This course is being offered to provide a “refresher” overview of tax issues relating to personal taxpayers. It is best suited for participants who work with individual taxpayers who want to revisit and update their understanding of the personal tax legislation that may have been forgotten or require additional insight as to the application of the legislation.

Although the prospect of an extended course may sound taxing, this course provides great bang for your buck. This course on personal tax targets professionals who desire to update and refresh their knowledge in technical and tax-planning issues for individuals, trusts, and partnerships. Although the course briefly reviews taxation for trust and partnerships, most of its content focuses primarily on the taxation of individuals.

The course provides and explains detailed reference materials spanning a broad range of income tax topics that will serve as an invaluable reference in the future. In addition to the course leader’s presentation of material, you will work through case studies covering a wide range of personal tax issues, collaborate with peers, and share issues impacting their clients.

Please note that this course does not review the detailed preparation of a personal tax return.

Topics Include:

• How To Research A Tax Issue
• Determination of Residency
• Liability for Taxes In Canada
• Administrative Issues
• Employment Income
• Benefits and Related Deductions
• Calculations of The Various Sources of Investments Income
• Taxation of Capital Gains
• Capital Losses and The Impact of The Stop Loss Rules
• Allowable Business Investment Losses
• Attributions Rules
• Registered Retirement Pension Plans
• RRSPs
• Individual Pension Plans
• Deferred Plans Such As TFSA, RESP and RDSP
• Rental and Farm Income
• Treatment of Shareholder Loans
• Various Deductions from Net Income Such as The Capital Gains Exemption
• Calculation of Taxes Payable, Including Discussions on Tax Credits
• Taxation of Partnerships
• Death of A Taxpayer
• Taxation of Family Trusts

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:

• Identify Personal tax issues and learn how to research the issues.
• Calculate personal taxable income.
• Evaluate Individual Tax Planning opportunities.
• Describe the taxation of Trusts.
• Describe the taxation of partnership income.