This course builds on the knowledge base obtained in Taxation 1 to enable students to complete a T1 General Tax Return for individuals earning business, property, and capital income. With this enhanced knowledge students calculate income taxes payable and through situational analysis determine which income tax credits an individual is entitled to deduct from taxes payable. In addition, students obtain a foundational understanding of income earned through a corporation to complete a T2 Corporate Tax Return. With this knowledge students critique the tax planning opportunities of earning income through a corporate entity or as an individual.

Notes:

Directions on how to access the Profile software will be provided by the facilitator. Note, Profile does not work on MAC products. Students with a MAC will need to manually complete the PDF documents (also provided by the facilitator).