Course Name (short): Canadian Personal Tax
School: Business
Program(s): Accounting in Canada
Program Coordinator(s): Sally Mitzel
Course Leader or Contact: Lorraine Cipparrone
Originator: Cheryl-Anne Shirley
Designate: Cheryl-Anne Shirley
Version: 1.03
Status: Approved (APPR)

Calendar Description
Students learn the Statutory Payroll Deductions in compliance with Federal Legislation and examines fundamental regulations of the Income Tax Act as they apply to the taxation of individuals. Tax preparation software is overviewed to support tax calculations, preparation of official forms and general reporting requirements under current legislation.

Typical Instructional Format

Courses may be offered in other formats.

Section I Notes: N/A

Detailed Description
In this preliminary examination of the Canadian Income Tax system, students first address compliance with Federal Legislation in regards to Statutory Source Deductions, including the Canada Pension Plan, Employment Insurance and Income Tax. Through the use of in-class exercises and discussions, students demonstrate the necessary knowledge and skills to apply aspects of fundamental payroll practices, including the preparation of required remittances and year- end filings to government agencies. Students are then introduced to the Income Tax Act and its general principles as they apply to the taxation of individuals. Through lectures, case studies and group work, students learn to evaluate tax consequences in various scenarios by interpreting the Act's regulations to practical situations. Personal tax credits, sources of income and eligible deductions from income are illustrated in this component by using a T1 General and its associated schedules. Once the theoretical aspects of this course have been delivered, tax preparation software is overviewed. Through individual hands-on practice, students integrate their concepts of personal taxation within the software itself, as it further supports comprehensive tax calculations, the organization of detailed official forms and manages reporting requirements under current legislation.

Program Context

 Critical Performance:

By the end of this course, students will have demonstrated the 
ability to: prepare regulatory withholding submissions and personal 
income tax returns under the Canadian Income Tax system.

Learning Outcomes:
To achieve the critical performance, students will have demonstrated 
the ability to:

1. Describe the purpose of the Canada Pension Plan, Employment 
   Insurance and Income Tax. 
2. Discuss formal payroll procedures and legislative compliancy 
   responsibilities.
3. Differentiate between various personal tax credits using a TD-1 
   form and worksheet.
4. Use Canada Revenue Agency tables to determine statutory deductions 
   applicable to employment earnings and benefits.
5. Resource on-line documents, such as relevant guides and forms, to 
   repare government withholding remittances and year-end information 
   slips.
6. Explain who is liable for income tax and the importance of 
   establishing 'residency'.
7. Identify key elements in the basic administration of the tax 
   system and the differences between tax planning and tax evasion.
8. Analyze income from employment, personal non-incorporated 
   businesses, property and miscellaneous sources and the appropriate 
   deductions available under each source of income.
9. Calculate gains/losses from the disposition of personal capital 
   property, taxable income and taxes payable.
10.Complete a personal income tax return with supporting schedules 
   and forms, both manually and on tax preparation software.
11.Communicate professionally in both oral and written form.
12.Incorporate ethical standards in payroll and tax preparation 
   activities.

Assignment #1 -  15%
Mid-Term Test -  30%
Group Work    -  10%
Assignment #2 -  15%
Final Test    -  30%

Total           100%

Buckwold and Kitunen, Canadian Income Taxation, Planning & Decision 
Making, 2008/09 Edition, Mcgraw-Hill Ryerson

Week  Topic	                 Resources	        Evaluation
			
      Course Intro & Overview                           Ice Breaker

1a)   Payroll - LO's 1 & 2       Handouts/              Assignment #1
1b)   Payroll - LO's 3 & 4       CRA On-Line/WebCT      Workshop
	                         Text - Chapter #10
                           	
2a)   Payroll - LO 4             Text - Chapter #4      Workshop
2b)   Payroll - LO's 4 & 5	 Handouts/CRA On-Line/	Assignment #1 
                                 WebCT	                Due 15%

3a)   Intro to Tax - LO's 6 & 7  Text - Chapter's #1-3  Review 
                                                        Assignment
3b)   Mid-Term Test 30%                                 Instructor    
                                                        Feedback

4a)   Taxation & Lab - LO 8      Text - Chapter's #4,5  Review 
                                 ,7,9                   Mid-Term Test
4b)   Taxation & Lab - LO 8	 Quick Tax/             Assignment #2
	                         CRA On-Line/WebCT	

5a)   Taxation & Lab - LO 8      Text - Chapter's       Workshop
5b)   Taxation & Lab - LO 9      #7,8,9
	                         Quick Tax	        One Minute
                                 /CRA On-Line/WebCT     Paper 

6a)   Taxation & Lab - LO 10     Text - Chapter #10     Workshop
6b)   Taxation & Lab - LO 10	 Quick Tax/             Assignment 
                                 CRA On-Line/WebCT      #2 Due 15%
	
7a)   Group Presentations        Rubrics-Self/          Review
7b)   Final Test 30%             Peer Evaluations       Assignment
                                                        Course	     
                                                        Evaluation