What are the 10 concepts you need to know to do a basic business tax return? Discover what a business owner needs to know and what they are responsible for under the Income Tax Act and the Excise Tax Act (GST). Learn what accounts to set up in your accounting records to facilitate the preparation of a tax return so you can minimize the costs of using professional advisors and preparers. Upon completion of this course you will understand the importance of the four types of income for tax purposes, general rules affecting deductibility of expenses, as well as be able to gather information required for Reconciliation of Accounting to Taxable Income, Capital Gains, and Capital Cost Allowance (income tax depreciation).
This course offers a classroom or online learning option, both running simultaneously.