This course in corporate tax is designed for those who desire to update and refresh their knowledge in both technical and review of concepts in tax planning, not specific strategies or commoditized “tax plans” for corporations. Although corporate taxation of both public and private corporations is reviewed, the primary focus is on the taxation of private companies.

As much as people tend to think otherwise, memory is not infallible. Fortunately, tax professionals have the opportunity to relearn foundational material in the context of new changes (and we know how often the government loves to change things). This course in corporate tax is designed for those who desire to update and refresh their knowledge in both technical and review of concepts in tax planning, not specific strategies or commoditized “tax plans” for corporations. Although the course reviews taxation for public and private corporations, the session primarily focuses on the taxation of private companies. You will receive detailed course materials covering a broad range of corporate tax topics, which serve as an invaluable future reference. In addition to receiving presentation material, you will work through case studies covering a wide range of corporate tax issues, collaborate with your peers, and share issues impacting their clients.

This course not only provides a review of issues relating to corporate taxpayers but also expands your knowledge about recent changes. Participants working with these taxpayers require an understanding of corporate tax legislation and its proper application.

Please note that this course does not cover the preparation of corporate tax returns.

Topics Include:

• The Income Tax Act (ITA) as it relates to corporations 
• Determination of residency 
• Calculation of corporate taxes 
• Common definitions under the ITA that impact a corporate taxpayer, including related parties, affiliated parties, and associated corporations 
• Various sources of income, including active business income, investment income, specified investment business income, and personal service business income 
• Uncommon income items and deductions 
• Commonly used corporate reorganization provisions: the use of the Section 85 rollover; Section 86 capital reorganization; Section 87 amalgamation; Section 88 wind-up 
• Section 84.1 and Section 55(2) anti-avoidance provisions 
• Corporate attribution 
• Loss utilization
• Owner/manager remuneration planning
• Estate planning
• Issues for buy-sell agreements as well as the purchase and sale of business
• Acquisition of control
• Debt forgiveness

NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.

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By the end of this course, participants should be able to:

• Evaluate the residency of a corporation and its liability for taxes in Canada.
• Explain the calculation of corporate taxes payable.
• Explain various corporate reorganization provisions.
• Assist clients with various tax planning issues including but not limited to, remuneration planning, estate planning, and purchase and sale of business.