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Licensing Info
Territorial Acknowledgement
Accessibility Statement
For Students: How to Use This Book
Acknowledgements
Introduction
1. How and why does tax legislation exist?
Sam Newton
2. Who is liable to pay tax in Canada and on what sources of income?
3. Describe the differences between a regressive, progressive and flat tax. Provide some examples of each in Canada.
Cynara Almendarez and Sukhman Bhathal
4. What are the differences and similarities between a sole-proprietorship, partnership, corporation, and trust?
Wahaj Awan
5. Explain the tax concept of “integration”
Eva Viernes
6. Describe the ITA Section 3 ordering rules formula. How does this tie into Net Income for Tax Purposes (also known as ‘Division B’ income)?
Amra Bayasgalan
7. How do you get from Net Income for Tax Purposes to Taxable Income to Tax Payable?
Gurveer Brar
8. What is the difference between tax evasion, tax avoidance, tax planning and tax deferral? Provide some examples.
Deepali
9. How is corporate residency determined in Canada? Why is it relevant?
Masood Abdullah
10. How do you determine if something creates business income, property income or capital gain (loss)? Why is this distinction important?
Sam Newton and Gurmehar S. Grewal
11. Why do we need to reconcile accounting/business income to taxable income? What are some common reconciling items?
Jatin Gupta
12. What are the relevant sections of the ITA that deal with business income? Where does business income go in the S3 ordering rules?
Amanda Luies
13. How are eligible, non-eligible and capital dividends taxed in the hands of an individual? Are there any other tax implications? Why do the various dividends have different tax treatments?
14. What are taxable capital gains and allowable capital losses?
Jasmine Marahar
15. What is the Principal Residence Exemption? How does it impact Taxable Income and what are the basics of the calculation?
Aelyssa Bhatti
16. What are the 'change in use' rules? What are the tax implications?
Mariah Cawkell
17. What are the rules on identical properties? Why were these rules created?
Shelvin Chand
18. What are the 'replacement property' rules? Why do they exist? What are the tax implications?
Taylor Chow and Jasmine Leblanc
19. What is a capital gains reserve? How is it calculated? Why does it exist?
Pooja Devi
20. What is a business investment loss? What is the impact on Taxable Income? Why does it exist?
Bhanvi Ghai
21. What are the superficial loss rules? What are the tax implications? Why do these rules exist?
Jason Gill
22. What is a non-arm’s length transaction and what are the tax implications?
Vianna Tran
23. What are the spousal rollover provisions and why do they exist?
Simran Gill
24. What are the attribution rules and why do they exist?
Dilpreet Grewal
25. What is the Tax on Split Income? What are the tax implications? Why does it exist?
Lovellen Cheema and Natasha Dutt
26. What are the available income splitting opportunities with family members?
Anita Kartawidjaja
27. What is the purpose of CCA? How is it calculated? Why are items typically ‘pooled’ into the same CCA class?
Daljinder Nijjar
28. What is a Terminal Loss? What is Recapture? How are they recorded in net income for tax purposes?
Gurtaj Pannu
29. What is the purpose of the half-year rule?
David Ren
30. What is the purpose of the short-fiscal period rule?
Gurvir Sahota
31. Can you have a capital loss on depreciable property? If not, why not?
Pooja Sehgal
32. What is the Accelerated Investment Incentive and how does it work?
Panveer Kaur
33. What are some common CCA classes and what is their tax treatment?
Sheila Lai and Denise Baeta Abrunhosa
34. How are goodwill and intangibles depreciated for tax purposes?
Lewis Lam
35. What are ‘inducements’ and what are the tax implications?
Diane Macutay
36. What are the 'available for use' rules and what are the tax implications?
37. What are the specific rules on the disposition of land and building? Why are these rules created?
Bushra Manghat
38. What are the similarities and differences between how tax payable is determined for individuals and corporations? (Overview)
39. What are the similarities and differences between the various types of corporations (private, CCPC, public). (6.2.1)
Jessica Thao
40. What are the similarities and differences between the basic stakeholder relationships (affiliated, associated, connected, non-arm’s length, related)? (6.2.1)
Anthony Au
41. What are some significant differences for the treatment of Division 'C' deductions for individuals and corporations?
Prabpreet Badyal
42. What is Active Business Income and Aggregate Investment Income?
43. How is tax payable calculated for a corporation and why is the source of the income (ABI, AII, Specified Investment Business Income etc.) important?
Amer Bassi
44. What is the General tax rate and the General rate reduction?
Jerred Flynn
45. How is a ‘permanent establishment’ determined and how does it impact the provincial abatement?
Aneesh Dhaumya
46. What is the Small Business Deduction and how is it determined? (ITA 125)
Puneet Bering
47. What are the associated company rules? How do they impact the small business deduction? Why do they exist?
Amaneet Dhudwal
48. What is a Small Business Corporation? Explain any tax advantages of being a Small Business Corporation.
Morgan Campbell
49. Part I corporate tax - the 'lesser of' calculations
50. What is the Additional Tax on Personal Services Business Income and How is it Determined? Why does this Additional Tax Exist?
Lovy Gill
51. What is the Additional Refundable Tax and how is it determined? Why does it exist?
Manu Grewal
52. What is the Refundable Part IV tax and how is it determined? Why does it exist?
Paul Jhajj
53. What is RDTOH? How is it determined? Why does it exist?
Natasha Plamondon
54. How do the various corporate tax rates tie into the concept of integration?
Chanpreet Kang
55. How are capital dividends treated for tax purposes? How does this tie into the concept of integration?
Gurleen Kaur
56. How are foreign tax credits treated when calculating the tax payable of a corporation? Why does this treatment exist?
Balkaran Nijjer and Prab Badyal
57. As an owner of a company, when is it beneficial to claim employment income (salary) rather than dividends (and vice versa)?
Navjot Lalli
58. What are the Shareholder Loan Rules and Why do They Exist?
Shelley Lavigne
59. What are the tax implications of some compensation alternatives (stock options, bonuses, fringe benefits)?
Liangjian Lin
60. What are the pros and cons of selling the assets of a business vs selling the shares of the corporation?
Rachel Magdanz
61. What are the tax implications of selling the assets of a business, winding up a corporation and distributing the profits to the shareholders?
Vick Manak
62. What is the Lifetime Capital Gains Deduction? How does it impact Taxable Income and what are the basics of the calculation?
Rumabel Mateo
63. What tax issues accompany the acquisition of control of a corporation?
Alicia Mitchell
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Intermediate Canadian Tax - 2nd Edition Copyright © 2025 by Sam Newton and Wahaj Awan is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted.
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