In class lecture &/or on-line, demonstration and discussion.
- Treatment of Losses, Lifetime Capital Gains Deduction, Alternative Minimum Tax
- Taxable Income and Tax Payable for Corporations
- Taxation of Corporate Investment Income
- Other Issues in Corporate Taxation: acquisition of control, investment tax credits, tax basis shareholder's equity, distribution of corporate surplus
- Procedures and Administration as they apply to corporations and trusts
- Corporate Taxation and Management Decisions
- Rollovers under section 85
- Trusts and Estate Planning
- International Issues in Taxation
- Goods and Services Tax and Harmonized Sales Tax
- Payroll remittances as well as Records of Employment
- Use of Tax Return Software
At the end of the course, the successful student should be able to:
- Demonstrate the use of tax law and procedures to solve various tax issues for individuals, corporations, partnerships and trusts;
- Demonstrate knowledge of special topics pertaining to individual and corporate taxation;
- Understand the structure of the Income Tax Act;
- Demonstrate how to obtain tax information to solve issues with regard to personal and corporate taxation;
- Understand the law and procedures that relate to GST and HST;
- Obtain a basic understanding of international taxation;
- Demonstrate the use of tax return software for individual and corporate tax returns.
|Assignments &/or Tests||20%|
|Tax Return Software Assignment||10%|
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.
Clarence Byrd and Ida Chen. Canadian Tax Principles, latest edition, Pearson Education Canada. Or other textbooks as approved by department.
OR other textbooks as approved by the Accounting department.
Resources provided by instructor
Corporate tax software as 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 3370)
ACCT 3370 with a minimum grade of C
Courses listed here must be completed either prior to or simultaneously with this course:
- No corequisite courses
Courses listed here are equivalent to this course and cannot be taken for further credit:
- No equivalency courses