Course

Income Tax II

Faculty
Commerce & Business Administration
Department
Accounting
Course code
ACCT 3470
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 corporations, trusts, and partnerships; international taxation for individuals and corporations; tax planning for individuals in relation to corporations; GST/HST and payroll tax. 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. Treatment of Losses, Lifetime Capital Gains Deduction, Alternative Minimum Tax
  2. Taxable Income and Tax Payable for Corporations
  3. Taxation of Corporate Investment Income
  4. Other Issues in Corporate Taxation: acquisition of control, investment tax credits, tax basis shareholder's equity, distribution of corporate surplus
  5. Procedures and Administration as they apply to corporations and trusts
  6. Corporate Taxation and Management Decisions
  7. Rollovers under section 85
  8. Partnerships
  9. Trusts and Estate Planning
  10. International Issues in Taxation
  11. Goods and Services Tax and Harmonized Sales Tax
  12. Payroll remittances as well as Records of Employment
  13. Use of Tax Return Software
Learning activities

Lectures, seminars and case analysis. All methods of instruction apply to in class, hybrid and/or online modes of learning.

Means of assessment

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

Assignments &/or Tests &/or Tax Return Software Assignment 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 for individuals, corporations, partnerships and trusts;
  2. Demonstrate knowledge of special topics pertaining to individual and corporate taxation;
  3. Understand the structure of the Income Tax Act;
  4. Demonstrate how to obtain tax information to solve issues with regard to personal and corporate taxation;
  5. Understand the law and procedures that relate to GST and HST;
  6. Obtain a basic understanding of international taxation;
  7. Demonstrate the use of tax return software for individual and corporate tax returns.
Textbook materials

Required:

Clarence Byrd and Ida Chen.  Canadian Tax Principles, Pearson Education Canada. Or other textbooks as approved by department.

OR other textbooks as approved by the Accounting department.

Resources provided by instructor

Corporate tax software as 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 3370) 

Requisites

Prerequisites

ACCT 3370 with a minimum grade of C

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.

(Current)

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 3470
Acsenda School of Management (ASM) ASM ACCT 3XX (3)
Athabasca University (AU) AU TAXX 401 (3)
BC Institute of Technology (BCIT) BCIT FMGT 4410 (5.5)
Camosun College (CAMO) CAMO ACCT 375 (3)
Capilano University (CAPU) DOUG ACCT 3370 (3) & DOUG ACCT 3470 (3) = CAPU BFIN 351 (3) & CAPU BFIN 3XX (3)
College of the Rockies (COTR) COTR ACCT 364 (3)
Kwantlen Polytechnic University (KPU) KPU ACCT 3335 (3)
Langara College (LANG) LANG FMGT 4225 (3)
North Island College (NIC) NIC BUS 323 (3)
Simon Fraser University (SFU) SFU BUS 2XX (3)
University Canada West (UCW) UCW ACCT 303 (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 314 (3)
University of the Fraser Valley (UFV) UFV BUS 346 (3)
University of Victoria (UVIC) UVIC COM 425 (1.5)
Vancouver Island University (VIU) VIU ACCT 317 (3)

Course Offerings

Winter 2025

CRN Days Instructor Status
Maximum seats
35
Currently enrolled
35
Remaining seats:
0
On waitlist
10
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 Days Instructor Status
Maximum seats
35
Currently enrolled
33
Remaining seats:
2
On waitlist
0
Building
Anvil Office Tower
Room
911
Times:
Start Time
11:30
-
End Time
14:20
CRN Days Instructor Status
Maximum seats
35
Currently enrolled
23
Remaining seats:
12
On waitlist
0
Building
New Westminster - North Bldg.
Room
N4360
Times:
Start Time
15:30
-
End Time
18:20