TaxTron T2 2025.2 – Release Notes

Summary of Key Updates in TaxTron T2 2025.2

Filing Period Support

• Supports Federal T2 and Alberta AT1 corporate tax returns for taxation years spanning January 1, 2023, to May 31, 2026.

Enhancements and New Features since T2 2024.2

1. Unified Entry for Schedule 9 and Schedule 23

What's New:

Schedules 9 and 23 have been consolidated into a single integrated form to improve usability and streamline data entry.

• Schedule 9: Identifies related and associated corporations.
• Schedule 23: Allocates the business limit among those corporations.

Previously (2024 and earlier):

• Data entry was performed separately for Schedule 9 and the Associates Worksheet for Schedule 23.

In TaxTron T2 2025.2:

• A new "Associates" form now manages:
  • Corporation identification (formerly Schedule 9)
  • Business limit allocation (formerly Schedule 23)
• No changes have been made to calculations—only the entry process has been optimized.
• Users can access the form via Forms Manager → Search "Associates".

Web Version Users:

• No changes required—continue to answer:
• “Is the corporation related or associated with another corporation?” and complete the section accordingly.

2. Introduction of Refundable Investment Tax Credits (ITCs) – Schedules 75, 76, and 78

TaxTron T2 2025.2 introduces three major refundable ITCs aligned with Canada's 2050 net-zero goals:

Clean Hydrogen Investment Tax Credit (Schedule 74)

• Eligibility: For assets available for use between March 27, 2023, and January 1, 2035.
• Refundable credit: Up to 40% of eligible costs.

Clean Technology Investment Tax Credit (Schedule 75)

• Applies to: Class 43.1 and 43.2 properties used for clean energy generation.
• Eligibility: For assets available for use between March 27, 2023, and January 1, 2035.
• Refundable credit: Up to 30% of eligible costs.

Clean Technology Manufacturing ITC (Schedule 76)

• Applies to: Assets used in clean technology manufacturing or critical mineral processing.
• Covers Classes: 8, 10, 12, 38, 41, 41.2, 43, 43.1, 43.2, 53, 56.
• Eligibility: Available for use on or after January 1, 2024, until 2035.

Carbon Capture, Utilization, and Storage (CCUS) ITC (Schedule 78)

• Applies to: Classes 57 and 58 for CO2 capture and storage.
• Eligibility: For assets available for use between 2021 and December 31, 2030.

How to Claim ITCs in TaxTron 2025.2:

1. Begin with Schedule 8 (CCA Workchart):

• Enter details of eligible investments.
• Select the applicable Class Number.
• At the bottom of the worksheet, indicate the ITC being claimed (Clean Hydrogen Investment Tax Credit, Clean Technology ITC, Clean Technology Manufacturing ITC, or CCUS ITC).

schedule (75, 76, or 78) for final details.

Additional Enhancements

• Schedule 8 (CCA) Enhancements:

• Improved logic and updated asset class handling to support ITC-related categories.

• Schedule 130 Enhancements:

• Designed to align Canada's tax regulations with international standards on base erosion and profit shifting (BEPS).
• Effective for tax years starting on or after October 1, 2023.

• Sign-Up for Email Notifications for My T2 Account:

• Email registration is no longer available through the software.

For netfile users:

Changes in receiving WAC and DAC online.

NetFile updates: WAC/DAC access now requires NOA date and tax amount details (Part I Tax, Total Fed Tax, or Net Balance).

Commitment to Efficiency and Compliance

TaxTron T2 2025.2 continues to evolve, ensuring users maximize tax efficiency, streamline compliance processes, and access new sustainability-focused tax incentives.