ACC642 - Corporate Taxation

Subject Title
Corporate Taxation

Subject Description
Taxation II is the second part of two subjects in taxation for Accounting and Finance students. The aim of the course is to provide students with a good working knowledge of the current provisions of the Canadian Income Tax Act as it applies to corporations and individuals. Emphasis is placed on the concepts underlying these provisions rather than on the computations required to implement them, although such computations are reviewed in the context of the Federal T2 Tax Return.

Credit Status
One credit of the "ACF" professional requirements in the Accounting Certificate and Diploma programs. On completion of this subject and ACC540 tax course, those students attaining a minimum of a "B" average may qualify to write a challenge examination for the CGA TX1 exam.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Identify capital gains and losses and examine the basic application rules.

2. Identify and classify the different types of income of a corporation.

3. Determine the tax payable by corporations.

4. Compute the distribution of corporate surpluses.

5. Explain administrative procedures under the Income Tax Act and tax planning techniques.

6. Review income tax determination for individuals.

7. Complete the T2 Corporate Tax Return.

8. Use a computer tax programme to prepare T1's and T2's.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.