Corporate Tax (Lavitt & Krysowaty)

Course Title:
Corporate Tax (Lavitt & Krysowaty)
Course Number:
LAW 3510
Category:
Course Description:

This course introduces the student, to the complex issues involved with the taxation of the income of corporations and their shareholders, and partnerships. A strong emphasis is placed on developing the skills necessary to interpret and apply complex legislation. Students also learn the basics of how to use their knowledge to help develop tax plans for their clients.

Virtually all practitioners will be faced by clients carrying on business in corporate or partnership form. One cannot carry out corporate or partnership transactions without an awareness of the impact of tax on the corporate or partnership form. Similarly, an understanding of corporate taxation is necessary to provide complete advice to family law clients or in structuring settlement agreements and understanding complex fact scenarios as a labour, employment, or civil litigation practitioner.

The course is essential for those who wish to have a relatively complete overview of the tax system, which in turn is highly desirable for those who will practice in any of the aforementioned fields of law.

It is strongly recommended that students achieve a grade of B or greater in Introduction to Taxation or in Introduction to Corporations (or any past or future coefficients) before registering for this course.

Teaching Method:

The course is taught by lecture method. Various problems and examples will be analyzed and discussed. This method can only be successful if students are prepared to undertake adequate preparation for classes. This is an advanced course and as such the subject matter is complex. After the first class, it is essential that the students read the materials and complete any assigned practice problems in advance.

Assessment:

4 in-class quizzes (4% each) 16%
Mid-term exam (1.0 hour, in-class) 39%
Final exam 45%

All of the above will be open book format

Course Materials:

Income Tax Act (Canada) – latest edition (provided free of charge by a sponsor)

Buckwold, W.J., Kitunen, Joan. Canadian Income Taxation: Planning and Decision
Making, Edition McGraw Hill Ryerson – latest edition.