Income Tax Law and Policy (Gallant)

Course Title:
Income Tax Law and Policy (Gallant)
Course Number:
LAW2700
Course Description:

The introductory tax course is primarily concerned with personal income taxation. The objective is to develop a working knowledge of the basic principles and rules of the income tax system as these apply to individuals. A parallel objective is the discovery of the major policy decisions that inform the personal income tax system and the development of the ability to use tax policy analysis to evaluate advantages of, and problems with, the current system.

The course does not cover in any detail other types of taxes such as the GST (goods and services tax) or local property taxes, although the general nature of these and other taxes may be discussed briefly. Nor does this course deal extensively with the special rules for the income taxation of business vehicles such as corporations, partnerships and trusts. Some of the basic elements of corporate taxation will be introduced.

Teaching Method:

The course consists of an introduction to the principles and policies that animate the Canadian income taxation system. It canvasses foundational elements from theories and economic analysis to the parsing of the discrete tax dimensions of employment, business and property and the taxation of capital gains. It relies on readings, lectures and consideration of tax-related problems as its pedagogical methodology, all of which is typically organized around a popular Canadian text on income taxation. Assessment is chiefly through either a final comprehensive examination or sometimes a combination of a comprehensive examination with a short reflective take-home assessment.

Assessment:

25% midterm
75% final

Course Materials:

Materials on Canadian Income Tax,16th ed. Cockfield, O’Brien & Brown, 2020, Thompson Reuters

Income Tax Act, 2021 (or access to relevant sections. Available through Quicklaw, Federal Justice Website. Student Edition of the Income Tax Act (latest edition 2019), etc.