 235 of the RL-2.

    As for the amount in Box J of the RL-1 slip, it indicates that it was the employer who paid the health insurance premium.

    Please ask the issuer of the slip for explanations.

    Please follow the procedure below:

    1. On the "Left-side menu on the Interview tab", select "T4A and pension income".

    2. On the page on the right click on the plus sign "+" icon on the right of the line "T4A - Pension, Retirement and Other Income".

    3. On the new page generated, go to the line "Footnotes relating to specific T-slip entries and Box 135 (RL-2, Box 235)" and from the drop-down menu after that line, choose the option "Box 135 - Recipient paid premiums for private health services plans" and enter the amount in Box 135 of the T4A.

    This amount will be reported directly in the medical expenses of both the federal and the Quebec returns.

     

  4. Hello Myriam,

    Quebec resident working outside the province

    Your question is: I have worked outside of Quebec in the current tax year, but I reside in Quebec. How do I complete my tax return?

    Please follow the steps below:

    1. On the "Left-side menu on the Interview tab", select "T4 and employment income", and on the screen, that appears on the right, choose "T4 income earned outside Quebec".

    2. Enter the data from the T4 and select the province of employment in box 10.

    3. You may have received an RL-1 slip with amounts showing in Boxes A, J and perhaps in Box E. If so, please return to the "Left- side menu on the Interview tab", select "T4 - Statement of remuneration paid (RL-1) with QPP contributions", and enter the data that appear on the RL-1 slip.

    4. Enter the amounts displayed in the boxes of your RL-1. Also, enter $0,00 in boxes B and I of RL-1 slip.

    5. You will note that federal Schedule 10 will be generated as well as Quebec's Schedule R to consider the differences in rates for both Employment Insurance and the Quebec Parental Insurance Plan (QPIP).

    6. When you click on "Results" tab, you will notice a warning that reads as follows: ''You have employment income that appears to consist solely of taxable benefits. If you received these benefits because of a previous employment... ''. Ignore this warning.

    7. The federal tax transfer for residents of Quebec on line 43800 of the federal tax return, which represents 45% of the amount in Box 22 of the T4 slip, will be carried over by the program.

    For Quebec, line 101 represents the sum of the amount from Box 14 of the T4 slip and the amount from Box A of the RL-1 slip.

    Line 454 of the Quebec tax return (TP1) is equal to line 43800 of the federal tax return.

    By default, the program will transfer 45% of federal tax to line 454 in Quebec. If you wish to change this amount, return to the "Left side menu on the Interview tab" and at the bottom of the page "T4 - Statement of Remuneration Paid" and go to the line "Amount of federal tax to transfer to Quebec" if you want the transfer tax to be less than 45% enter the amount you want to transfer to Québec.

    NOTE: If you did not receive an RL-1 slip from your employer, but he has paid the health insurance premium, this amount is taxable in Quebec. If you have a document from your employers that confirm this, you must fill out an RL-1 slip as if you had received one from your employer. Therefore, please refer to points 3 and 4 of this document.

    The program will generate forms RC381 and LE-35 pertaining to the inter-provincial calculation of the CPP and QPP contributions and overpayments.

  5. Hello Syphix,

    FTQ - How to enter information from the RL-10 slip - Quebec

    You may qualify for the tax credit for the purchase of labour-sponsored funds (LSF) shares if, in the current tax year or within the first 60 days of the following tax year, you acquired Class A LSF shares.

    These shares may also be considered as contributions to your RRSP or to your spouse's RRSP.

    To enter your contributions, please follow these steps:

    1. On the "Left-side menu on the Interview tab", select "Other information slips".

    2. On the screen appearing on the right, choose "RL-10 - Fonds de solidarité des travailleurs du Québec (FTQ)".

    3. Once on this page, on the line ''Period'', click on the drop-down menu and enter the period during which your payments were made by choosing either ''Amounts paid after the 60th day of 2019 " or ''Amounts paid in the first 60 days of 2020".

    4. If you contributed to an FTQ fund, enter the amount from Box A only, and the program will automatically calculate the credit of Box B. The credit will be claimed on the appropriate lines of both the federal and Quebec tax returns.

    Attention: If you have overpaid the Workers' Fund, it is possible that you have amounts of enrollment in boxes C and D. If so, please enter them.

    5. If these shares are contributions to your RRSP or your spouse's, you must specify it. To do so, go to the "RRSP'' section, and for the line ''Amount of contribution eligible for the RRSP deduction", choose the option that applies to your situation from the drop-down menu, and enter the amount of your RRSP contribution if it is not the same amount as Box A of the RL-10 slip.

