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FMGT 7410 - Taxation of Close Corporations

Financial Management Part-time Studies Course

School of Business

Course Details

This is an advanced course in corporate income tax, focusing on the tax planning needs of private corporations and their shareholders. In this course, the student will acquire the foundation tax knowledge and basic research skills needed to be able to do corporate tax- related work at a professional level. This is achieved through a combination of lectures, assigned readings, practice in the application of the law to practical problems, the use of income tax software for both compliance and research purposes, and training in tax research and tax writing. Topics include the computation of corporate taxes, tax integration, owner compensation, corporate re-organizations, surplus distributions, partnerships, trusts, structuring business sales and acquisitions, international business expansion, as well as issues concerning tax compliance, planning and avoidance.

Prerequisite(s)

Completion of FMGT 3410 and FMGT 4410 with a minimum average grade of 65%

Credits

3.0

Cost

$760.76

Winter 2018

Below is one offering of this course for the Winter 2018 term.

CRN 46175

Tue Jan 09 - Tue Apr 10 13 Weeks

Class Meeting Times

Dates Days Times Locations
Jan 09 - Jan 16 Tue 18:00 - 21:30 BBY SE06
Jan 23 - Apr 10 Tue 18:00 - 21:30 BBY SE06 Rm. 105

Instructor

Tom Grozier

Course Outline

TBD – see Learning Outcomes in the interim

Cost

$760.76

Notes

  1. Departmental approval needed
  2. THIS IS A DEGREE LEVEL COURSE FOR THE BACHELOR OF ACCOUNTING. Please note the following registration guidelines: 1) Acceptance into the Bachelor in Accounting OR 2) Completion of FMGT 3410 and 4410 (or equivalent), with a minimum average grade of 65% and special approval from the Department; this can be obtained by emailing at rbrar@bcit.ca. NOTE: NO CLASS on Tuesday March 13th (BCIT Spring Break)

This course offering is in progress. Please check back next term or subscribe to receive email updates.

In Progress

Learning Outcomes

Upon successful completion, the student will be able to:

  • Identify tax issues faced by closely held corporations and their owners.
  • Use the Income Tax Act, and professional tax research tools, to determine the tax implications of the issues identified.
  • Communicate the issues, the tax implications, the alternatives and recommendations.
  • Use T2 software to file corporate tax returns.
  • Review, advise on, and provide support for objections, appeals, and reassessments.
  • Analyze and advise on tax-planning issues such as the purchase or sale of shares or assets, benefiting from the capital gains deduction on qualified small business corporation shares, succession planning, and reorganizations.
  • Evaluate and advise on tax implications of alternative business decisions such as dividend versus salary, sharing small business deductions, personal service business, and acquisition of control.
  • Design the use of partnerships and trusts in business and family tax planning.

Effective as of Fall 2016

Related Programs

FMGT 7410 is offered as a part of the following programs:

School of Business

  1. Accounting
    Full-time/Part-time   Bachelor of Accounting

Books & Supplies

The BCIT bookstore carries textbooks, general reference books, software, and stationery. Please visit bcit.ca/bookstore for more information.

Winter 2018

Books for Winter 2018 offerings of this course are available in the following BCIT online bookstores. Please choose the bookstore appropriate for the offering you are considering.

BCIT Burnaby Bookstore

If you are taking this course, but are not taking it through either Distance Education or Online Learning, nor at the BCIT Downtown Campus (DTC), please purchase books for this course at the BCIT Burnaby Bookstore.

Canadian Tax Principles, 2017-2018 Edition Plus Companion Website with Pearson eText -- Access Card Package
Author Clarence Byrd, Ida Chen
Publisher Pearson Canada
Copyright 2018
Binding Kit/Set/Package
ISBN 978-0-13483-364-4
Price $174.95
Required

Practitioner's Income Tax Act 2017, 52nd Edition
Author B.A., LL.B., LL.M. By: David M. Sherman
Publisher Carswell
Copyright 2017
Binding Paperback
ISBN 978-0-77987-822-2
Price $114.95
Required

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