ACCG32000D
Taxation		 Sheridan
 
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
 

Land Acknowledgement

Sheridan College resides on land that has been, and still is, the traditional territory of several Indigenous nations, including the Anishinaabe, the Haudenosaunee Confederacy, the Wendat, and the Mississaugas of the Credit First Nation. We recognize this territory is covered by the Dish with One Spoon treaty and the Two Row Wampum treaty, which emphasize the importance of joint stewardship, peace, and respectful relationships.

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Section I: Administrative Information
  Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Fall 2022
Prerequisites: ACCG32004D
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: 45 credits including ACCG32004D

Program(s): Bach Bus Admin Market Manage, Bach Business Admin Accounting, Bach Business Admin Finance, Bach Human Resources, BachBus Admin Spply Chain Mgmt
Program Coordinator(s): Sean O'Flynn, Carol Bureau, Francis Fasanu, Maryam Hafezi, Mark Weaver
Course Leader or Contact: Humayun Chaudhary
Version: 20220906_00
Status: Approved (APPR)

Section I Notes: This course will be delivered in a face-to-face or hybrid format.
 
 
Section II: Course Details

Detailed Description
Students examine Canadian federal income tax legislation to determine income and taxes payable for individuals. Related rules from the Goods and Services Act are also reviewed. Students develop the techniques and skills required to apply this tax knowledge to various situations. Topics include liability for tax; income from employment, business, property, other income and capital gains; taxable income, taxes payable; and the rights and obligations of taxpayers. By comparing and analyzing common layout and structure of the Income Tax Act and identifying and distinguishing the exceptions, the student develops a strong framework for making tax related decisions. Through a combination of interactive lectures, class discussions, in-class exercises, numerous situational examples, case studies, research and assignments, students analyze individual circumstances and determine the applicable legislation. Students predict the tax consequences of events and propose alternative courses of action which will result in a more desirable tax treatment.

Program Context

 
Bach Bus Admin Market Manage Program Coordinator(s): Carol Bureau
This course further develops decision making skills to interpret Canadian federal income tax legislation relating to individuals. This course is designed to meet the requirements for the professional accounting program of study. For students admitted prior to Fall 2020, this course can be used as an elective course in BBA Accounting, BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. For students admitted from Fall 2020 onward, this is a required course in the Bachelor of Business Administration (BBA) Accounting program and can be used as an elective in the BBA Finance program.

Bach Business Admin Accounting Program Coordinator(s): Francis Fasanu
This course further develops decision making skills to interpret Canadian federal income tax legislation relating to individuals. This course is designed to meet the requirements for the professional accounting program of study. For students admitted prior to Fall 2020, this course can be used as a required program course in Bachelor of Business Administration (BBA) Accounting or as an elective course in BBA Accounting, BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. For students admitted from Fall 2020 onwards, this is a required course in the Bachelor of Business Administration (BBA) Accounting program and can be used as an elective in the BBA Finance program.

Bach Business Admin Finance Program Coordinator(s): Mark Weaver
This course further develops decision making skills to interpret Canadian federal income tax legislation relating to individuals. This course is designed to meet the requirements for the professional accounting program of study. For students admitted prior to Fall 2020, this course can be used as an elective course in BBA Accounting, BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. For students admitted from Fall 2020 onward, this is a required course in the Bachelor of Business Administration (BBA) Accounting program and can be used as an elective in the BBA Finance program.

Bach Human Resources Program Coordinator(s): Sean O'Flynn
This course further develops decision making skills to interpret Canadian federal income tax legislation relating to individuals. This course is designed to meet the requirements for the professional accounting program of study. For students admitted prior to Fall 2020, this course can be used as an elective course in BBA Accounting, BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. For students admitted from Fall 2020 onward, this is a required course in the Bachelor of Business Administration (BBA) Accounting program and can be used as an elective in the BBA Finance program

BachBus Admin Spply Chain Mgmt Program Coordinator(s): Maryam Hafezi
This course further develops decision making skills to interpret Canadian federal income tax legislation relating to individuals. This course is designed to meet the requirements for the professional accounting program of study. For students admitted prior to Fall 2020, this course can be used as an elective course in BBA Accounting, BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. For students admitted from Fall 2020 onward, this is a required course in the Bachelor of Business Administration (BBA) Accounting program and can be used as an elective in the BBA Finance program.


Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course, students will have demonstrated the ability to analyze the tax implications of various situations, using the Income Tax Act and other Canadian reference materials.
 
Learning Outcomes:

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

  1. Determine the residency tax status of an individual and the resulting potential liability for federal income tax.
  2. Distinguish between business income, property income and capital gains.
  3. Specify the tax treatment of income and expenses from various sources.
  4. Prepare a capital cost allowance and capital property schedule according to the capital cost allowance regulations.
  5. Interpret compliance regulations in order to minimize a taxpayer's exposure to interest and penalties.
  6. Specify the tax treatment of the disposition of various types of capital property.
  7. Calculate net income for tax purposes (Division B income).
  8. Compute taxable income utilizing deductions from net income for tax purposes.
  9. Optimize the use of personal tax credits when determining federal tax payable.
  10. Assess the tax implications of various types of income in order to maximize an individual's goals.
  11. Formulate recommendations using sound research from the Income Tax Act and Bulletins, Circulars and Rulings from Canada Revenue Agency.
  12. Analyze GST/HST obligations and calculate net tax for an individual.
  13. Analyze financial and tax information using a variety of software tools.
  14. Demonstrate professional behaviours including: a. work effectively in a team environment. b. meet due dates. c. prepare professional quality assignments. d. use reference materials responsibly

Evaluation Plan
Students demonstrate their learning in the following ways:

 Evaluation Plan: IN-CLASS & ONLINE INSTRUCTION
 Assignments (2 x 5%)10.0%
 Quizzes (10 x 3%)30.0%
 Midterm Exam25.0%
 Final Exam Comprehensive35.0%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
In addition to achieving a minimum 50% overall grade, a student must have a combined average of at least 50% on the non-group components of the evaluation plan in order to receive credit for this course. Late submissions are not permitted. Modifications for exceptional circumstances (to be determined at the discretion of the instructor) may allow for changes to the implementation of this procedure. Note: work/personal conflicts and/or commitments & computer related problems are not valid reasons for missed work.



Evaluation Plan: IN-CLASS
 Assignments (2 x 5%)10.0%
 Quizzes (10 x 3%)30.0%
 Midterm Exam25.0%
 Final Exam Comprehensive35.0%
Total100.0%

Evaluation Notes and Academic Missed Work Procedure:
In addition to achieving a minimum 50% overall grade, a student must have a combined average of at least 50% on the non-group components of the evaluation plan in order to receive credit for this course. Late submissions are not permitted. Modifications for exceptional circumstances (to be determined at the discretion of the instructor) may allow for changes to the implementation of this procedure. Note: work/personal conflicts and/or commitments & computer related problems are not valid reasons for missed work.

Provincial Context
The course meets the following Ministry of Colleges and Universities requirements:

 

Prior Learning Assessment and Recognition
PLAR Contact (if course is PLAR-eligible) - Office of the Registrar

  • Not Eligible for PLAR
 
 
Section III: Topical Outline
Some details of this outline may change as a result of circumstances such as weather cancellations, College and student activities, and class timetabling.
Print Instruction Mode Professor Applicable Student Group(s)
In-Class Multiple Professors Bachelor of Business Administration
In-class & Online Instruction Multiple Professors Bachelor of Business Administration

Sheridan Policies

It is recommended that students read the following policies in relation to course outlines:

  • Academic Integrity
  • Copyright
  • Intellectual Property
  • Respectful Behaviour
  • Accessible Learning
All Sheridan policies can be viewed on the Sheridan policy website.

Appropriate use of generative Artificial Intelligence tools: In alignment with Sheridan's Academic Integrity Policy, students should consult with their professors and/or refer to evaluation instructions regarding the appropriate use, or prohibition, of generative Artificial Intelligence (AI) tools for coursework. Turnitin AI detection software may be used by faculty members to screen assignment submissions or exams for unauthorized use of artificial intelligence.

Course Outline Changes: The information contained in this Course Outline including but not limited to faculty and program information and course description is subject to change without notice. Nothing in this Course Outline should be viewed as a representation, offer and/or warranty. Students are responsible for reading the Important Notice and Disclaimer which applies to Programs and Courses.
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