ACCT 2235

Students will learn the fundamental principles and concepts of Canadian federal income tax, including a conceptual structure of the Income Tax Act, and the Goods and Services Tax ("GST"). Students will learn to apply the rules and regulations to practical cases through detailed exercises and taxpayer scenarios. They will learn to identify and fulfill a taxpayer’s compliance and reporting requirements, including the determination of the components of the taxpayer's Net Income for Tax Purposes, Taxable Income, and the calculation of income taxes payable for an individual. They will also learn to prepare a GST return for businesses.