Chapter 4: Income from Employment
Income from employment is one the largest single source of Canadian income tax revenue.
Scope and Structure of Employment Income
- Employed: agree to provide their services at full direction and control of the
Chapter 3: Liability for Tax, Income Determination and Administration of the Income Tax
This chapter deals with how the Canadian income tax system focuses around two main points.
Firstly, what parties are subject to tax. And how to determine the in
Chapter 1: Taxation Its Role in Decision Making
- Taxs have significant influence on many areas of financial planning. Ranging from;
wage, salary settlements, divestments etc.
A. Taxation and the Financial Decision Process
- The most signicant tax that im
Chapter 5: Income from Business
Business Income Defined
- Business income can be earned by all taxable entities in Canada; individual, corporation,
and trusts. The entity must be undertaken in what constitutes a business
o To be classified as a business s
Chapter 6: The Acquisition, Use, and Disposal of
Most capital in businesses is invested long term assets such as machinery, equipment
building etc. Because theses assets add value to the income earning process it makes sense
Chapter 7: Income From Property
. We often have excess cash flow available which can be used for investment we invest this cash flow
into things such as mortgages, bonds, life insurance and the return we get on these is income in the form of
Chapter Two: Fundamentals of Tax Planning
This chapter entails what is tax planning and how to do it. Basic types of tax planning and skills
need and the limitations in tax planning
A. What is Tax Planning?
- Is the process of legitimate arranging financi
Chapter 12: Organisational, Capital Structures, and Income Distributions of
This discusses how corporations are formed. Here the implications of capitalizing a corporation
with shareholder debt as opposed to equity.
Chapter 11: Corporations: An Introduction
Must know that corporation is separate from its owners. There is a relationship between
the two though.
Relationship Between the Corporation and Its Shareholders
- When a company is incorporated an artificial pe
Chapter 8: Gains and Losses on Disposition of Capital
- Capital gains/losses are realised on the disposal of capital property.
Capital Gain and Loss Defined
- To be capital must provide the owner long term or enduring benefit when the intended