    6. Then, in the "RRSP contributions, limits" section under the "Left-side menu on the Interview tab", you must specify your RRSP deduction limit as per your latest Notice of Assessment sent to you by the CRA. You should not re-enter the information of the RL-10 in this section, as you have already entered the information on the RL-10 page under ''RL-10 - Québec labour-sponsored tax credit''.

    Your deduction for your RRSP will be carried over on line 20800 of your federal return, as well as on line 214 of your Quebec tax return, and the tax credit for the labour-sponsored fund will be entered on line 41400 of federal Step 5, as well as on line 424 of the Quebec return if applicable.

    The program will carry over your credit, as appropriated, if you need it to reduce your federal or provincial amount of tax payable.

    In the "Review" tab, a "Warning" will be displayed asking you to review your data. Please disregard this message as the program considers the maximum allowable credit.

    For more information about this topic, please consult the following links:
    For the CRA:

    https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/lines-413-414-labour-sponsored-funds-tax-credit.html

    For Revenu Quebec:

    https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/400-to-447-income-tax-and-contributions/line-424/

     

  6. Hello lbootland,

    Rental income

    To enter information about your rental income, follow the steps below:

    1. On the "Left-side menu on the Interview tab", select "Interview setup".

    2.  On the page that appears on the right, go to the "Rental income" group, check the box "Rental property income" also if you paid tax by instalments. Then go to "Tax paid by instalments and tax transfer" group, check the box "Tax paid by instalments and tax transfer" and click "Next" at the bottom of the page.

    3. Return to the "Left-side menu on the Interview tab", select "Rental Income".

    4.  On the page that appears to your right, click on the plus sign "+" icon to the right of the line "T776 - Rental Income property".

    5. Complete the first page entitled "T776 - Rental property identification". On the line for "Percentage (%) of personal use of your rental property", enter your personal use portion of the building. If you do not live in the building, leave the field blank.

    6. Please indicate whether you are sole proprietor or co-owner of the property, to do so, go to the "Type of ownership of the rental property" line and select the option that suits you best from the drop-down menu. Then, on the line "Percentage interest in the partnership" enters your percentage.

    7. On the next page, enter your income and expenses in relation to this property.

    8. If you used the services of a professional contractor to repair your building, use the sub-section "Labor costs" to enter the relevant information. Please make sure in this subsection that the amount of repair has not already been entered in the expenses beforehand: make sure to choose the appropriate option from the drop-down menu for the line "Do you wish to add these labour costs as an expense on the income statement".

    9. If you want to claim depreciation for your property, click on the "CCA" sub-section and select the appropriate class, usually Class 1.

    10. On the page that appears, enter the relevant information. If you do not want to claim depreciation, go to the line "Limit to the CCA or the CECA of this class" and enter "$0.00". However, if you wish to claim a portion of the depreciation or any other amount, it is limited to the maximum amount of this category. Please note that you cannot claim CCA when you have a rental loss.

    11. If you are the co-owner of the building with your spouse or other partner, click on the sub-section "Partners", and on the page to the right, choose your option.

    12. If your spouse is a co-owner of the rental property and completed his or her tax return along with yours, there is no need to enter the information in your spouse's file, as it will be transferred by the program and form T776 will be generated. The same applies for a resident of Quebec and form TP-128 will be produced by the program. However, if your spouse wants to claim expenses different from yours, all the information will then have to be entered again separately in his or her own file. For all other business partners, they will have to enter the information in their own file.

    Forms T776 (federal) and TP-128 (Quebec) will be generated by the program.

    The amount of rental income will be reported on line 16000 (gross) and line 12600 (net) of the federal return and, for Quebec residents, on line 168 (gross) and line 136 (net) of the Quebec return.

    For more information, please consult the CRA website at the following link:

    https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/rental-income-line-126-net-line-160-gross.html

    https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4036.html

    For Quebec residents, you can consult the Revenu Québec website at the following link:

    https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/96-to-164-total-income/line-136/

    https://www.revenuquebec.ca/en/online-services/forms-and-publications/current-details/in-100-v/

  7. Hello Roxanne Charette,

    Add or remove a family member
    To add a spouse, go to the section near the top left of the "Interview" screen and click on "+ add spouse" and go through the "Interview" pages for this person.

    To add a dependant, go to the section near the top left of the "Interview" screen and click on "+ add dependant" and go through the "Interview" pages for this person.

    This dependent may be your Child, grandchild, Parent or Grandparent or a member of your immediate family.

    NOTE: For the dependants the option "Married" is not present in the drop-down list of the line "Marital status". Because the information is only used to allow you to claim certain credits, since these dependents will have filed their income tax returns in advance.

