ACA140 - Taxation

Outline information
Schools offering this subject
Last revision date Mar 18, 2019 8:40:37 AM
Last review date Mar 18, 2019 8:40:46 AM

Subject Title

Subject Description
This course offers an overview of the taxation of personal and corporate incomes of Canadian taxpayers as well as related tax planning and GST implications. It provides a detailed examination of the federal income tax law concerning income of individuals from employment, business and property. The implementation of the law and its effects, and issues in tax planning and other practical matters are explored. Legal interpretations of tax law are examined through practical problems and cases.

It is designed to give a basic understanding of the Income Tax Act and its administration. This is achieved by applying the law to practical problems and cases. Topics covered include administration of the tax system, residence, employment income, business and property income, capital gains, other income and deductions, computation of taxable income and taxes payable for individuals.

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

'The minimum grade to pass this course is C (60%) and the minimum program GPA to graduate from the Advanced Accounting & Finance program is 60% or C.


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.

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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 Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.