Canadian Personal Tax
Sheridan College Logo
  I: Administrative Information   II: Course Details   III: Topical Outline(s)  Printable Version
Section I: Administrative Information
  Total hours: 42.0
Credit Value: 3.0
Credit Value Notes: N/A
Effective: Spring/Summer 2009
Prerequisites: (ACCG50102) AND (APPL50082)
Corequisites: N/A
Pre/Co/Equiv Notes: N/A

Program(s): Accounting in Canada
Program Coordinator(s): Sally Mitzel
Course Leader or Contact: Lorraine Cipparrone
Status: Approved (APPR)

Section I Notes: N/A

Section II: Course Details

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

Accounting in Canada Program Coordinator: Sally Mitzel
This course is a core component of the Accounting in Canada for Internationally Trained Accountants Ontario Graduate Certificate program.

Course Critical Performance and Learning Outcomes

 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 
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 
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 

Evaluation Plan
Students demonstrate their learning in the following ways:

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

Total           100%
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.
Effective term: Spring/Summer 2009
Professor: Tba
Buckwold and Kitunen, Canadian Income Taxation, Planning & Decision 
Making, 2008/09 Edition, Mcgraw-Hill Ryerson

Applicable student group(s): Accounting in Canada for Internationally Trained Accountants
Course Details:
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 
3b)   Mid-Term Test 30%                                 Instructor    

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

Sheridan Policies

All Sheridan policies can be viewed on the Sheridan policy website.

Academic Integrity: The principle of academic integrity requires that all work submitted for evaluation and course credit be the original, unassisted work of the student. Cheating or plagiarism including borrowing, copying, purchasing or collaborating on work, except for group projects arranged and approved by the professor, or otherwise submitting work that is not the student's own, violates this principle and will not be tolerated. Students who have any questions regarding whether or not specific circumstances involve a breach of academic integrity are advised to review the Academic Integrity Policy and procedure and/or discuss them with the professor.

Copyright: A majority of the course lectures and materials provided in class and posted in SLATE are protected by copyright. Use of these materials must comply with the Acceptable Use Policy, Use of Copyright Protected Work Policy and Student Code of Conduct. Students may use, copy and share these materials for learning and/or research purposes provided that the use complies with fair dealing or an exception in the Copyright Act. Permission from the rights holder would be necessary otherwise. Please note that it is prohibited to reproduce and/or post a work that is not your own on third-party commercial websites including but not limited to Course Hero or OneNote. It is also prohibited to reproduce and/or post a work that is not your own or your own work with the intent to assist others in cheating on third-party commercial websites including but not limited to Course Hero or OneNote.

Intellectual Property: Sheridan's Intellectual Property Policy generally applies such that students own their own work. Please be advised that students working with external research and/or industry collaborators may be asked to sign agreements that waive or modify their IP rights. Please refer to Sheridan's IP Policy and Procedure.

Respectful Behaviour: Sheridan is committed to provide a learning environment that supports academic achievement by respecting the dignity, self-esteem and fair treatment of every person engaged in the learning process. Behaviour which is inconsistent with this principle will not be tolerated. Details of Sheridan's policy on Harassment and Discrimination, Academic Integrity and other academic policies are available on the Sheridan policy website.

Accessible Learning: Accessible Learning coordinates academic accommodations for students with disabilities. For more information or to register, please see the Accessible Learning website (Statement added September 2016)

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. Any changes to course curriculum and/or assessment shall adhere to approved Sheridan protocol. 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.

[ Printable Version ]

Copyright © Sheridan College. All rights reserved.