    Consequently, in case the marital status of your dependants is married, and you want to prepare and send their tax returns as well, we suggest you create a new, separate tax file for them, to be able to indicate the right marital status.

    However, in your tax file, please select "Single" for the marital status of your dependants and answer "No" for the question "Does this taxpayer require a tax return?", because the information is used only to allow you to claim certain credits.

    To remove a spouse or a dependant, select their name located near the top left of the interview screen and click the icon "- delete selected", which is located to the right of the interview window line.

    NOTE: It is not possible to delete the Family Head (the first person entered in the data file). If the Family Head is deleted, the information of all members of the family will be deleted.

    image.png

     
  8. Quebec has completely modified the credit on line 391, renaming it "Tax Credit for Career Extension" and setting the maximum tax credit amount at $1,500 if you were 60, but less than 65, or at $1,650 if you were 65 or older, as of December 31 of the tax year.

    Credit reduction for career extension based on income:

    The maximum value of the tax credit will be reduced by 5% for each additional dollar of work income exceeding $34,610, this amount being indexed each year.

    However, for those born before January 1, 1951, your credit is guaranteed up to $600.

    Note that you are not eligible for the Career Extension Tax Credit if the amount if your qualifying income is $5,000 or less.

    To qualify for this credit, you must meet the following three (3) conditions.

    * You were resident in Quebec on December 31 of the tax year;

    * You were 60 years of age or older on December 31 of the tax year.

    * You report for the taxation year one of the following eligible work incomes:

    * Employment income,

    * Income from an active business,

    * A net amount of research grants,

    * Amounts received as part of a work incentive program.

    For more information, please consult the following link;

    https://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/350-to-3981-non-refundable-tax-credits/line-391/

    The credit will be calculated automatically if you qualify for the program.

    However, if you turned 60 during the year, the work income you earned before you reached that age does not constitute eligible work income.

    Do not include income earned before age 60, the program will not calculate your work income earned before age 60, you must calculate it manually.

    Also, if you turned 65 in the tax year, you must report income earned before age 65 because the credit is changed after age 65.

    For those who turned 65 in the tax year, you must manually calculate the income earned before age 65.

    If you were 60 or 65 during the year, please follow these steps:

    1. On the "Left-side menu on the Interview tab", select the "Quebec tax credits" heading.

    2. On the screen to your right, click on the plus sign "+" icon located on the right of the line "Quebec line 391 - Income you earned before turning 60 or 65».

    3. On the page entitled "Quebec line 391 - Income you earned before your birthday", enter the amount on the line "Amount of income earned before turning 60 or 65".

    The program will calculate the tax credit to which you are entitled and report it on line 391 of the Quebec return.

    You can verify the worksheet on line 391 to see if everything is correct. To consult this grid 391, go to the "Left-side menu on the Tax Return tab" and select the line "Worksheet (Quebec) p2" which is located towards the center of the menu.

  9. UFile for Windows

    I have self-employment and/or rental income from 2018 and I carried forward my UFile tax file from 2018 to 2019 using version 23.01 of the software. Is there anything I need to do?

    If you are a business owner and/or have rental property and you attempted to carry-forward your 2018 UFile file to 2019 with the first version of the software (version 23.01*), you will notice that important information was not carried over from 2018 to 2019 for your business or rental property. The information in the Identification section, Motor vehicle expenses, Partners and CCA, and other items may be missing. * Note that version 23.03 was released on January 13 and did not have this issue.

    It is recommended to follow the steps below and redo the carry-forward of your file from 2018 to 2019 to ensure you have the right opening balances of the undepreciated capital cost for your depreciable property and any other missing carry-forward information:

    1- Update your UFile 2019 software if you haven't done so.

    2- Carry forward your UFile tax file again from 2018 to 2019.

    3- If you have already entered data in your 2019 file, you must enter it again.

    Note: Updating the software is not enough to solve the problem. It is necessary to carry forward the file again from 2018 to 2019.

    If you have already started your tax return for 2019 and do not want to start the file over again, then make sure to check the missing carry forwards by referring to your 2018 tax file and enter them manually in your 2019 file.

    Finally, you also have the option to not modify your tax file and wait until the next software update scheduled for February 6, 2020, before continuing in the file. During the next update, the software will try to identify the missing information and notify you so that you can take action if necessary.


     

    UFile ONLINE

    I have self-employment and/or rental income from 2018 and I started my 2019 tax file before January 13, 2020. Is there anything I need to do?

