Canadian Corporate Tax & Personal Tax - Complete Guide

Name: Canadian Corporate Tax & Personal Tax - Complete Guide
Rating: 3.5 (22 reviews)

Learn about Canadian Taxation for individuals and businesses

Created byBig 4 CPA, CA

Last updated 9/2022

English

What you'll learn

Complete detailed guide on Canadian Income Tax
Canadian corporate and personal taxation
Business income, deductions and limitations
Employment income and tax credits
Other advance tax topics on sales, purchase or business and shareholder salary dividend planning

Course content

1 section • 8 lectures • 6h 19m total length

Introduction59:30
Employment income and deductions for tax purposes40:14
Corporation income, deductions, CCA and other restrictions and limitations1:17:54
Learn home office deduction rules under the Income Tax Act, including prorating expenses, then master capital cost allowance, UCC, recapture and terminal losses, plus personal service business and dividend treatment.
Capital gains and losses and Principal residence exemption47:51
Distinguish capital property from inventory by taxpayer intention, and compute gains using adjusted cost base, disposition costs, and the 50% inclusion rate, including principal residence exemption.
Tax Deferred plans - RRSP, TFSA, RIFF28:54
Explore tax deferred plans in Canada, including rrsp, tfsa, and rif, covering contribution limits, deduction rules, withdrawal treatment, and programs like the home buyers plan, lifelong learning plan, and resp.
Corporate tax liability and treatment of tax Losses and death/divorce tax filing40:25
Explore corporate tax liability, loss treatment, and death or divorce considerations in Canadian tax, including RRSP rollovers to spouses, asset dispositions, and loss carryovers.
Fundamentals of tax reorganizations30:54
Explore section 85 rollovers in Canadian corporate tax, including eligible property types, elections with the transferee, and implications for asset transfers, shares, and receivables.
Special rules for taxpayers, Partnership, Trust and other issues53:58
Understand the rules of association and affiliated taxpayers, and how they determine control among connected corporations. Learn how non-arm's length transactions, attribution, and partnerships affect tax outcomes in Canada.

Requirements

Basic knowledge of accounting is sufficient to enroll in this course

Description

In-depth review of Canadian Tax

This course is a complete detailed guide on Canadian Income Tax and covers all aspects of personal and corporate income taxation. In it we have talked about Partnerships, Trusts, Corporations and Individuals. We have highlighted the income tax act and tax liability.

What you will learn?

In-depth understanding about the Canadian Income Tax for individuals and corporations

Numerous detailed examples for better understanding related to complex topics

Tax tables, charts and formulas and several examples

Learn sources of income in detail and deductions to calculate Federal Tax

Test/Criteria for distinguishing between an employee and a contractor

Method to calculate employment income/ property income and business income

Learn how to calculate Capital Cost Allowance, Capital Gain and Losses, Deferred Income Plans RRSP, TFSA, RESP, Division C Deductions, Payable taxes, and much more

What happens when businesses are financially troubled.

Learn all the steps on sale of asset/ purchase of business

Understand the rules of association in detail

Learn about double taxation and ITA 69, ITA 73 and Income attribution

Scientific Research and Experimental Development

Transfer Pricing

Acquisition of Control

Incorporation of a Proprietorship — Section 85 Rollover and other tax-free rollovers, amalgamations and wind-ups

Purchase and Sale of Assets Versus Shares

The general anti-avoidance rule (GAAR)

Shareholder Manager Remuneration/ Tax on Split Income

Stakeholder Relationships – Associated, Affiliated, and Connected Taxpayers

Non-Arm’s Length Transactions / Individuals Corporation and Examples.

Who this course is for:

Accountants, Bookkeepers, finance professionals
CPA students and new immigrants to Canada