Jan. 15, 2012 - Training Videos are Online
We have created several training videos covering all aspects of eForms; from purchase and installation right through to filing an electronic return. If you have any questions on how to use AvanTax eForms, we encourage you to view the appropriate video. Videos average about 6 minutes in length and are available here.
Dec. 15, 2011 - CRA Regulations for Reporting CPP & EI Earnings
According to new CRA regulations for the 2011 taxation year, EI insurable earnings (box 24) and CPP/QPP pensionable earnings (box 26) must always be reported on the T4 slip.
Prior to 2011, if box 24 or box 26 was left blank it was assumed to be equal to the lesser of employment income (box 14) and the maximum insurable/pensionable earnings for the year. Under the new regulations, a zero or blank in the field means the insurable/pensionable earnings for the year were zero. Hence, the preparer must now ensure that the correct amounts are entered in these two boxes.
Release 2011.1.2.121 and later of AvanTax eForms takes these changes into consideration. The data entry routines are optimized to set these numbers initially to the amount in box 14 (employment income), limited to the appropriate maximum. However, the user is required to verify that the correct amounts are entered if there is an exception. Similarly, users who import T4 data from a spreadsheet must enter the correct amounts in the pensionable and insurable earnings columns in the spreadsheet.
Refer to the User Guide for information on using TOOLS > GLOBAL CHANGES to update existing data.
Dec. 1, 2011 - New Forms Added
The following new information returns have been added to AvanTax eForms for 2011:
- RRSP - RRSP contribution receipt return for issuers
- T5008 - Statement of Securities Transactions
- TFSA - TFSA Individual Record - Annual Information Return
- RL-18 - Securities Transactions
