Income Tax II

Curriculum guideline

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Course
ACCT 3470
Discontinued
No
Course code
ACCT 3470
Descriptive
Income Tax II
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
201730
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(s) of instruction
Lecture
Online
Hybrid
Learning activities

In class lecture &/or on-line, demonstration and discussion. 

Course description
This course covers the fundamental principles and concepts of Canadian federal income tax legislation as it applies to corporations, trusts, and partnerships; international taxation for individuals and corporations; tax planning for individuals in relation to corporations; and GST/HST. 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. Treatment of Losses, Lifetime Capital Gains Deduction, Alternative Minimum Tax
  2. Taxable Income and Tax Payable for Corporations
  3. Taxation of Corporate Investment Income
  4. Other Issues in Corporate Taxation: acquisition of control, investment tax credits, tax basis shareholder's equity, distribution of corporate surplus
  5. Procedures and Administration as they apply to corporations and trusts
  6. Corporate Taxation and Management Decisions
  7. Rollovers under section 85
  8. Partnerships
  9. Trusts and Estate Planning
  10. International Issues in Taxation
  11. Goods and Services Tax and Harmonized Sales Tax
  12. Use of Tax Return Softwa