ECON 3205

Subject: ECONOMICS

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If you have previously registered in this online course and wish to register again, please contact us at 453-4646 to complete the registration process.

Course No. and Title:

ECON3205 The Taxation of Business Income: Principles and Practice

Credit Value:

Three (3) credit hours

Benefits of the course

  • Understand the benefits of using a corporation and learn considerations for the right time to create one.
  • Discuss different share ownership structures and how to achieve financial planning objectives.
  • Understand the pros and cons from using trusts.
Course Description:

ECON3205 examines the taxation of corporate income and the theory underlying the taxation system as expressed in the Income Tax Act (Canada).  Topics include calculation of income for tax purposes, application of tax rates, the theory of integration, tax planning, and the social policies underlying the taxation system

On completion of this course students should be able to explain basic tax concepts related to preparing corporate tax returns, deciding how to structure an investment in a corporation, reorganizing a corporate group to optimize tax planning and should be able to prepare a calculation of corporate taxes payable.  Students will also be able to identify planning opportunities to optimize taxes payable when triggers are presented.

Prerequisite: This builds upon course material covered in Econ 3204 and therefore this course is recommended as a prerequisite, although not required.
Course Author:

Candace Sears
Department of Economics
UNB, Fredericton
candace.sears@unb.ca

Course Features:

The course materials includes detailed slides for note taking, followed by video lectures (available for viewing any time on youtube).  Optional practice quizzes for each module are available to complete on Desire2Learn.

Course Format:

The topics covered in this course are outlined below:

Topic 1 – Introduction, Overview of tax system, and administration


Topic 2 – Definition of Control, Canadian Controlled Private Corporations, and the Small Business Deduction


Topic 3 – Determining Related and Associated Entities


Topic 4 – Concept of Integration and Taxation of Corporate Investment Income


Topic 5 – Other Issues in Corporate Taxation


Topic 6 – Corporate Taxation and Management Decisions


Topic 7 – Rollovers under Section 85


Topic 8 – Other Rollovers and Sale of an Incorporated Business


Topic 9 – Trusts and Estate Planning


Topic 10 – HST (Harmonized Sales Tax)

Course Texts:

None

Assignments & Examinations:
Quiz 1 – Topics 1 to 4 10%
Quiz 2 – Topics 5 to 7 10%
Quiz 3 – Topics 8 to 10 10%
Final Exam – Comprehensive paper exam 70%

Evaluation methods include multiple choice, short answer, and case study questions that will require students to apply theory and also prepare calculations. 

Quizzes will be available for completion on D2L and are open book.  The final exam must be written under the supervision of an invigilator and is a comprehensive review of the course material.

All mid-term exams and final exams for online courses will be invigilated at an approved time and location. Please refer to the Online Exam Request Form to book.

Time Limit: 6 months from registration date. All course exams and/or assignments must be completed by the designated end date of your course.
Fees:

Online courses are subject to an additional $100 non-refundable online fee per course. Fees are subject to change by the Board of Governors.
More information on fees for this course.

Methods of Payment:

Once you complete the Apply Now form below, please send payment. Methods of payment accepted:
Cash (Do not send in the mail. Please deliver to the College of Extended Learning, 2nd Level, Wu Centre, UNB Fredericton Campus)
Cheque or money order (Mail to UNB College of Extended Learning, PO Box 4400, Fredericton, New Brunswick, E3B 5A3)
MasterCard / VISA / American Express (Please call the College of Extended Learning at 1-866-599-4646  or 506 453-4646 with your credit card number, expiry date, and the name as it appears on the card. Please do not send credit card information via email).

Apply Now
If you have previously registered in this online course and wish to register again, please contact us at 453-4646 to complete the registration process.