ADMN 257 Principles of Income Tax II

School of Business

ADMN 257 Principles of Income Tax II provides a study of the nature and structure of the Income Tax Act, as it applies to corporations, partnerships, deceased taxpayers, trusts and non-residents, with the focus on corporate taxation. A corporate tax return and relevant schedules are prepared to determine net income for tax purposes, taxable income and income taxes payable. The sale of an incorporated business, tax planning techniques and special topics are included.

Prerequisites: ADMN 253 or equivalent with a minimum of 60%

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Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.

Transfer Agreements

Course to Course transfer – YesBlock Transfer – Yesbctransferguide.ca
Course Details
Total number of weeks15
Total Credits
Total Hours60
Typical hours per week breakdown
Lecture4

Learning Outcomes

Upon successful completion of this course, the learner will be able to:

  1. Display a knowledge of filing due dates, tax payment due dates, penalties and interest that may be levied by CRA related to income tax and the steps a taxpayer must follow to appeal a tax assessment
  2. Explain: a. the tax consequences that arise on the death of a taxpayer b. attribution rules c. the tax consequences of gifts
  3. Demonstrate an understanding of the taxation of a trust and the taxation of the beneficiaries of a trust
  4. Explain the components of Canadian corporate taxation including corporate taxation on active and passive income
  5. Calculate taxable income and the tax consequences for non-residents affected by Canadian Income Tax Act
  6. Calculate the income and adjusted cost base of a partnership
  7. Prepare a corporate tax return, including: a. the calculation of net income for tax purposes, taxable income and income taxes payable b. some supporting schedules, including capital cost allowance
  8. Evaluate effective tax plans using a Canadian Corporation
  9. Calculate GST and HST and determine who is liable for GST and HST

Teaching and Learning Approach

This course takes a hands-on approach to learning a complex body of knowledge. There will be a combination of lectures, problem solving questions with an emphasis on tax planning for business. Student engagement is an important part of the learning process. Regular assignments using excel as a platform will be conducted along with tax software cases.

Learning Resources

Required:

Buckwold, B., Kitunen, J., Roman, M. (2024). Canadian Income Taxation. Planning and Decision Making (2024- 2025 Edition). Toronto: McGraw Hill.

Recommended:

· TI BA11 Plus Calculator

· McGraw Connect Licence - purchase required

· Profile tax software – free from Intuit Education (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. Ch.11 Corporations – An Introduction

2. 2. Ch. 11 Corporations – An Introduction - continued

3. 3. Ch. 12 Organization, Capital Structures, and Income Distributions of Corporations

4. 4. Ch. 13 The Canadian Controlled Private Corporation

5. 5. Ch. 14 Multiple Corporations and Their Reorganization

6. 6. Ch. 15 Partnerships

7. 7. Ch. 16 Limited Partnerships and Joint Ventures

8. 8. MID TERM WEEK

9. 9. Ch. 17 Trusts

10. 10. Ch. 18 Business Acquisitions and Divestitures – Assets versus Shares

11. 11. Ch. 19 Business Acquisitions and Divestitures – Tax- Deferred Sales

12. 12. Ch. 20 Domestic and International Business Expansion Data Analytics applied to Taxation

13. 13. Ch. 22 Introduction to GST/HST Data Analytics applied to Taxation

14. 14. Practice Final and wrap up

15. 15. FINAL EXAM

Assessment

Title Learning Outcomes Value
Weekly in class quizzes / assignments 1,2,3,4,5,6,7,8,9 10 x 5 = 35%
Cases - tax software 7 2 x 5 = 10%
CPA Data Analytics IT Case 8 5%
Mid-term exam 1, 2, 4 25%
Final Exam 3, 4, 5, 6, 8 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.