Taxation (TAXX) 301
Taxation I (Revision 31)
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Delivery Mode: Individualized study online
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.
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.
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
- 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
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 run on a Windows operating system only. See details under the Course Materials section below.
- 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|
The midterm and final examinations for this course must be taken online with an AU-approved exam invigilator at an approved invigilation centre. It is your responsibility to ensure your chosen invigilation centre can accommodate online exams. For a list of invigilators who can accommodate online exams, visit the Exam Invigilation Network.
Registration in this course includes a print textbook and study guide
Byrd, C., & Chen, I. (2021). Byrd & Chen’s Canadian tax principles (2020–2021 ed., Vol. 1 & Vol. 2). Pearson Education.
Byrd, C., & Chen, I. (2021). Byrd & Chen’s Canadian tax principles: Study guide (2020–2021 ed.). Pearson Education.
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.
IMPORTANT NOTE: ProFile will run on a Windows operating system only. Mac computer users may be able to acquire third-party software that will enable you to run ProFile.
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 31, March 17, 2021.
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