Troubleshooting Memos T12018-014 and T32019-002 – Federal – T1229 – April 10, 2019, update

  • Article Type: Problem Resolution
  • Last Modified: 2019-08-07

Symptoms

An updated version of Form T1229, Statement of Resource Expenses and Depletion Allowance, has been uploaded to the Canada Revenue Agency (CRA) Web site on April 10, 2019.

https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1229.html

In this updated version, the line CDE or COGPE claimed in 2017 (Note 2) has been deleted from the total reductions applied for purposes of the calculation of the Maximum Accelerated Investment Incentive available (part II of the form). 

Since it is no longer necessary to reduce the CDE or COGPE balance by the amount on this line, the Maximum Accelerated Investment Incentive available could be higher than what was claimed.

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Environment

Personal Taxprep Classic 2018 v.4.0 and later 
Personal Taxprep 2018 v.4.0 and later
Taxprep for Trusts Classic 2019 v.3.0
Cantax T1 18.4.3xx.120 and later
CCH iFirm Tax T1 2018
CCH iFirm Tax T3 2018

Cause

N/A

Resolution

You must delete the amounts entered on line CDE or COGPE claimed in 2017 (Note 2) on Form T1229.

If the tax return has already been filed, complete and submit Form T1-ADJ, T1 Adjustment Request, for an individual, or Form T3-ADJ, T3 Adjustment Request, for a trust, in order to reflect this deletion. We recommend that you file both forms (T1-ADJ or T3-ADJ and T1229) in paper format in order to allow the CRA to process the adjustment request properly.
 

Additional Information

Note: You can use the client filter and diagnostic template provided to identify the Personal Taxprep 2018 or Taxprep for Trust Classic 2019 files affected by this problem. To learn how to install this template, consult the following article: How to install the client filter and diagnostic template.

This measure will be integrated in Personal Taxprep 2019 v.1.0, in Taxprep for Trusts Classic 2020 v.1.0, in Cantax T1 19.1.3xx.100, in CCH iFirm Tax T1 2019 as well as in CCH iFirm Tax T3 2019.

Related topic: How do I prepare an amended federal T1 return for paper-filing purposes?
 
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