VisualTax News Bulletin...

T2 Barcode filing

Federal T2 returns for the new season can be filed on paper using Barcode printing. See more at T2BarCode.Asp

Proposed tax changes (based on 2006 budgets)

Several changes are expected to be introduced in the new tax programs, based on budget announcements, such as:

Universal Child Care Benefit (UCCB)

Two rates of dividend tax credit (13.3333% and 18.9655%).

New Canada Employment Credit Refundable medical expense supplement increased from $750 to $1,000

New Textbook Tax Credit

Increase of the pension income credit to $2,000 from $1,000

New public transit tax credit New Apprenticeship Job Creation Tax Credit

Deduction for trades people’s tool expenses

The small business tax rate was increased to $400,000 from $300,000, effective January 1, 2007
Complete exemption for scholarship income under certain conditions.

A reduction of the minimum tax on financial institutions.

See more at BudgetChanges.asp

Free investment portfolio and ACB (in T1)

VisualTax™ offers an integrated solution for easy tracking of ACB changes and automatic posting of the correct ACB to S3 upon disposition with expanded functionality to handle foreign transactions. See more at ACBExplain.asp

Free Tax research module (TR)

Users of the T1 Power version will once again enjoy free web access to our TR module. With over 4,000 searchable documents including the Income Tax Act, IT’s, IC’s, Bulletins, Guides, etc., personal and corporate tax research is at your fingertips. TR will save you at least $500 for a similar third party service or software.

TR Details can be found at: TaxResearch.asp

Easy switching to VisualTax

If you are not already a VisualTax user, you can roll-over T1 and T2 client data from selected competitor software into VisualTax with just one click… and our intuitive interface will make you feel that you already know VisualTax™!
See Conversion details at: http://www.visualtax.com/convert.asp

Comprehensive tax coverage

VisualTax can easily handle your most complex returns (all provinces except Quebec) with all forms and optimization algorithms.

• Efile On-line
• Efile Online Plus
• Discounter options
• Multi-user
• Daily cash reports
• Build-in word processor
• Batch printing
• Unlimited self-employment statements and slips
• Principal residence
• Foreign tax credits
• Investment tax credits
• Multiple jurisdictions
• CAIS
• Resource income/expenses Non-resident returns
• Bankruptcy returns
• Deceased returns with comprehensive losses worksheet
• Section 216/217 returns
• Automatic application of losses
• Medical optimization
• Donations optimization
• Family optimizations
• Concurrent loading and processing of multiple returns

Microsophic Inc.

5225 Orbitor Drive, Unit #14,
Mississauga, ON,
L4W 4Y8

Web: http://www.visualtax.com
Email: visualtax@sympatico.ca
Phone: (905) 238-6159
Fax: (905) 625-9384

VisualTax is a trademark of Microsophic Inc.

Productivity features. VisualTax T1 Power has it all!

Exceptional build-in time saving features and accuracy will boost your productivity to its maximum, allowing returns of any complexity to be done in half the time and provide timely and high quality service to your clients.

The Audit manager looking after quality control issues will:

• guide you to prepare error-free returns by pointing out exact problem spots
• give you tips to consider
• optimize your client’s return or his/her family returns.
• detect what income or deductions you missed compared to the previous year.
• allow you to mark questionable items for later consultation with client or tax reviewer/advisor
• show you a Five year summary, Business summary, Slip summary, Family summary, and Tax Summary

The Operations manager looking after your operational efficiency will:

• ensure that you never type a full word again that you typed this or any previous tax year reducing your keystrokes to an absolute minimum
• provide smart links to related forms
• protect you from entering erroneous data
• protect you from changing Efiled accepted returns
• remind you of the need for data backup
• remind you of what returns are coming due
• protect you from changing finalized invoices
• allow you to see last year’s invoice in full

The Forms manager looking after the forms of the return will:

• help you pre-select all forms needed before starting, based on the taxpayer’s profile (Student, Pensioner, etc.)
• display side-by-side the previous year’s forms and data.
• prepare the T1 Adjustment automatically
• highlight what forms have been used
• show you the Form Table Of Contents (TOC). i.e. Where are the 'Partners' in a T2124 form?
• help you find a form by name, some keyword, by direct keyboard access keys, by links from another form or directly from the Tax Summary (T-Sum) or the Family Summary (F-Sum)

The Client manager looking after your client’s data will:

• analyze the profiles of your clients and give you valuable statistics for marketing or business analysis
• copy the data to take with you out of the office
• optionally protect the data via return passwords
• backup the data and manage several back up versions
• filter clients in many ways
• find a client by simple click, by SIN, by phone, by street, by city, by preparation status, by Efile status and more
• produce client listings, client letters and mail-merge user designed letters with your Logo to target specific client groups.
• Export the client data base to other programs (such as Excel)

The Training manager looking after your needs as first time user will:

• show you brief Tutorials to help you start quickly
• show you subject help material for more knowledge
• link you to the Tax Research (TR) material for even more in depth tax laws and regulations

The Email manager looking after Email operations can:

• Email the raw tax return data to yourself, your tax advisor, to VisualTax or other Email address of your choice
• Email a PDF version of the printed return to any Email recipient of your choice

Act now!

Nothing will sell you on the benefits of VisualTax like trying it for yourself. You can download a working demo from:
http://www.visualtax.com/demos.asp
or review screen shots at:
http://www.visualtax.com/ScreenShots.asp

Once you see for yourself the benefits of VisualTax to you and your clients, you can fill out and mail the attached order form with a cheque, or visit our web site for more purchasing options:
http://www.visualtax.com/HowToOrder.asp