Course subject: Taxation (TAX)

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 users 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 financial accounting in tax planning and compliance decisions.

This course concentrates on issues related to the taxation of corporations. This course is taught by integrating a variety of tax issues into cases for discussion.

This course investigates the Canadian tax system in light of the objectives of that system. For any current tax rule, the idea is to identify the underlying policy problem the rule is intended to solve, consider alternative solutions, and then determine if the current tax rule can be improved. Students will apply this procedure in a major essay. In class, topics discussed will include: the process of formulating tax policy and the roles of Finance; CCRA; courts, lobby groups, etc.; the goals of taxation such as fairness and neutrality; tax evasion and the underground economy; flat taxes and single-rate taxes versus progressive-rate taxes; and implementing incentives through the tax system versus as direct government expenditures. This course is intended to make students think about the purpose of tax rules. Tax rules are just so many random bits of information unless you understand the purpose of the rules. Understanding the purpose helps you remember the rules and makes you better able to explain them to clients. Also, by identifying gaps and inconsistencies where the rules do not achieve their purpose, you may be able to identify tax planning opportunities and areas where the rules may change in the future.

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.

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 issued involved in the tax provision will overlay this course.

This course integrates the tax, legal, family and business issues involved in planning for the estate and retirement of the business owner, the professional and the executive. Cases are used to highlight the application of many of the techinques that can be used to accomplish the objectives of the individual involved.

There are two aspects to this course. First, this is the major research paper course, which requires students to design and conduct original research on a specific tax issue. Second, the classes address current and emerging tax policy and practice initiatives which practitioners need to recognize to properly advise their clients. They also cover tax and economic issues which might be addressed only tangentially in other courses. The object of the class is to combine administrative, policy and technical issues in a practical context. Practitioners are often invited to discuss specialized areas of tax practice and procedure.