MANITOBA EDUCATION PROPERTY TAX CREDIT

fehrt99 · ‎June 02, 2020

MB479 Line 22 is linked to the Homeowners entry table. Below the information entry section you will se a line labled "Education Property tax credit advance received (previously called RHTA)."

When there are entries in the fields - Property tax paid in 2013 and # months resident in 2013, the "Education Property tax credit advance received (previously called RHTA)." line will populate with the maximum allowable advance value for 2013. This amount then transfers to Line 22.

If this is not the correct amount received then override the amount to the correct value.

After following the above suggestion I get an over ride notice and it has (no difference) following not sure if I should simply leave the over ride or not. Suggestions?

kozakworld · ‎June 02, 2020

Hi, fehrt99 ...

I'm from Manitoba and use the MB479 form all the time.

The scenario you are talking about applies to all year, 2013 to present, and probably backwards to earlier year. Yes, we override the $700 EPTCA credit if it wasn't received, such as if you purchased a new home after the Property Tax statements had already been sent out in May. Lawyers will prorate the Property Taxes, but don't prorate the EPTCA credit. So someone who lived with there parents for the 1st half of the year, then purchased a home in the 2nd half of the year wouldn't have received any EPTCA. Thus they would qualify to receive it based on the prorated Property taxes paid, as documented on the Statement of Adjustments on the purchase of the home.

The Profile Auditor sees the override and reports it, like it does with all overrides. This is important because it is easy to accidentally override a value and not notice it, so the Auditor is a good double check to validate that any overrides were intentionally made. So, yes, you want to simply acknowledge the override by signing off on it. And if the override was an accident, then you use your F2 key to restore the cell to the proper default value.

Hope this explanation helps.

View solution in original post

kozakworld · ‎June 02, 2020

Hi, fehrt99 ...

I'm from Manitoba and use the MB479 form all the time.

The scenario you are talking about applies to all year, 2013 to present, and probably backwards to earlier year. Yes, we override the $700 EPTCA credit if it wasn't received, such as if you purchased a new home after the Property Tax statements had already been sent out in May. Lawyers will prorate the Property Taxes, but don't prorate the EPTCA credit. So someone who lived with there parents for the 1st half of the year, then purchased a home in the 2nd half of the year wouldn't have received any EPTCA. Thus they would qualify to receive it based on the prorated Property taxes paid, as documented on the Statement of Adjustments on the purchase of the home.

The Profile Auditor sees the override and reports it, like it does with all overrides. This is important because it is easy to accidentally override a value and not notice it, so the Auditor is a good double check to validate that any overrides were intentionally made. So, yes, you want to simply acknowledge the override by signing off on it. And if the override was an accident, then you use your F2 key to restore the cell to the proper default value.

Hope this explanation helps.