Course

Income Tax 1

Faculty
Commerce & Business Administration
Department
Accounting
Course Code
ACCT 3370
Credits
3.00
Semester Length
15 Weeks
Max Class Size
35
Method(s) Of Instruction
Lecture
Seminar
Course Designation
None
Industry Designation
None
Typically Offered
Fall
Summer
Winter

Overview

Course Description
This course covers the fundamental principles and concepts of Canadian federal income tax legislation as it applies to individuals. The course emphasizes the understanding of the conceptual structure of the Income Tax Act and equips students with skills in the application of its rules to practical cases including the use of tax return software.
Course Content
  1. The Canadian Tax System
  2. Income or Loss from an Office or Employment
  3. Taxable Income and Tax Payable for Individuals
  4. Capital Cost Allowances and Cumulative Eligible Capital
  5. Income or Loss from a Business
  6. Income from Property
  7. Capital Gains and Losses
  8. Other Income, Other Deductions, and Income Attribution
  9. Retirement Savings and Other Special Income Arrangements
  10. Procedures and administration as they apply to individuals
  11. Use of Tax Return Software

 

Learning Activities

Class Lecture, demonstration and discussion. All methods of instruction apply to in class, hybrid and/or online modes of learning.

Means of Assessment

Assessment will be carried out in accordance with the Douglas College Evaluation Policy

Assignments &/or tests &/or Tax Return Software assignment(s) AND case analysis  30%
Midterm Examination  30%
Final Examination  40%
Total 100%

Students must write both the midterm examinations and the final examinations to pass the course.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

Learning Outcomes

At the end of the course, the successful student should be able to:

1. Demonstrate the use of tax law and procedures to solve various tax issues;

2. Demonstrate knowledge of special topics pertaining to individual taxation;

3. Understand the structure of the Income Tax Act;

4. Demonstrate how to obtain tax information to solve issues with regard to personal taxation;

5. Demonstrate the use of tax return software for individual tax returns.

Textbook Materials

Clarence Byrd and Ida Chen.  Canadian Tax Principles, latest edition, Pearson Education Canada (Also used in ACCT 3470)

OR other textbooks as approved by the Accounting department.

Personal income tax software approved by the department & CRA.

Only Faculty of Commerce and Business approved calculators may be used in examinations.

 

Optional:

Canadian Income Tax Act, latest edition.   (Also used in ACCT 3470)

Requisites

Prerequisites

ACCT 1210 with a minimum grade of C

OR

ACCT 1235 with a minimum grade of C

OR

ACCT 3008 with a minimum grade of C

 

OR Currently active in one of the following:
PBD Accounting
PBD Accounting and Finance
PBD Finance
PDD Accounting
PDD Financial Planning

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

Course Transfers

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer Details for ACCT 3370
Athabasca University (AU) AU TAXX 301 (3)
BC Institute of Technology (BCIT) BCIT FMGT 3410 (4)
Camosun College (CAMO) CAMO ACCT 240 (3)
Capilano University (CAPU) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = CAPU BFIN 351 (3) & CAPU BFIN 3XX (3)
Kwantlen Polytechnic University (KPU) KPU ACCT 2235 (3)
Langara College (LANG) LANG FMGT 2XXX (3)
North Island College (NIC) NIC BUS 223 (3)
Simon Fraser University (SFU) No credit
Thompson Rivers University (TRU) TRU ACCT 3220 (3)
University Canada West (UCW) UCW ACCT 3XX (3)
University of British Columbia - Okanagan (UBCO) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCO MGMT_O 2nd (3)
University of British Columbia - Vancouver (UBCV) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = UBCV COMM_V 355 (3)
University of Northern BC (UNBC) UNBC COMM 313 (3)
University of the Fraser Valley (UFV) UFV BUS 345 (3)
University of Victoria (UVIC) UVIC COM 4XX (1.5)
Vancouver Community College (VCC) VCC ACCT 2002 (3)
Vancouver Island University (VIU) VIU ACCT 217 (3)

Course Offerings

Winter 2025

CRN
14171
section details
CRN Days Instructor Status More details
Maximum Seats
35
Currently Enrolled
22
Remaining Seats:
13
On Waitlist
0
Building
Online
Room
ONLINE
Times:
Start Time
18:30
-
End Time
21:20
Section Notes

This course will include synchronous online activities. Students should plan to be available online at scheduled course times.

CRN
14596
section details
CRN Days Instructor Status More details
Maximum Seats
35
Currently Enrolled
34
Remaining Seats:
1
On Waitlist
4
Building
New Westminster - North Bldg.
Room
N4213
Times:
Start Time
12:30
-
End Time
15:20
CRN
15058
section details
CRN Days Instructor Status More details
Maximum Seats
35
Currently Enrolled
8
Remaining Seats:
27
On Waitlist
0
Building
New Westminster - North Bldg.
Room
N4308
Times:
Start Time
12:30
-
End Time
15:20
CRN
15139
section details
CRN Days Instructor Status More details
Maximum Seats
35
Currently Enrolled
5
Remaining Seats:
30
On Waitlist
0
Building
Anvil Office Tower
Room
722
Times:
Start Time
15:30
-
End Time
18:20