Taxation (TAXX) 301

Taxation I (Revision 28)

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Delivery Mode: Individualized study online

Credits: 3

Area of Study: Applied Studies
(Business and Administrative Studies)

Prerequisite: ACCT 253 or equivalent introductory financial accounting course.

Centre: Faculty of Business

TAXX 301 is not available for challenge.

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Overview

TAXX 301: Taxation I is a three-credit, senior-level course at Athabasca University.

The primary emphasis in this course is the determination of Net Income for Tax Purposes. The course gives detailed attention to the components that make up this figure, including employment income, business and property income, and capital gains. Detailed attention is given to both the Taxable Income of individuals and Tax Payable for individuals.

While limited attention will be given to provincial income tax procedures, this course is largely concerned with federal income tax legislation.

The prerequisite for this course is Accounting 253: Introductory Financial Accounting, or an equivalent introductory financial accounting course from another college or university.

Outline

The course consists of the following.

  • Lesson 1: Basic Income Taxation Concepts
  • Lesson 2: Procedures and Administration
  • Lesson 3: Employment Income
  • Lesson 4: Taxable Income and Tax Payable for Individuals
  • Lesson 5: Capital Cost Allowances and Cumulative Eligible Capital
  • Lesson 6: Income or Loss from a Business
  • Lesson 7: Income from Property
  • Lesson 8: Capital Gains and Capital Losses
  • Lesson 9: Other Income, Other Deductions, and Other Issues
  • Lesson 10: Retirement Savings
  • Lesson 11: Taxable Income and Tax Payable for Individuals Revisited

Evaluation

Your final grade in TAXX 301 will be based on two written assignments, one tax software application assignment (Assignment 5), a midterm examination, and a final examination. Assignment 5 requires you to download tax return software from the textbook companion website to complete and submit two tax returns. This software will only run on a Windows operating system. See details under Course Materials section below.

To receive credit for this course, you must achieve an overall course grade of at least “D” (50 percent). In addition, you must

  • achieve a grade of at least 50 percent on Assignment 5,
  • achieve a grade of at least 50 percent on the midterm examination, and
  • achieve a grade of at least 50 percent on the final examination.

Completion of Assignments 1 and 2 and Practice Assignments 3 and 4 is not required in order to receive credit for the course.

The following table summarizes the weights that will be applied to each assignment and examination in determining your final grade.

Assessment Activity Credit Weight
Assignment 1 5% of final grade
Assignment 2 5% of final grade
Assignment 5 10% of final grade
Midterm Examination 35% of final grade
Final Examination 45% of final grade
Total 100%

Note: Students planning to transfer this course to a Chartered Professional Accountant designation are advised that they will be required to achieve a grade higher than the minimum passing grade. See CPA Requirements for details.

The examinations for this course will be written in the traditional pen and paper format. To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Course Materials

Textbook

Registration in this course includes a print textbook and study guide that are shipped as a shrink-wrapped package along with the student access card for the companion website. If the shrink wrap is broken, the materials are not returnable.

Byrd, C., & Chen, I. (2018) . Canadian Tax Principles—2017/2018 Edition. Volume I, Volume II, and Study Guide. Toronto: Pearson Education. ISBN: 9780134833644

Other Materials

All other materials will be available to students online. Students are required to download ProFile tax return software from the textbook companion website to complete Assignment 5. ProFile will only run on a Windows operating system. Mac computer users may be able to run ProFile by using third-party software.

Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.

Opened in Revision 28, January 2, 2018.

View previous syllabus

Updated January 03 2018 by Student & Academic Services