LAWS 2029 ‑ Taxation I

CREDIT HOURS: 4

This course is an introduction to the law of income taxation in Canada. It is intended to make students aware of the prevalence of taxation issues in ordinary life and in simple commercial transactions. It is also, for those who so choose, the prerequisite for more advanced courses in tax law. The course explores the principles of income taxation and the different tax options available to legislators who design income tax law. Concerns about equity, efficiency, and simplicity in tax design are major themes. Upon completion of the course, students should be able to distinguish between income from employment, business, and capital gains and have a sense of the computational and timing issues related to each of those sources. The basis for discussion is decided cases, commentary from the text, and the applicable rules in the Income Tax Act. The acquisition of the ability to read complex legislation will be emphasized.

Prerequisite(s): None.
Co-requisite(s): None.
Assessment Method: Depending on the instructor: problem-oriented written examination, with the possibility of optional in-term written work counting for a certain percentage of the work; OR problem-oriented in-term assignments.
Restrictions: None.