Taxation 1

This course enables students to complete a T1 General Tax Return. The income tax implications of employment compensation arrangements (e.g. stock options, bonuses, benefits, commission), earning dividends, receiving government benefits, paying for childcare or moving, and saving for retirement are extensively explored. With this knowledge students calculate Net Income, Taxable Income, and Federal Income Taxes Payable. Through comprehensive situational analysis students determine which income tax credits an individual is entitled to deduct from Taxes Payable.