This course focuses on teaching concepts related to preparing a T2 corporate return for small businesses. The emphasis is on providing students with an understanding of the business issues and tax options underlying the taxation of corporate income. The goal is to prepare the return accurately, minimize tax, and identify planning opportunities in a timely manner.

Knowledge Core Competency:

Upon completing this course, students are expected to outline the step-by-step process for completing a corporation income tax return.

Objectives:

1. Explain the documents required before starting a corporation tax return.
2. Describe how to initiate a corporation tax return.
3. Explain the purpose of income tax Schedules and Forms.
4. Summarize the concepts of Provincial tax returns.
5. Summarize the concepts of Capital tax returns.
6. Describe how to compile a return for filing purposes.

Skill Core Competency:

Upon completing this course, students will be able to independently complete a corporation income tax return for review by an accountant.

Objectives:

1. Obtain all required information documents when completing a corporate income tax return.
2. Input administrative information into the tax return.
3. Input applicable information in all required Schedules.
4. Input applicable information in Forms.
5. Input applicable information in the provincial tax return.
6. Prepare a capital tax return.
7. Compile the corporate tax return for review by an accountant.