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T10vp (s)


#1

I notice that the simplified version of the T1OVP does not exist in Taxcycle.

Are there plans to include it?

In the meantime does anyone have an excel version of it where the additions are performed in certain cells?


#2

The one in TaxCycle is more comprehensive but it shouldn’t take a lot of work to design one in Excel.


#3

why a simplified form?


#4

CRA created a T1OVP(S) for use by those taxpayers who did not contribute to a group RRSP. As a result there are fewer questions to answer on this form than the T1 OVP. Only the T1 OVP form is accessible in Taxcycle at the moment. In a future version of Taxcycle I would like to see CRA’s T1OVP(S) form accessible. CRA has a fillable pdf version of this form which I am using for a taxpayer who over-contributed in 2016 and 2017.


#5

As a software person who “fell” into taxes, I believe that you will find that having the simplified version of the form will not generate any benefits to you.

How most implementations of simplified forms are produced within software is that you fill in the long version of the form, then print the simplified version. If it is your hope to reduce the questions, it will be unlikely that you will achieve this within the software as it can’t tell if you missed a question for a legitimate reason or if it was an oversight.

Of course, someone from TaxCycle may step in and say that, yes they can do this, but I suspect that they have to code a series of warnings for those questions that you’ve missed and that you will need to sign off.

Given that you already have the complete version of the form available, what benefit will people derive from having the simplified version of the form available when the complete version already handles the situation?