    If you started your 2019 tax file before January 13, 2020, you will notice that important information was not carried over from 2018 to 2019 for your business or rental property. The information in the Identification section, Motor vehicle expenses, Partners and CCA, and other items may be missing.

    This issue is corrected since January 13, 2020, but the correction applies only to 2019 files created after this date.

    For files that were started before January 13, 2020, you have three options:

    Option # 1: Do not modify the tax file and wait until the next software update scheduled for February 6, 2020, before continuing in the file. During the next update, the software will try to identify the missing information and notify you so that you can take action, if necessary.

    Option # 2: Contact our Support team https://www.ufile.ca/contact/contact-us and they will walk you through the steps to follow in order to rectify your file.

    Option # 3: Check the missing carry forwards by referring to your 2018 file and enter them manually in your 2019 file if necessary.

  10. Hello Bill Luey,

    Tax refundable hand in dividends RDTOH

    The amount relating to the refundable tax on hand in dividends must be registered in the company's history.

    To enter the amount relating to tax refundable hand in dividends for the previous year;

    1.      Click on the ''Corporate History'' section available at the bottom of the Interview

    2.      In the drop down menu select the year of the corporate history

    3.      On the form, enter the amount in the field "Refundable dividend tax on hand at the end of the previous tax year "

    For more information about the refundable dividend tax on hand, consult the link below.

    The Canada Revenue Agency - T4012 p. 70 Income tax refundable hand in dividends

    https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4012.html

  11. Hello,

    With UFile T2, you have the option to submit the federal return electronically using a web access code or a transmitter number.

    To request a web access code, please contact Corporation Internet Filing Helpdesk of the Canada Revenue Agency at 1-800-959-2803 or consult the link below.

    CRA – web access code.

    https://www.canada.ca/en/revenue-agency/services/e-services/e-services-businesses/corporation-internet-filing/about-corporation-internet-filing-service.html

    In UFile T2, you could request a web access code in the EFile tab by clicking on the "Federal Efile" option.

    To request a transmitter number, please contact the Canadian Revenue Agency at 1-800-959-2803 or see the link below.

    https://www.canada.ca/en/revenue-agency/services/e-services/e-services-businesses/efile-electronic-filers/apply-efile.html#h3

     

    Quebec EFile info

    In UFile T2, you could submit your Quebec return with your Netfile credentials or using the Clic Revenu method.

    Register your business with clicSÉQUR by clicking on the link below to have access to Clic Revenu.

    Revenu Québec – Clic Revenu

    http://www.revenuquebec.ca/en/sepf/services/scr_inscription/default.aspx

    In addition, use My Account to get your NetFile Québec transmission code

    http://www.revenuquebec.ca/en/citoyen/mon-dossier/comment-vous-inscrire.aspx

     

     

  12. Hello bukymo,

    .COR extension file –Transmission

    UFile T2 creates the *.COR extension when you transmit your tax return electronically through EFile. You won’t be able to download a *.COR extension for your tax return in UFile T2 but by clicking on the link below you could register online for a web access code or EFile number with the Canadian Agency Revenue.

    CRA – web access code

    https://www.canada.ca/en/revenue-agency/services/e-services/e-services-businesses/corporation-internet-filing/about-corporation-internet-filing-service.html

    Corporation Internet Filing Helpdesk – EFile agent number

    https://www.canada.ca/en/revenue-agency/services/e-services/e-services-businesses/corporation-internet-filing/hours-service.html#P35_1022

  13. Hello M123,

    Workers' compensation benefits - T5007 slip

    To enter the amounts from your T5007 slip and your RL-5 slip, please follow the steps below:

    1- In the "Left side menu on the Interview tab", select "Interview setup".

    2- On the page appearing on the right, go to the "Employment and other benefits" group, check the box "Social assistance, workers' compensation (T5007/RL-5)" and click "Next" at the bottom of this page.

    3- In the "Left side menu on the Interview tab", select "Social assistance, workers' comp.".

    4- On the page that appears on the right, click on "RL-5/T5007 - Workers' compensation benefits, social assistance, etc.".

    5- On the page that is displayed, enter the amounts from the slips in the appropriate fields.

    The eligible amount will be entered by the program on lines 144 and 250 of the federal return and, if you are a Quebec resident, on lines 148 and 295 of the Quebec return.

    For more information on this topic, please consult the following links:

    For the CRA:

    http://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-144-workers-compensation-benefits.html

    For Revenu Québec:

    http://www.revenuquebec.ca/en/citizens/income-tax-return/completing-your-income-tax-return/completing-your-income-tax-return/line-by-line-help/96-to-164-total-income/line-148/ 

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