ADMN 253 Principles Of Income Tax I

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 COMM 240

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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

Outcomes

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

  1. discuss generic taxation alternatives, economic objectives of taxation, qualitative characteristics of tax system;
  2. determine remittance dates for source deductions, instalment payment, tax balances owing and calculate penalties on late remittances;
  3. outline the Income Tax Appeals process and how the tax system is administered;
  4. calculate:
  5. 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;
  6. taxable income for individuals;
  7. taxes payable for individuals; and
  8. 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.

Grading Table

Academic and Career

See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.

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