The goal of financial accounting is to reflect the economic activities of the firm in its financial statements. This course introduces students to the accounting for income taxes with a particular focus on analyzing differences between accounting and tax treatments, computing tax provisions, and disclosing tax information in corporate financial statements. The course also provides exposure to the both internal and external uses of tax accounting disclosures. In doing so, the course builds a solid grounding in the preparation of accounting information, but also helps students gain an appreciation for the role of financial accounting in tax planning and compliance decisions.
This course covers two of the most fundamental skills of a tax practitioner: statutory interpretation and the understanding and application of case law. Students will learn the basic structure of the Income Tax Act and related legislation, gain familiarity with the various tools for interpreting and applying the legislation (e.g., defined terms, deeming rules, general rules of statutory interpretation etc.) and understand the various external sources for guidance and their relevance (e.g., CRA opinions, cases etc.). Students will also be given an opportunity to draft proposed legislation to see the statutory interpretation issue from the legilator's perspective. Students will also learn how to read cases, to determine what legal principles and precedents a case established, and to apply case law to particular fact situations. Approximately one-half of the course is devoted to each of statutory interpretation and case law.
This course brings students with a wide range of tax knowledge to a common point. It covers specific aspects of introductory taxation with particular emphasis on the determination of corporate income and tax. This course is taught by integrating a variety of tax issues into cases with a discussion of both the tax and non-tax issues. An emphasis is placed on developing and practicing professional practice research and writing skills on a variety of assignments.
This course brings students with a wide range of tax knowledge to a common point. It covers specific aspects of introductory taxation with particular emphasis on more advanced areas including corporate reorganizations, partnerships and trusts using a case-based approach. The course is taught by integrating a variety of tax issues into cases with a discussion of both the tax and non-tax issues. In addition to technical competencies, a strong emphasis is placed on developing and practicing research and interpretation proficiencies along with professional communication skills through a variety of assignments and class activities.
This course investigates the objectives of the Canadian tax system. It encourages students to consider the purpose of tax legislation to achieve a deeper understanding of the rules and develop an ability to explain them to clients in a practical setting. It will help students identify gaps and inconsistencies where the rules do not achieve their purpose and identify planning opportunities or recognize where future changes in legislation are likely.
Carolyn Hurst, David VanVoorst
The Business Structuring course is intended to provide students with an overview, from a tax and business perspective, of a variety of corporate structures that may be used to carry on business. The course examines how these structures differ from one another and how businesses may be reorganized with existing corporate groups and within the context of purchase and sale transactions. The course also deals with related debt and equity financing and capital restructuring issues. Focus is placed on the use of the numerous reorganization provisions contained in the Income Tax Act. This is in order to facilitate the completion of transactions designed to meet the stakeholders' objectives in a tax efficient manner while taking into account an analysis of the business and tax risks associated with the structure.
Barriers to cross border trade and investment continue to come down. At the same time, technology has enabled business organizations to access markets that were previously out of reach and to develop new business models that improve the profitability of their operations. The business operations for companies of all sizes are increasingly global. International tax plays a significant role in shaping the manner in which multi-national enterprises organize and finance their operations. The practice of international tax provides an exciting opportunity to actively participated in the fast changing world of global commerce alongside a multi-disciplinary team of other professionals and business leaders. The International Tax I Course is designed to provide an introduction to Canada's international tax rules and tax treaties.
Owner-managers usually have dynamic tax circumstances which demand that the tax advisor adapt their thinking quickly and effectively. Owner-managers also require their advisors to bring significant value to their businesses and often look for instant gratification. This course is designed with this in mind. Students will learn the tools required to bring value to their clients through practical application.
This course investigates tax and related accounting issues found in the tax provision on the financial statements to deepen the understanding of the impact of tax on accounting. It will also address the identification, measurement and reporting of tax risk. Cases are used to highlight the interaction between the Income Tax Act and the CICA Handbook. Corporate governance issues involved in the tax provision will overlay this course.
This course integrates tax, legal, family and business issues involved in planning for the estate and retirement of the business owner, the professional and the executive. Case studies are used to highlight the application of many of the techniques that can be used to accomplish the objectives of the individual involved. In addition to technical competencies, a strong emphasis is placed on developing and practicing research and interpretation proficiencies along with advanced professional communication and analytical skills, critical thinking, planning and self-directed learning strategies through a variety of assignments and class activities.
In today's business environment Canadian companies are rapidly expanding and competing in the global marketplace. Given the existing level and the continual expansion of cross-border trade and investment by Canadian companies, particularly in the age of electronic commerce, an understanding of international taxation is vital for every tax practitioner and business advisor. International Tax II builds on the fundamental principles taught in International Tax I. The course examines in more detail the foreign affiliate and foreign accrual property income rules and practices that apply to Canadian companies seeking to establish, expand, structure and finance their foreign operations in a tax efficient manner. The course challenges students to explore the implications and planning opportunities under the Canadian rules and to learn how these rules interact with foreign tax law. The course also examines how Canadian companies can make effective use of low-tax jurisdictions in international tax planning to own and to finance foreign operations. Finally, the course explores how domestic and international developments and rules, such as transfer pricing, might impact such planning currently and in the future.
In this course, students prepare a major research paper that requires them to design and conduct original research on a tax-related issue. The course focuses on expanding critical thinking abilities, research methods and design, writing skills and self-directed learning strategies.