T1 - Filing Personal Tax Return
T1 - Filing Personal Tax Return
Full Curriculum
Full Curriculum
Standard Plan
Standard Plan
Introduction & Tax History
Introduction & Tax History
Origins of income tax in Canada. Federal vs Provincial powers. Types of taxation. Progressive tax rates.
Origins of income tax in Canada. Federal vs Provincial powers. Types of taxation. Progressive tax rates.
Payroll, CPP & EI Basics
Payroll, CPP & EI Basics
How payroll withholdings work. CPP & EI contributions. Related T4 boxes.
How payroll withholdings work. CPP & EI contributions. Related T4 boxes.
T1 General Structure
T1 General Structure
Getting familiar with the various sections of T1, such as ID, income, deductions, credits. etc.
Getting familiar with the various sections of T1, such as ID, income, deductions, credits. etc.
Employment Income
Employment Income
T4/RL-1. Taxable benefits. Zero income. T4E. Social Assistance.
T4/RL-1. Taxable benefits. Zero income. T4E. Social Assistance.
Donation and Medical
Donation and Medical
Medical expenses. Donations and gifts.
Medical expenses. Donations and gifts.
Children, Students & Young Adults
Children, Students & Young Adults
Childcare expenses. Support payments. T2202. Student loan interest. Adult tuition. Canada training credit.
Childcare expenses. Support payments. T2202. Student loan interest. Adult tuition. Canada training credit.
Refundable Credits
Refundable Credits
GST/HST credits. Climate action incentive. CWB. Provincial credits. T2203.
GST/HST credits. Climate action incentive. CWB. Provincial credits. T2203.
Pensions & Retirement
Pensions & Retirement
CPP, OAS, GIS. Pension income splitting. OAS recovery tax. RIF withdrawals.
CPP, OAS, GIS. Pension income splitting. OAS recovery tax. RIF withdrawals.
Retirement and Home Deductions
Retirement and Home Deductions
RRSP vs TFSA. Contributions, HBP/LLP repayments. Deduction optimization.
RRSP vs TFSA. Contributions, HBP/LLP repayments. Deduction optimization.
Other Deductions
Other Deductions
RDSP and disability amount. Volunteer & occupation specific credits. Other credits. Development expenses.
RDSP and disability amount. Volunteer & occupation specific credits. Other credits. Development expenses.
Complex Plan
Complex Plan
Everything in Standard plan plus….
Everything in Standard plan plus….
Employment Expenses
Employment Expenses
Employment expenses: T2200/T777. TL2 for transportation. GST/HST rebate.
Employment expenses: T2200/T777. TL2 for transportation. GST/HST rebate.
Moving & Northern Deductions
Moving & Northern Deductions
Moving expenses. Northern residents deduction.
Moving expenses. Northern residents deduction.
Foreign Income & Property
Foreign Income & Property
World income rules. T1135 foreign asset reporting. Tax treaties. Foreign tax credit.
World income rules. T1135 foreign asset reporting. Tax treaties. Foreign tax credit.
Newcomers, Emigrants & Non-Residents
Newcomers, Emigrants & Non-Residents
Residence - in depth. Immigrant/emigrant form. Allocation of world income. Departure tax.
Residence - in depth. Immigrant/emigrant form. Allocation of world income. Departure tax.
Capital Gains, Asset Sales & Principal Residence
Capital Gains, Asset Sales & Principal Residence
Schedule 3. Gain/Loss, Recapture/Investment income. Sale of principal residence. Sale of other property.
Schedule 3. Gain/Loss, Recapture/Investment income. Sale of principal residence. Sale of other property.
Investment income
Investment income
T5/T3 Slips. Eligible vs non-eligible dividends. Tax on split income. Alternative minimum tax.
T5/T3 Slips. Eligible vs non-eligible dividends. Tax on split income. Alternative minimum tax.
Intro to Bookkeeping for Tax Preparers
Intro to Bookkeeping for Tax Preparers
Types of entries. Dr & Cr. Profit and Loss statement. Cash vs Accrual accounting. CCA. Recordkeeping requirements.
Types of entries. Dr & Cr. Profit and Loss statement. Cash vs Accrual accounting. CCA. Recordkeeping requirements.
Sales Tax
Sales Tax
GST/HST. PST - BC. PST - SK. PST - MB. QST.
GST/HST. PST - BC. PST - SK. PST - MB. QST.
Self Employment
Self Employment
Business income and deductible expenses. Depreciation and CCA. Motor vehicle expenses. Final return.
Business income and deductible expenses. Depreciation and CCA. Motor vehicle expenses. Final return.
Rental Income
Rental Income
T776. Current vs capital expenses. Multi unit allocation. CCA on rental property.
T776. Current vs capital expenses. Multi unit allocation. CCA on rental property.
Pro Plan
Pro Plan
Everything in Standard and Advanced plan plus….
Everything in Standard and Advanced plan plus….
Registrations
Registrations
How to properly register a business, GST/HST numbers, and set up tax status to meet CRA requirements.
How to properly register a business, GST/HST numbers, and set up tax status to meet CRA requirements.
Advanced Filing software
Advanced Filing software
Working with professional tax filing software and automating tax processes.
Working with professional tax filing software and automating tax processes.
Client management
Client management
Effective methods for managing client data, communication, and workflow organization.
Effective methods for managing client data, communication, and workflow organization.
Client Engagement
Client Engagement
How to properly draft service agreements, structure tasks, and maintain transparency with clients.
How to properly draft service agreements, structure tasks, and maintain transparency with clients.
Engagement with CRA
Engagement with CRA
Skills for interacting with CRA: responding to inquiries, resolving tax issues, and guiding through audits.
Skills for interacting with CRA: responding to inquiries, resolving tax issues, and guiding through audits.