The two-day refresher seminar in personal tax is designed for those who desire to update and refresh their knowledge in both technical and tax planning issues for individuals, trusts and partnerships. Although the taxation for trust and partnerships is reviewed, the primary focus is on the taxation of individuals. The detailed reference materials covering a broad range of income tax topics, will be an invaluable reference in the future. An overview of the research materials available for use in answering tax related issues will be provided. In addition to the presentation of the material by the seminar leader, participants will work through case studies covering a wide range of personal tax issues, collaborate with their peers and have an opportunity to share issues that have been impacting their clients.
The course is a “refresher” overview of tax issues relating to personal tax payers. It is best suited for participants who work with individual taxpayers who want to revisit and update their understanding of the personal tax legislation that may have forgotten or acquire additional insight as to the application of the legislation.
WHO WILL BENEFIT:
Individuals who wish to expand or refresh their knowledge in the area of personal tax.
Participants will develop a stronger understanding of:
- How to research a tax issue
- Determination of residency
- Liability for taxes in Canada
- Administrative issues
- Employment income
- Benefits and related deductions
- Calculations of the various sources of investments income
- Taxation of Capital gains
- Capital losses and the impact of the stop loss rules
- Allowable Business Investment Losses
- Attribution rules
- Registered retirement pension plans,
- Individual pension plans
- Deferred plans such as TFSA, RESP and RDSP
- Rental and farm income
- Treatment of shareholder loans
- Various deductions from net income such as the capital gains exemption
- Calculation of taxes payable, including discussions on tax credits
- Taxation of partnerships
- Death of a taxpayer
- Taxation of family trusts.
Personal Tax - Compliance and Planning in T1 Preparation, or equivalent working experience in preparing personal tax returns and planning for clients.
|| Estimated CPD Hours: Total - 14