ADVANCE UPGRADE NOTICE
We are pleased to announce that the new Property Transfer Tax (PTT) calculations will become available in our ProSuiteTM Version 8.4.3 on Saturday, March 12th, 2016. During the upgrade ProSuite will be unavailable to customers between Friday, March11th at 10:00 pm and Saturday, March 12th at 6:00 am.
BUYERS>NAME TAB CHANGES
Only buyers that are Canadian citizens or permanent residents are eligible for the new PTT exemption for Newly Built Homes. To facilitate the PTT calculation under this circumstance, a new PTT Interest Acquired field and a new Canadian citizen/permanent resident field will be added to the Buyers>Names tab. If the buyer contact record Citizenship field = Canadian this new Canadian citizen field will be checked automatically. If you have not set the citizenship in the buyer contact record, or a permanent resident is applicable, you can simply select the new field on this screen.
PROPERTY>LEGAL TAB CHANGES
Exemption code 49 – Newly Built Homes will be added to the Code drop down.
PTT TAX CALCULATION CHANGES
The new PTT calculations for exemption 49 – Newly Built Homes will be available. This calculation requires the following:
- Property>Legal tab Code field must be set to 49
- Each Buyers PTT Interest Acquired field must be set to the appropriate percent acquired
- Each Buyers Canadian citizen/permanent resident field should be set correctly
- Net land value must be less than $800,000
The PTT calculation for property with a Net Land Value over $2 million will be available. This calculation requires the following:
- Net land value must be greater than $2 million
- Completion date must be later than February 16, 2017
How Do You Upgrade?
Automatic Installation during Initial Login:
- When a new ProSuite software upgrade is available, ProSuite will automatically download and install the new version the first time you launch the application on your computer following the release.
- The software download and upgrade usually take about 5 to 10 minutes for a simple update, but depend on several factors including: the available network bandwidth at your office, the size of the upgrade and how many upgrade downloads are occurring at the same time.
- ProSuite will display the status of the download and upgrade.
- When the upgrade has completed, you will be able to login to ProSuite.
If you require further assistance, please contact customer service at 1.866.367.7648 or firstname.lastname@example.org.