Learning Outcomes

In this free course, you will learn how to:

• Discuss the evolution of the taxation system and the policies that make up the taxation system of Canada
• Describe the key principles and skills that are necessary to plan taxation efficiently
• Identify the essential methods used for income determination and the administration of the income tax system
• Examine the different sources of income that arise from employment along with the formula that you can use to calculate that income
• Explain the use of ‘Generally Accepted Accounting Principles’ (GAAP) in determining the profit from a business entity and property income
• Define ‘capital property’ along with the key legislation that governs the buying and selling of it
• Describe what a ‘corporation’ is and how to calculate corporate profit and tax
• Discuss the business dynamics of partnerships and how to calculate their profit and tax
• Identify the key differences between a limited and standard partnership along with their relevant tax implications
• Examine the features and classification of trusts along with their tax implications
• Analyse the basics of GST/HST and the methods on how to calculate value-added tax on goods and services
• Explain the process of domestic as well as international expansion for an entity operating in Canada