ADMN 253 Principles of Income Tax I course studies the nature and structure of the Income Tax Act, as it applies to individuals. Topics include determination of net income for tax purposes, taxable income and income taxes payable. Income from employment, business, property, capital gains and miscellaneous sources are included. Basic tax planning topics are examined.
Prerequisites: COMM 241 or equivalent with a minimum of 60%
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 15 |
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| Total Credits | |
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| Total Hours | 60 |
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Typical hours per week breakdown| Lecture | 4 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- Discuss generic taxation alternatives, economic objectives of taxation, qualitative characteristics of tax system
- Determine remittance dates for source deductions, instalment payment, tax balances owing and calculate penalties on late remittances
- Outline the Income Tax Appeals process and how the tax system is administered
- Calculate:
- net income for tax purposes in conformance with Income Tax Act section 3, which includes income from employment, business, property, and miscellaneous sources; taxable capital gains and allowable capital losses; specific deductions permitted; and non-capital losses
- taxable income for individuals
- taxes payable for individuals
- Illustrate the concept of tax-deferred savings, including Registered Pension Plans, Registered Retirement Savings Plans, Registered Retirement Income Funds, Tax Free Savings Accounts and Deferred Profit Sharing Plans
Teaching and Learning Approach
This course uses a number of approaches, including video lectures, on-line video conferencing, computer tax
software cases, on-line assignments and small group discussions.Learning Resources
Required:
Buckwold, B., Kitunen, J., Roman, M. (2025). Canadian Income Taxation. Planning and Decision Making (2025-
2026 Edition). Toronto: McGraw Hill.
· TI BA11 Plus Calculator
· Profile tax software (will NOT work on Mac computer
· Windows based computer with webcam, speakers and microphone
· High speed internet access
Detailed Course Content, Topics, and Sequence Covered
1. 1. Taxation – Its Role in Decision Making
2. 2. Fundamentals of Tax Planning
3. 3. Liability for Tax, Income Determination, and Administration of the Income Tax System
4. 4. Income from Employment
5. 5. Income from Business
6. 6. The Acquisition, Use, and Disposal of Depreciable Property
7. 7. Income from Property
8. 8. Mid-Term Exam
9. 9. Gains and Losses on the Disposition of Capital Property – Capital Gains
10. 10. Other Income, Other Deductions, and Special Rules for Completing Net Income for Tax Purposes
11. 11. Individuals: Determination of Taxable Income and Taxes Payable
12. 12. Tax Software Case 3 Data Analytics as applied to taxation
13. 13. Data Analytics as applied to taxation
14. 14. Practice final and wrap up
15. 15. Final Exam
Assessment
| Title |
Learning Outcomes |
Value |
| In class quizzes and assignments |
1,2,3,4,5 = |
3.5% * 10 quizzes / assignments 35% |
| Cases - tax software |
4 5% * 3 cases = |
15% |
| Mid-term exam |
1,2,3,4 |
25% |
| Final exam |
1,2,3,4,5 |
25% |
| Total |
100% |
Grading Table
Standard Academic and Career Programs Grading Table
| Percentage |
Letter Grade |
GPA |
| 90-100 |
A+ |
4.33 |
| 85-89 |
A |
4.00 |
| 80-84 |
A- |
3.67 |
| 76-79 |
B+ |
3.33 |
| 72-75 |
B |
3.00 |
| 68-71 |
B- |
2.67 |
| 64-67 |
C+ |
2.33 |
| 60-63 |
C |
2.00 |
| 55-59 |
C- |
1.67 |
| 50-54 |
P |
1.00 |
| 0-49 |
F |
0.00 |
| |
DNW |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.