Tax Planning (AMFA Program)

Most Canadians wish to contribute to society by paying their fair share of taxes and understand that the services provided by the government are financed out of the taxes they pay. However, Canadians also want to manage their tax expense wisely. 

An important part of your role as an advisor is to offer general advice about tax issues. You should therefore have a sound knowledge of the federal income tax rules. As an advisor, though, you do not need to be a tax expert. In fact, many situations require that you refer clients to such experts rather than taking on that role yourself.

In this course, you will learn about the importance of addressing income tax issues in financial planning. The course covers three tax planning strategies: eliminate, reduce, and defer taxes payable by clients. 

The course will also cover how income taxes are calculated on personal income tax returns and the rules that apply to taxation of investment income. Other subjects covered include tax minimization techniques and taxation of the different types of business structures.

The course is one of seven within the Advanced Mutual Fund Advice (AMFA) program, which is the learning path required to obtain the Certificate in Mutual Fund Advice. It is also part of the education required for the Personal Financial Planner (PFP®) and Certified Financial Planner (CFP®) designations.  

What Skills Will You Develop?

• The Tax Planning (TAPL) course is designed to help you confidently deliver the right tax guidance advice to your clients based on their individual needs. Completing this course will also help you:
• Improve your understanding of eliminating, reducing, and deferring taxes payable by clients.
• Identify deductions and non-refundable tax credits that your clients can benefit from.
• Learn the various techniques for tax minimization.

Who Should Enrol?

• This course is designed for mutual fund advisors who want to build flexibility into their financial planning careers. 
• It is suitable for entry-level professionals who may already have their mutual fund licence, including both junior mutual fund dealing representatives and more senior reps who want to transition from a transaction-based business to one that is focused on providing financial advice.

What Will You Learn About?

• Explain the three strategic categories of effective tax planning.
• Illustrate how federal personal income taxes are calculated.
• Describe the type of investment returns and what taxation rules apply to them.
• Differentiate between taxable and non-taxable employee benefits.
• Explain the various techniques used to minimize taxes.
• Compare the features of registered plans that are used for non-retirement goals.
• Identify the types of corporate structures and their relationship to taxes.

How Will You Learn?

• CSI’s online learning system helps you meet your study goals. You’ll benefit from:
• Learning objectives and goals that keep you focused
• Interactive tools to help you evaluate and apply course material
• Course updates
• Assistance from CSI’s academic support specialists

Syllabus:

• Module 1 – Understanding Tax Returns MFDA CE PD Credits: 2
• Module 2 – Tax Reduction Strategies MFDA CE PD Credits: 3