Taxation

This course emphasizes the determination of net income for tax purposes, giving detailed attention to the components that make up this figure, including employment income, business and property income, and capital gains. The course also covers taxable income of individuals and tax payable for individuals.

This course is largely concerned with federal income tax legislation, though it gives some attention to provincial income tax procedures.

Admission Requirements

• The prerequisite for this course is Accounting: Introductory Financial Accounting or an equivalent introductory financial accounting course from another college or university.

What You’ll Learn

• Understand and apply the basic tenets of Canadian income tax and GST/HST through an appreciation of the tax principles, concepts, and vocabulary that make up the Canadian tax system framework.
• Describe the key tax entities and their relationships within the Canadian tax system.
• Explain the key processes followed in the Canadian taxation system.
• Perform calculations to determine net income, including employment income, business and property income, and capital gains.