ACA140 - Taxation

Outline information
Schools offering this subject
Last revision date 2018-09-24 00:10:22.307
Last review date 2018-11-05 09:54:29.059

Subject Title

Subject Description
This course covers both personal and corporate taxation. Designed to provide a detailed examination of laws governing taxation of income from employment, business and property, topics covered in the first half of the course include administration of the text system, residence, employment income, business and property income, capital gains, other income and deductions, computation of taxable income and taxes payable for individuals. In the latter part of the course more complex issues are covered including computation of corporate taxes, integration theory, corporate reorganizations, surplus distributions, partnerships and trusts. At the successful conclusion of the course, it is anticipated that students will be proficient at recognizing tax issues, developing planning alternatives, locating proper authority to resolve issues, and communicating courses of action to implement the solutions.
All tax provisions are subject to change. Accordingly, the intent is that students develop an understanding of how the tax law works and incorporate the ability to find and apply the appropriate tax provisions in a variety of situations.

Credit Status
For information regarding exemptions for courses included in CPA’s Advanced Certificate in Accounting & Finance (ACAF) program please see

Learning Outcomes
Upon successful completion of this subject the student will be able to:

Upon successful completion of this subject the student will be able to:

  1. Understand the policy objectives and legislative intent of the technical rules in the Income Tax Act (ITA), in Canada, as they apply to individuals and corporations.
  2. Apply Canadian income tax laws and related planning concepts in practical problems and case settings.
  3. Identify key principles, concepts and terminology used in taxation compliance and planning.
  4. Prepare personal and corporate tax returns and identify complex tax issues and options.
  5. Use the Income Tax Act to determine the tax implications of the issues identified.
  6. Explain from a tax planning concept the difference between tax avoidance, tax evasion and tax planning.
  7. Interpret the law, taking into account the specific wording of the latest statutes, and applicable cases; apply the judicial decisions and weigh the position of the Canada Revenue Agency (CRA, with the intentions of the legislation.
  8. Communicate tax issues and tax implications; analyze the alternatives, and make recommendations.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on for further information regarding cheating and plagiarism policies and procedures.

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Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.