Programs & Courses

T1 Lite - Introduction to Personal Tax Preparation

Tax Planning

By: Walter Harder

PROGRAM: DFA-Tax Services SpecialistTM

APPROACH

This course is designed for prospective tax preparers who have no experience with preparing tax returns for others.  The course starts with an introduction to income tax in Canada: who is taxed and what is subject to income tax.  By the end of the first chapter students will be able to prepare a simple tax return for a no-income credit filer.  Subsequent chapters will teach you how to prepare returns for singles, families, students; retirees and investors.  Along the way, you’ll learn about the most common deductions and credits available to Canadian taxpayers.

CONTENT DESCRIPTION AND KEY CONCEPTS
This introductory course provides the student with a solid foundation and understanding of personal taxation in Canada for low and middle income taxpayers including single employees, students, young families, retirees and investors.   The successful graduate will the skills to prepare basic tax returns professionally with a high degree of confidence. 

Students may use their own tax preparation software to complete the course. For those without tax preparation software, student versions of Intuit's ProFile Premier, Dr Tax's DT Max software and TaxCycle are provided with the course.  Case Studies preparing 2016 returns will be done using income tax preparation software while scenarios involving 2017 returns will be completed using the Income Tax Estimator from the Knowledge Bureau Toolkit.

CERTIFIED SKILLSETS

The student will be exposed to a broad range of personal income tax topics in common scenarios, each featuring short answer and true-to-life case studies which include the details behind reporting income and claiming deductions and tax credits using tax software. The student will be able to prepare basic personal tax returns.

METHODOLOGY

The student prepares case studies using professional tax preparation software.  For students who don't have their own software, student versions of TaxCycle T1, ProFile T1, and DTMax software are available for download.

MARKS ALLOCATION
Quizzes 25%
Case Studies 50%
Final Exam 25%
Passing Grade 60%
Honours Achievement 90%

 


Table of Contents

Chapter 1:
Introduction to Canadian Tax
Chapter 2:
Tax Preparation for Single Employees
Chapter 3:
Tax Preparation for Employees with Variations
Chapter 4:
Tax Preparation for Families - Married with Children
Chapter 5:
Tax Preparation for Families - Marital Change
Chapter 6:
Tax Preparation for Students
Chapter 7:
Tax Preparation for Retirees
Chapter 8:
Tax Preparation for Investors – Non-Registered Accounts
Chapter 9:
Tax Preparation for Investors - Capital Property
Chapter 10:
Basic Tax Planning