Optimize

DT Max optimizes various calculations such as the transfer of the dividend tax credit, the optional inventory adjustment (OIA), non capital losses carried forward, capital losses carried forward, the allocation of dependant amounts, medical expenses, charitable donations, etc. DT Max thus decides what portion of certain deductions and tax credits should be claimed, transferred to a spouse or carried forward.

The Optimize keyword group enables you to control these optimizations. Always verify the tax return to make sure that the calculations and allocations of deductions and credits match your client's needs and, if necessary, use the keyword Optimize to select the calculation you wish to modify.

  See the CRA's general income tax guide:
Line 116 - Elected split-pension amount

Control.op

Use the keyword Control.op to choose the appropriate optimization control. DT Max will optimize and allocate deductions and credits in compliance with your requirements with respect to your client's situation.

The following options are applicable for the keyword Control.op.

Transfer to spouse if allowable and optimal

Transfer to spouse

Claim own amount

Family head to claim all

Spouse to claim all

Claim optimal amount (default)

Claim maximum amount

Optimize taxable income to specified amount

Do not claim OIA

Optimize between spouses (default)

Claim own and spouse's donations

Claim own donations only

Claim specified amount

Claim for all family members

Each family member claims own expenses

Carry forward to a subsequent year

Transfer to spouse (if eligible)

Do not transfer to spouse

Give all claims to spouse

Claim all

Share with spouse - claim amount (self)

Do not transfer (default)

Transfer to spouse (optimal)

Transfer to spouse a specified amount

Claim

Do not claim

Claim the Volunteer firefighters' amount

Do not claim the Volunteer firefighters' amount

DT Max optimization (default)

  See the CRA's general income tax guide:
Line 116 - Elected split-pension amount

Control.ops

Use the keyword Control.ops to choose the appropriate optimization control. DT Max will optimize and allocate deductions and credits in compliance with your requirements with respect to your client's situation.

The following options are applicable for the keyword Control.ops.

Claim the support payments made (F220)

Claim the amount (F303/F305)

DT Max optimization (default)

  See the CRA's general income tax guide:
Line 116 - Elected split-pension amount

Amount.op

Use the keyword Amount.op to enter the amount to be optimized. Do not enter an amount to which optimization is not applicable. DT Max will ignore irrelevant entries. The desired optimized amount is always considered a goal or a limit by DT Max, never an override.

  See the CRA's general income tax guide:
Line 116 - Elected split-pension amount

Designation.op

Designation.op Designation - election to tax the child rather than the single family head

The following options are applicable for the keyword Designation.op.

  See the CRA's general income tax guide:
Line 116 - Elected split-pension amount

Transfer-OV

Use the keyword Transfer-OV in a dependant's file if you wish to override the transfer of amounts made automatically by DT Max. Do not use this keyword unless you want to modify the choice made by DT Max.

Claim-By

Use the keyword Claim-By to select the supporting person who will claim the amount for dependent children or the amount for other dependants, available to the family head or the other parent. Only use this keyword if you wish to modify the choices made by DT Max.

The following options are applicable for the keyword Claim-By.

Family head

Spouse of family head

Make claim

Do not claim

Claimed by dependant

To parent (optimal)

Choice made by DT Max

Claim

Use the keyword Claim to indicate which supporting person is claiming a dependant and which type of dependant amount is claimed. Only use this keyword to modify the choice made by DT Max.

The following options are applicable for the keyword Claim.

Percentage %

Specified amount $

Specified amount

Family head

Spouse of family head

Do not claim

Choice made by DT Max

Claim full amount

Include all UCCB amounts in the income of the dependant

Do not include all UCCB amounts

Claim-%

Use the keyword Claim-% to indicate the portion of the year (percentage) during which the person claimed was a dependant to the supporting person. DT Max will prorate the eligible amount accordingly and the amount calculated will be entered on line 25 of schedule A of the Quebec tax return.

Amount.tr

Use the keyword Amount.tr to enter the dollar amount claimed by a supporting person for a dependant.

Share-Claim

Use the keyword Share-Claim to transfer the balance of the dependant amounts to the other supporting person.

The following options are applicable for the keyword Share-Claim.

Transfer balance to other supporting person

Ignore balance

SIN-Share

Enter the SIN of the other supporting person.

Elig-Months-OV

Use this keyword to override the number of months calculated by the program for that child. The amount for young children of line 5823 cannot be claimed for any month a special allowance under the Children's Special Allowance Act was received by anyone for that child.

Elig-Child-OV

Use this keyword to override the eligibility for the amount for young children calculated by the program for that child. The amount for young children of line 5823 cannot be claimed for any month a special allowance under the Children's Special Allowance Act was received by anyone for that child.

Name-Transf

Enter the last name and first name of the person to whom an amount have been transfered.

Amount-Transf

Enter the amount transferred.

Spousal-Amt-OV

Spousal-Amt-OV Spousal or common-law partner amount - controls [Fed. L.303]

The following options are applicable for the keyword Spousal-Amt-OV.

Claim the spousal amount (default)

Do not claim the spousal amount

  See the CRA's general income tax guide:
Line 303 - Spousal amount

EligDepend-Amt

EligDepend-Amt Taxpayer had a spouse but was not living with, supporting, or being supported by that person [Fed. L.305]

The following options are applicable for the keyword EligDepend-Amt.

Married but not living with, supporting or supported by

Use this option to allow a claim for the eligible dependant amount at line 305 if, at any time in the year you did have a spouse or common-law partner but you were not living with, supporting, or being supported by that person.

Default

  See the CRA's general income tax guide:
Line 305 - Amount for an eligible dependant

US-Convert

Use the keyword US-Convert to enable automatic conversion to Canadian currency of the following US income and expenses amounts, based on the CRA's average conversion rate:

$US - Canadian interest income in US funds ( Interest ) $US - dividend income in US funds Amounts entered in the Foreign-Inc group as US amounts Amounts entered using T-Slip and any of the following options: T3 (US funds), T5 (US funds)

CONVERSION TABLE

Only conversion to US dollars is automatic with US-Convert. The U.K. Sterling rates are included in the table for information purposes only.

If US-Convert is set at "Yes", amounts entered in US dollars will be converted at the above rate. Only amounts referred to above are converted automatically.

If an exchange rate is entered in the Foreign-Inc group, this exchange rate will override the US-Convert default rate and the amounts entered in that group will be converted at that rate.

If US-Convert is set at "No", amounts in the Foreign-Inc group should be converted by using the Exchange.t keyword, or be entered in Canadian dollars. All other US dollar amounts should be entered in Canadian dollars.

If you wish to convert foreign currency while entering amounts in your client's file, enter the foreign currency amount and multiply it by the conversion rate applicable to obtain the equivalent amount in Canadian dollars. The [*] key represents multiplication. If you wish, you can set up a DT Max text macro to enter [*1.0660].