Income Tax 1

Faculty
Commerce & Business Administration
Department
Accounting
Course Code
ACCT 3370
Credits
3.00
Semester Length
15 weeks X 4 Hrs. per week = 60 Hrs.
Max Class Size
35
Method Of Instruction
Lecture
Online
Hybrid
Typically Offered
Fall
Summer
Winter
Campus
Online

Overview

Course Description
This course covers the fundamental principles and concepts of Canadian federal income tax legislation as it applies to individuals. The course emphasizes the understanding of the conceptual structure of the Income Tax Act and equips students with skills in the application of its rules to practical cases including the use of tax return software.
Course Content
  1. The Canadian Tax System
  2. Income or Loss from an Office or Employment
  3. Taxable Income and Tax Payable for Individuals
  4. Capital Cost Allowances and Cumulative Eligible Capital
  5. Income or Loss from a Business
  6. Income from Property
  7. Capital Gains and Losses
  8. Other Income, Other Deductions, and Income Attribution
  9. Retirement Savings and Other Special Income Arrangements
  10. Procedures and administration as they apply to individuals
  11. Use of Tax Return Software

 

Methods Of Instruction

Class Lecture &/or on-line, demonstration and discussion. 

Means of Assessment
Assignments &/or Tests   20%
Tax Return Software Assignments   10%
Midterm Examination  30%
Final Examination  40%
  100%

STUDENTS MUST WRITE BOTH THE MIDTERM AND FINAL EXAMINATIONS TO RECEIVE CREDIT FOR THE COURSE.

To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.

 

Invigilated assessments include, in-class quizzes, in-class tests, midterm exam(s) and the final exam.

Learning Outcomes

At the end of the course, the successful student should be able to:

 

1. Demonstrate the use of tax law and procedures to solve various tax issues;

2. Demonstrate knowledge of special topics pertaining to individual taxation;

3. Understand the structure of the Income Tax Act;

4. Demonstrate how to obtain tax information to solve issues with regard to personal taxation.

5. Demonstrate the use of tax return software for individual tax returns.

Textbook Materials

Clarence Byrd and Ida Chen.  Canadian Tax Principles, latest edition, Pearson Education Canada (Also used in ACCT 3470)

OR other textbooks as approved by the Accounting department.

Personal income tax software approved by the department & CRA.

Only Faculty of Commerce and Business approved calculators may be used in examinations.

 

Optional:

Canadian Income Tax Act, latest edition.   (Also used in ACCT 3470)

Requisites

Prerequisites

ACCT 1210 with a minimum grade of C OR
ACCT 1235 with a minimum grade of C OR
ACCT 3008 with a minimum grade of C OR
crrently active in the PDD Accounting 

Corequisites

Courses listed here must be completed either prior to or simultaneously with this course:

  • No corequisite courses

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses

Requisite for

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

Course Transfers

Institution Transfer Details Effective Dates
Capilano University (CAPU) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = CAPU BFIN 351 (3) & CAPU BFIN 3XX (3) 2013/09/01 to -
Kwantlen Polytechnic University (KPU) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = KPU ACCT 3335 (3) 2010/09/01 to -
Kwantlen Polytechnic University (KPU) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = KPU ACCT 3335 (3) 2004/09/01 to -
Kwantlen Polytechnic University (KPU) DOUG ACCT 3470 (3) & DOUG ACCT 3370 (3) = KPU ACCT 3335 (3) 2005/01/01 to 2010/08/31
Langara College (LANG) LANG FMGT 2325 (3) 2006/01/01 to -
North Island College (NIC) NIC BUS 223 (3) 2017/05/01 to -
Simon Fraser University (SFU) No credit 2004/09/01 to -
Thompson Rivers University (TRU) TRU BBUS 3220 (3) 2011/09/01 to 2014/08/31
Thompson Rivers University (TRU) TRU ACCT 3220 (3) 2014/09/01 to -
University Canada West (UCW) UCW ACCT 3XX (3) 2009/09/01 to -
University of British Columbia - Okanagan (UBCO) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCO MGMT 2nd (3) 2011/09/01 to -
University of British Columbia - Vancouver (UBCV) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCV COMM 355 (3) 2013/09/01 to -
University of British Columbia - Vancouver (UBCV) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCV COMM 2nd (3), Exempt UBCV COMM 355. 2004/09/01 to 2011/08/31
University of British Columbia - Vancouver (UBCV) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCV COMM 2nd (3), Exempt UBCV COMM 355. 2004/09/01 to 2011/08/31
University of British Columbia - Vancouver (UBCV) UBCV COMM 2nd (3), Precludes credit for UBCV COMM 355. 2011/09/01 to 2013/08/31
University of British Columbia - Vancouver (UBCV) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCV COMM 355 (3), Not for credit in Commerce. 2013/09/01 to -
University of Northern BC (UNBC) UNBC COMM 2XX (3) 2004/09/01 to 2011/08/31
University of Northern BC (UNBC) UNBC COMM 313 (3) 2011/09/01 to -
University of the Fraser Valley (UFV) UFV BUS 345 (3) 2004/09/01 to -
University of Victoria (UVIC) UVIC COM 4XX (1.5) 2013/09/01 to -
University of Victoria (UVIC) UVIC COM 400 (1.5) 2004/09/01 to 2009/08/31
University of Victoria (UVIC) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UVIC COM 425 (1.5) 2011/09/01 to 2013/08/31
University of Victoria (UVIC) UVIC COM 4XX (1.5) 2009/09/01 to 2011/08/31

Course Offerings

Winter 2021

CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14171
Mon
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Lin
Yuh-Ren
Open
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
25
10
0
Days
Building
Room
Time
Mon
18:30 - 21:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
14596
Tue
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Chenkov
Ivan
Waitlist
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
35
0
8
Days
Building
Room
Time
Tue
12:30 - 15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
15057
Mon
04-Jan-2021
- 12-Apr-2021
04-Jan-2021
12-Apr-2021
Chenkov
Ivan
Waitlist
Online
This course will include some synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Synchronous on-line activities may include lecture, or they may not. In some courses, synchronous class time may be used instead for active learning components (e.g. discussions, labs).
Max
Enrolled
Remaining
Waitlist
35
35
0
9
Days
Building
Room
Time
Mon
12:30 - 15:20