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Master Canadian Individual Income Tax (T1 Income Tax & Benefit Return)

COURSE MODULES

Module 1: Introduction to Canadian Tax System

  • Overview of the Canada Revenue Agency (CRA) and its role
  • Understanding the T1 Income Tax and Benefit Return
  • Federal and Provincial Tax Brackets

Module 2: Taxable Income and Income Tax Slips

  • Understanding different types of taxable income
  • Overview of key tax slips:
  • T4, T4A, T4A(OAS), T4A(P), T4E, T4RIF, T4RSP, T5
  • T5007, T5008, T5013, T5018, T3
  • Reporting rental income, self-employed income, and foreign income
  • Free Zone Persons and their Taxation

Module 3: Deductions, Credits, and Benefits

  • Ontario Trillium Benefit (ONBEN), Canada Child Benefit (CCB)
  • RRSP Contributions and Deductions
  • Employment expenses, medical expenses, charitable donations, home buyers plan
  • Key tax schedules: S2, S3, S5, S6, S7, S8, S9, S11, S13

Module 4: Tax Forms and Return Computation

  • Completing essential tax forms:
  • T2125 (Business/Professional Activities)
  • T776 (Real Estate Rentals)
  • T777 (Employment Expenses)
  • T778 (Child Care Expenses)
  • T1135 (Foreign Income Verification)
  • T1 Jacket Analysis and Comparative Summary

Module 5: Step-by-Step Guide to Completing the T1 Return

  • Filling out the ID Page and FAM Page
  • Entering income, deductions, and tax credits
  • Reviewing and filing the final return

Key Benefits of the Course

  • Practical skills for tax return preparation
  • One-year mentorship for continuous support
  • Access to a Learning Management System (LMS) Portal with recorded sessions and study materials
  • Self-paced learning for flexibility
  • Certification upon course completion

Mode: Pre-recorded sessions with downloadable resources

Duration: Self-paced

Certification: Provided upon completion

Canadian Taxation Course

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