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When calculating a 2006 trust return, DT Max issues the following
diagnostic:
The government regulations require
tax returns be filed on the previous year’s approved
forms when current year forms are not yet available, all
prescribed forms are those approved for the 2005 tax year.
These calculations are based on the
2005 tax rules and forms. The rates and limits have been
updated for 2006 where this information is available.
Use this only for planning purposes,
or for filing before the final 2006 program is available.
This is based on information available
at 31/12/2005.
Typically, T3 forms for a given tax year are only released
by the CRA at the very end of the calendar year. Filing 2006
T3 returns on 2005 forms is not only acceptable but standard
practice. Note however that there is a possibility of unexpected
assessments due to subsequent budgetary changes.
This message will be removed from DT Max when 2006 returns
are produced with the version of DT Max T3 that contains
official 2006 forms (early 2007).
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