[Ian_CGA]

When will the tax return be changed to reflect the Ontario small business deduction of $500,000?

[Jennifer C]

We've been told October 2008.

[tundrabarone]

We are already in November and the CT23 section dealing with small business deductions has not been updated. I wonder if there is a problem at the programming level. We have had a client with a re-assessment who received a tax refund thanks to the increase in the IDSBC (incentive deduction for small business corporations). It just would be handy to automatically calculate things properly to work out the necessary tax provisions.

[Hardev@Intuit]

tundrabarone, on Nov 11 2008, 08:14 PM, said:

We are already in November and the CT23 section dealing with small business deductions has not been updated. I wonder if there is a problem at the programming level. We have had a client with a re-assessment who received a tax refund thanks to the increase in the IDSBC (incentive deduction for small business corporations). It just would be handy to automatically calculate things properly to work out the necessary tax provisions.

Ministry of Finance Ontario instructed us not to implement the Ontario small business deduction of $500,000. Currently, they are accepting the CT23 returns as filed and reassessing them to process the refund based on the new small business deduction limit.

We recently received communication from the Ministry to go-ahead and include the new small business deduction limit of $ 500,000. This revised limit will be availabe in the next Profile T2 release early in the new year and until then the Ontario Ministry will accept CT23 returns as filed.

Hardev

[TaxDog]

Hardev@Intuit, on Nov 12 2008, 02:52 PM, said:

Ministry of Finance Ontario instructed us not to implement the Ontario small business deduction of $500,000. Currently, they are accepting the CT23 returns as filed and reassessing them to process the refund based on the new small business deduction limit.

We recently received communication from the Ministry to go-ahead and include the new small business deduction limit of $ 500,000. This revised limit will be availabe in the next Profile T2 release early in the new year and until then the Ontario Ministry will accept CT23 returns as filed.

Hardev

I got an e-mail from a colleague who uses taxprep, and the taxprep T-2 program is being updated the end of November. Do you have an actual date when it will be updated in ProFile?

[tundrabarone]

As of the current update to Version 2008.0.2 which I just downloaded on November 28 2008.
The answer would appear to be that Profile has not updated that "major" calculation.

Will admit that I am annoyed that Profile is falling behind TaxPrep for necessary updates.

[Hardev@Intuit]

tundrabarone, on Nov 28 2008, 07:34 PM, said:

As of the current update to Version 2008.0.2 which I just downloaded on November 28 2008.
The answer would appear to be that Profile has not updated that "major" calculation.

Will admit that I am annoyed that Profile is falling behind TaxPrep for necessary updates.

Updated Ontario small business deduction of $500,000 will be available in the upcoming Profile release (version 2008.1.0) during the second half of December.

[David Blue]

All you accountants who complete Ontario returns, lets not be so harsh with Profile on not getting a small thing like the Ontario Business deduction updated, Look at all the other issues they have to fix ,see known issues from program. How can you expect them to work on a small issue like that when they are working on implementing and training for the NEW 300.00 SUPPORT PROGRAM. Really, what is more important, Cash flow to Profile or fixing small things and who knows with all our complaining about things they may have become depressed and we all know that when employees become depressed and get small _ _ _ _ _ envey of the other guys tax stuff productivity falls off. We should all just be gratefull and full of praise that it was done as quickly as it was. and also remember It is never Profiles fault, it must be some other Government agency or group that is responsible for the issues and updates not being done.

Harv, if you want to bame the Ontario Tax Depoartment: Scan and Post the written communication you would have received telling you not to update the software.

[BalancedBooks]

David Blue, on Dec 3 2008, 03:35 PM, said:

All you accountants who complete Ontario returns, lets not be so harsh with Profile on not getting a small thing like the Ontario Business deduction updated, Look at all the other issues they have to fix ,see known issues from program. How can you expect them to work on a small issue like that when they are working on implementing and training for the NEW 300.00 SUPPORT PROGRAM. Really, what is more important, Cash flow to Profile or fixing small things and who knows with all our complaining about things they may have become depressed and we all know that when employees become depressed and get small _ _ _ _ _ envey of the other guys tax stuff productivity falls off. We should all just be gratefull and full of praise that it was done as quickly as it was. and also remember It is never Profiles fault, it must be some other Government agency or group that is responsible for the issues and updates not being done.

Harv, if you want to bame the Ontario Tax Depoartment: Scan and Post the written communication you would have received telling you not to update the software.

Gee David, kind of harsh don't you think? You buy a tax software package and actually expect it to calculate the proper amount of tax expense? Standards are kind of high in the sky.

You know they are doing the best they are going to do and that "quality" has not improved for a few years now.

We seem to be the inconciderate ones by continuing to buy the product eventhough we are clearly unhappy with the performance of the company.

Perhaps we should improve ourselves first and then Intuit will follow suit.

Dan

[Gordon Wiber]

My understanding taxprep updated for this feature on Nov-21-2008.

[David Blue]

BalancedBooks, on Dec 4 2008, 05:00 PM, said:

Gee David, kind of harsh don't you think? You buy a tax software package and actually expect it to calculate the proper amount of tax expense? Standards are kind of high in the sky.

You know they are doing the best they are going to do and that "quality" has not improved for a few years now.

We seem to be the inconciderate ones by continuing to buy the product eventhough we are clearly unhappy with the performance of the company.

Perhaps we should improve ourselves first and then Intuit will follow suit.

Dan

You may be right Dan, The Ontario Issue does not directly affect me as I only have one Ontario, T2...What does affect me is all the other known issues not being fixed FOREVER
The only reason I havent changed is that after 10 years with one software package I have become "Institutionalized" so to speak. I don't want the learning curve associated with new software.
But I will say that I am near my breaking point.

The quality issue is directly related to the removal of Cam and Steve and the continual turnover of leadership at head office Intuit Edmonton or the lack of it. I am not sure which way to phase.

I am still waiting for Harv to scan and post the letter from Ontario Tax / finance whatever its called to prove that "THEY" told INTUIT not to update as he said. I don't think it will be done.

Dan, I do feel your pain, nothing is so embarassing as giving a client his T2 returns and having to tell them , I know they are wrong, but don't worry, the Government will correct them...........etc.

[tundrabarone]

To quote Dan: Nothing is so embarassing as giving a client his T2 returns and having to tell them , I know they are wrong, but don't worry, the Government will correct them...........etc.


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As professionals, it has been disconcerting to indicate to clients that we are giving them potentially inaccurate tax returns and thus inaccurate financial statements. Fortunately we have been able to use the over-ride feature.