Certificate Course

Tax Accounting on Death of a Taxpayer


DFA-Tax Services Specialist™


This course deals comprehensively with the taxation of individuals at death. The student will gain a thorough understanding of how income, as well as capital accumulations, are taxed when the taxpayer dies as well as strategies to minimize those taxes.

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Death is never timely yet it comes to at least one percent of the population each year. Advisors need to be able to help their clients minimize the income tax consequences before the event occurs. An advisor also requires technical expertise in filing the final return(s) of a deceased in order to ensure proper tax planning is arranged at the time of death and for the ongoing planning activities of the survivors.

What You'll Learn

You will start with learning what government cheques may be retained and which must be returned. You'll learn how each type of income is taxed, on what returns the income is reported, and strategies to defer taxes where possible. As well, you will come to understand how to claim all deductions and credits that are allowed on each return, as well as how to minimize probate fees on assets transferred to beneficiaries. True-to-life case studies involve preparation of tax returns for deceased taxpayers and their surviving spouses.

Through this course, you will understand death as a financial event and be able to discuss its ramifications with clients. You'll identify and discuss creative tax strategies that take advantage of the opportunities presented by death, both in terms of personal and business finances. You'll have the ability to prepare all possible T1 returns in the year of death and identify opportunities for probate avoidance, as applicable in high probate jurisdictions.

What’s Included

• Personal course selection consultation
• Virtual campus orientation
• Lesson and study plans
• Personal instructor email support
• Comprehensive Knowledge Journal
• EverGreen Online Research Library
• Knowledge Bureau calculators
• Testing and certification
• CE/CPD accreditation

Student Experience

I feel better equipped to deal with questions involving the death of a taxpayer as a result of doing the course. Notwithstanding the fact that I have been doing final returns for about ten years, the course gave me some new insights and perspectives. My experience has been exclusively "closed fact" situations, i.e., a taxpayer dies and his executor brings in his papers to do up a final return and if necessary an estate return. There are a few things that can be done to minimize taxes owing and the course points these out (for example, doing multiple returns might be an option in some cases) but the real value of the course is in setting out some strategies to deal with death before the event occurs.

—Martin H., ON

Course Content

Chapter 1 | Death and Taxes
Chapter 2 | Returns in the Year of Death
Chapter 3 | Reporting Income
Chapter 4 | Capital Assets
Chapter 5 | Registered Accounts
Chapter 6 | Claiming Deductions
Chapter 7 | Non-Refundable Credits
Chapter 8 | Refundable Credits
Chapter 9 | The Estate
Chapter 10 | Avoiding Probate Fees

Marking Guide

Case Studies
Final Exam
Passing Grade
Honours Achievement

All students who pass the course will receive a certificate. Students who receive a mark of 90% or better will receive a gold honours bar on their certificates.

CE | CPD Credits

Knowledge Bureau | 30 CPE credits

Most regulators and associations accept Knowledge Bureau certificate courses for continuing education credits.

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