ACC405 - Taxation Regulation and Reporting

Outline info
Last revision date 2018-07-20 13:29:35.529
Last review date 2018-07-20 13:29:43.05

Subject Title
Taxation Regulation and Reporting

Subject Description
The purpose of this subject is to provide students with the knowledge and skill to complete personal and business tax forms. Students will learn how to respond to and apply the fundamental provisions of laws that affect taxation of a business and their personal situation. The emphasis will be on practical aspects of compliance.

Credit Status
One Accounting credit (not CGA equivalent). Equivalent to CIB332, Income Tax, with the Canadian Institute of Bookkeeping provided the student achieves a grade of 65% minimum.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Prepare the Harmonized Sales Tax (HST) Return and Registration for an HST account number.

2. Identify and apply the registration and reporting requirements re: payroll related taxes.

3. Identify and prepare various tax returns and information slips including T1, T2, T3 and T4, as required.

4. Describe the key components of Excise Taxes.

5. Identify and describe the basic structure of personal tax return and be able to complete a personal income tax return.

6. Identify and describe the basic structure of corporate tax return. Understand the difference between accounting income and income for taxation purposes and be able to reconcile the two.

7. Complete the "business number" application form.

8. File objections to various assessments re: HST, Income Tax, etc.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on for further information regarding cheating and plagiarism policies and procedures.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

ACC120 and ACC220.

Topic Outline
Harmonized Sales Tax (HST)
Import Duties Tax (ETA) 
Payroll Taxes 
Registration of Employers for Remitting Payroll Tax 
Workers' Compensation 
Vacation Pay 
Record of Employment 
Personal Income Tax 
     - Sources of income
     - Deductions 
     - Personal credits 
     - Taxes payable 
     - Child care 
     - RSP 
     - Rental property & Capital gains 
     - Business income 
     - RIF's 

Mode of Instruction
A combination of teaching methods will be utilized which may include lectures, case studies, discussions, group and individual work.

Prescribed Texts
Online materials only. Additional materials and cases will be distributed in class.

Reference Material
Title: Canadian Tax Principles
Edition:  2012-2013
Author: Byrd & Chen
Publisher: Pearson 
ISBN: 978-0132846868

Required Supplies

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online ( or at Seneca's Registrar's Offices.

Modes of Evaluation
Assignments are due on the dates specified. Should extenuating circumstances arise, please contact your instructor immediately, prior to when your assignment is due, so an appropriate course of action can be established. Late assignments may be subject to a penalty of up to 10% per week and will not generally be accepted beyond two weeks after the assignment due date.

In cases of cheating or plagiarism, the College Academic Policy will prevail.  Please ensure that all assignments and reports are properly documented.

Students are referred to the following web site for the Seneca College Library MLA Style Guides, Academic Honesty Policy and Copyright guidelines:  


Dates for evaluations are specified in the weekly schedule addendum to this outline. The evaluation process may include, but is not limited to, tests, exams, assignments or presentations. Any absences or missed submissions due to medical or other reasons must be supported by medical or other appropriate documentation within one (1) week of the due date. The faculty and program area must be notified immediately in the even of a missed evaluation. Upon acceptance of the documentation, the weighting of the missed deliverable will normally be applied to the final exam.

English Competency:

The ability to communicate effectively is essential for success in business. Therefore, you must demonstrate English competency in this course in both oral and written work. Ensure your written work includes correct sentence structure, spelling and punctuation. Always spell check, edit and proofread your work.

Grading is based on the following marking scheme: 

Term Test 40%
Case Study 20%
Final Exam 40%

Please retain this course outline document for future educational and/or employment use.

Program Coordinator
Keith Chapin

Approved by: Jeff McCarthy