Canadian Taxation

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

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