Canadian Income Tax

This is a comprehensive introduction to a Canadian Income Tax course, which bridges the gap between theory and practice. This Canadian tax course is designed for those who are just starting to practice Canadian tax as a professional or own a business. 

Students will learn basic rules and principles of filing personal and business income tax and learn about different features within the tax software available on the market.

Learning Objectives:

• File personal and business income tax returns
• Report the different types of income
• Report different types of slips
• Understand tax deductions and tax credits
• Determine which taxable supply applies
• Navigate between Canada Revenue Agency and software resources available
• Know how to manage an audit from the Canada Revenue Agency

Topics Covered in the Income Tax Course:

• Background Theory and Concepts of Taxation
• Rights and Obligations of Taxpayers
• Personal Income Tax
• Corporate Income Tax
• Sources of Income (Employment, Business Activities, Property, Capital Gains, etc.)
• GST/HST/PST
• E-filing software
• Tax Returns, Schedules, Deadlines
• Notice of Assessment (NOA) and Notice of Reassessment
• Savings Accounts(RRSP and TFSA)
• Resources & Recent Industry Changes
• How To Be a Successful Tax Preparer
• Contractors and Commissions
• Audits