Curriculum Guideline

Income Tax 1

Effective Date:
Course
Discontinued
No
Course Code
ACCT 3370
Descriptive
Income Tax 1
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201420
PLAR
No
Semester Length
15 weeks X 4 Hrs. per week = 60 Hrs.
Max Class Size
35
Contact Hours
Lecture 4 Hours per week
Method Of Instruction
Lecture
Methods Of Instruction

Lecture, demonstration and discussion. 

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. Students who plan to transfer to the CGA program are advised that there is a five-year time limit for transfer of ACCT 3370 and ACCT 3470 to CGA TX1.
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

 

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.
Means of Assessment
Assignments (minimum of 2) 10%
Tax Return Software Assignments (minimum of 2) 10%
Midterm Examination 40%
Final Examination 40%
100%
STUDENTS MUST WRITE BOTH THE MIDTERM AND FINAL EXAMINATIONS TO RECEIVE 
CREDIT FOR THE COURSE.
Assignments (minimum of 2)  10%
Tax Return Software Assignments (minimum of 2)  10%
Midterm Examination  40%
Final Examination  40%
  100%

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

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 department.


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)

Prerequisites

(ACCT 1210 with a minimum grade of C OR
ACCT 1235 with a minimum grade of C)

(ACCT 1210 with a minimum grade of C OR ACCT 1235 with a minimum grade of C)

Which Prerequisite