ACCG42001D
Advanced 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 2021
Prerequisites: ACCG32000D
Corequisites: N/A
Equivalents: N/A
Pre/Co/Equiv Notes: 75 credits including ACCG32000D

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: 20210907_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 advanced aspects of tax law which serves to strengthen their tax planning and problem-solving skills within the framework of professional practice. The key areas covered in this course include the calculation of taxable income and taxes payable for corporations (Public, Private, Canadian Controlled Private Corporations), shareholder benefits and tax planning, corporate distributions / wind-ups / sale of assets and shares, rollover on transfers to a corporation & related pitfalls, corporate reorganizations and other rollover provisions used in estate planning,taxation of partnerships and trusts. A combination of interactive lectures, classroom problem solving activities and case studies are employed to facilitate student learning.

Program Context

 
Bach Bus Admin Market Manage Program Coordinator(s): Carol Bureau
This is an elective course within the Bachelor of Business Administration (BBA) Accounting program, as well BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It provides a continuation of the detailed study of Canadian tax law and prepares the student for tax compliance and planning situations encountered in practice as a professional accountant. This course has been designed to meet the requirements for transfer to the professional accounting program of study.

Bach Business Admin Accounting Program Coordinator(s): Francis Fasanu
This is an elective course within the Bachelor of Business Administration (BBA) Accounting program, as well BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It provides a continuation of the detailed study of Canadian tax law and prepares the student for tax compliance and planning situations encountered in practice as a professional accountant. This course has been designed to meet the requirements for transfer to the professional accounting program of study.

Bach Business Admin Finance Program Coordinator(s): Mark Weaver
This is an elective course within the Bachelor of Business Administration (BBA) Accounting program, as well BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It provides a continuation of the detailed study of Canadian tax law and prepares the student for tax compliance and planning situations encountered in practice as a professional accountant. This course has been designed to meet the requirements for transfer to the professional accounting program of study.

Bach Human Resources Program Coordinator(s): Sean O'Flynn
This is an elective course within the Bachelor of Business Administration (BBA) Accounting program, as well BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It provides a continuation of the detailed study of Canadian tax law and prepares the student for tax compliance and planning situations encountered in practice as a professional accountant. This course has been designed to meet the requirements for transfer to the professional accounting program of study.

BachBus Admin Spply Chain Mgmt Program Coordinator(s): Maryam Hafezi
This is an elective course within the Bachelor of Business Administration (BBA) Accounting program, as well BBA Finance, BBA Human Resources, BBA Marketing and BBA Supply Chain Management. It provides a continuation of the detailed study of Canadian tax law and prepares the student for tax compliance and planning situations encountered in practice as a professional accountant. This course has been designed to meet the requirements for transfer to the professional accounting program of study.


Course Critical Performance and Learning Outcomes

  Critical Performance:
By the end of this course, students will have demonstrated the ability to assess and deal capably with various tax compliance and planning situations related to corporations, individuals, partnerships and trusts.
 
Learning Outcomes:

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

  1. Compute taxable income and taxes payable for public, private and Canadian Controlled Private Corporations (CCPCs).
  2. Evaluate the advantages and disadvantages of incorporating both business and investment income in a private corporation.
  3. Evaluate alternative methods whereby a shareholder-manager is remunerated by a private corporation.
  4. Determine the tax consequences of specific transactions involving shareholder loans, shareholder appropriations and sale of Qualifying Small Business Corporation shares.
  5. Describe the various rights and obligations of taxpayers and the Canada Revenue Agency under the Income Tax Act.
  6. Compare the after-tax effects of selling assets versus shares on the disposition of an incorporated business.
  7. Identify the tax effects of various corporate distributions and the winding-up of a corporation.
  8. Illustrate the tax effective transfer of assets to a corporation under s85(1), giving appropriate consideration to various pitfalls.
  9. Outline various rollover provisions available under the Income Tax Act and under what circumstances they would apply or could be elected.
  10. Describe the nature of partnerships and trusts, various types of trusts and their uses in tax planning.
  11. Analyze financial and tax information using a variety of software tools.
  12. Demonstrate professional behaviors including: a. meet due dates b. produce professional quality assignments c. 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 (6 x 2.5%)15.0%
 Research Report (Group)15.0%
 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.



Evaluation Plan: IN-CLASS
 Assignments (2 x 5%)10.0%
 Quizzes (6 x 2.5%)15.0%
 Research Report (Group)15.0%
 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.

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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