Bylo Selhi wrote:
Just a revised T3, a blank T1ADJ form and the ass-covering suggestion that we consult our tax pro if we have any questions. What a class act from the folks who just spent a small fortune to "upgrade" the colour scheme of their website to new shades of puke-green
It's actually worse than I first thought. In order to do a T1-ADJ (filed either by paper or online) you have to recompute the entire tax return using the revised T3 data. That gets you to the specific T1 lines that have changed. If you're doing any optimization, e.g. income splitting, then you've got to reoptimize. Finally you use the revided T1 lines to populate fields on the T1-ADJ.
All of this could take several hours, especially if your return is at all complicated and especially if you've generated the return manually. And if you use a tax pro to prepare your return, this exercise could cost you far more than just the extra taxes that arise from the increased dividend income that's on the revised T3 and the time you've wasted on this exercise.
So, should we contact a law firm to stir up a class action in response to TDW's (and/or CAP REIT's) "class act"?
Sedulously eschew obfuscatory hyperverbosity and prolixity.