Tax1 Refresher

In: Business and Management

Submitted By christine0889
Words 6897
Pages 28
Untitled Document

1 of 18

http://www.cga-education.org/2014-15/PAP/Refreshers/tx1.refresher.htm

TX1 Refresher
Welcome to the TX1 refresher. This presentation is intended to help you review taxation concepts as you prepare for the PA1 and PA2 exams. In addition to this refresher, a more detailed review of the Personal & Corporate Taxation course is provided in the TX1 lesson summaries. To brush up on the changes to the accounting treatment of tax issues, review IAS
12 under International Financial Reporting Standards (IFRS) as well as section 3465 of the
Accounting Standards for Private Enterprises (ASPE).
Purpose
Knowledge
Horizontal and vertical thinking
Ethics
Legal responsibilities
Income Tax Act
Steps in computing income tax
Source concept
Distinctions
Employment income versus business income
Business income versus capital gain
Business income versus property income
Business income versus hobby
Employment or office income
Accounting income versus income for tax purposes
Depreciation versus CCA and CECA
Taxable versus non-taxable
Calculating business income deductions
Income from property
Dividends

11/23/2014 12:12 PM

Untitled Document

2 of 18

http://www.cga-education.org/2014-15/PAP/Refreshers/tx1.refresher.htm

Tax integration — Corporation
Tax integration — Shareholder
Capital cost allowance
Cumulative eligible capital amount
Relationships
Related
Associated
Connected
Capital gains and losses
Taxable income
Tax payable by individuals
Tax on split income
Tax payable by a corporation
Part I tax payable by a corporation
Canadian controlled private corporation
Manufacturing and processing profits deduction
Part IV tax
Refundable tax
Tax planning
Tax evasion
Tax avoidance
Areas of tax planning
Residency
Part XIII tax
International issues

Purpose

11/23/2014 12:12 PM

Untitled Document…...

Similar Documents

Icap Report

...overview of our business, strategy, performance and governance. 1 Financial summary 2 Our segments 3 Our diversified business 4 What we do 5 How we create value 6 Opportunities and risks 7 Our strategy 8 Measuring our progress 9 Culture and people 10 Governance ICAP plc / Annual Report 2012 / ICAP in 10 3 ICAP in 10 Financial summary 1 2011 £m Variance % Business review Governance 2012 £m Key highlights − Group revenue from continuing operations fell to £1,681 million, a 3% decrease. Profit before tax1 of £354 million was up 1%. − Electronic broking revenue of £301 million produced an operating profit1 of £127 million. − Post trade risk and information revenue rose to £208 million and produced an operating profit1 of £91 million. − Electronic, post trade risk and information contributed 59% of operating profit1. − The Group’s operating profit1 margin remained at 22%. Continuing operations Revenue Operating profit1 Profit before tax1 Profit before tax statutory2 Dividend per share Earnings per share total operations Basic Adjusted basic Earnings per share continuing operations Adjusted basic1 1,681 372 354 217 pence 1,741 375 350 233 pence (3) (1) 1 (7) Variance % 22.0 21.1 40.1 40.1 2012 £m 19.95 28.7 39.9 39.9 2011 £m 10 (26) 1 1 Variance % Financial statements Total operations Net assets Free cash flow Net debt 1 2 3 1,210 268 (82) 1,251 189 (161) (3) 41 49 Information for shareholders 4 From......

Words: 2906 - Pages: 12

Leadership Plan

...Math Refresher Course Introduction Math Refresher Course Welcome to this mini-course on quantitative methods. This self-study mini-course is for those who wish to refresh their math skills prior to taking F530 Financial Management for Insurance Leaders. If you were unsuccessful in passing the math skills assessment for F530, this mini-course will remind you about skills you would have learned in senior high school math and will need for F530. If you have little math background, you will likely need to engage additional resources such as finding a tutor or reading additional texts. If you have difficulty with specific areas, resources are listed at the end of each module for follow-up. 2011 The Insurance Institute of Canada Math Refresher: Introduction 1 Math Refresher Course • Please ensure that you complete the questions as you move through the refresher mini-course. Unless you do the questions before checking the solutions, it is unlikely that you will get full value from this course. Solutions can be found at the end of each module. You will require a financial calculator to complete this course. The calculator currently being recommended for F530 is Texas Instruments BA II Plus. • 2011 The Insurance Institute of Canada Math Refresher: Introduction 2 The Insurance Institute of Canada Math Refresher Course Introduction Math Refresher Course • Included with this mini-course are three chapters from Jerome, F. Ernest. Business......

Words: 336 - Pages: 2

Safety Project 1

...Factor | Actions to be Taken | Date | Person Responsible | Additional Factors | KPI’s | Employees are unaware of OHS legislation and Codes of Practise | Incorporate the required information into the induction training for new employees and create a refresher course for existing employees | Week 1 | OHS representative and training manager | Must cover national, state/ territory legislation and codes of practise | Induction course updatedNew refresher course created | Employees are unaware of which policies and procedures are current and have not received training on them in 2 years | Review and update induction program and deliver to all employees.Develop policy for timing of induction refreshers and procedure review. | | OHS representative and training manager | Must cover all existing employees.Undertake a skills audit to identify any further gaps | Induction refresher delivered to all employees | There is no mechanism to inform employees of hazards | Implement a site hazard register. Identifying outstanding and completed hazards.Implement | | OHS representative | Site Safety Noticeboards to post all relevant information should be considered | Site hazard register operating and being utilised | Little encouragement or support for groups to manage hazards | Form a safety committee. Assign accountability for actioning any raised issues. Recognise individual/ group efforts in dealing with hazards. | | OHS representative and site management | | Safety Committee......

Words: 657 - Pages: 3

The Starbucks Meaning

...Professor Harris English 1101 October 16, 2013 Media analysis Starbucks refresher commercial: Thesis: Starbucks is not only selling a beverage but an everyday life style to which each should live by. Starbucks has built this commercial around a phrase” Rethink how you reenergize”. Starbucks is not only selling a beverage but an everyday life style to which each should live by. There new refreshers is the new and improved way to start your day. It has special natural ingredients to getting you closer with nature itself. The commercials is both warm and upbeat with making a connection with the inner us and the physical us. Throughout this analysis we will be looking closer and breaking down every detail from what can be seen by the eye to the concepts they want you to take away from the commercial. Interpretation on Farrell concepts and how they relate into this media. Let’s start from the obvious. These refresher beverages give you energy. Energy to any and everything.at the beginning we see the barista at Starbucks shaking up one of the refresher beverages. The fusion of the mixture us like the building of energy. Once the drink is poured into M a r s h a l l | 2 the cup, we see a change in the scenery. The energy is exploding out. We see a mother take a sip of the drink and in the next second she is kicking a soccer ball with her child. How often do we see that every day? The better question is what mother has the energy to do...

Words: 894 - Pages: 4

Yolo

...blank (uncheck all boxes) 6. Under Question 3 select “Not at this time” 7. Under Question 4 leave everything blank 8. Under Question 5 select “Not at this time” 9. Under Question 6 select “No” 10. Under Question 7 leave everything blank 11. Under Question 8 select “Not at this time” 12. Click Submit 13. Under “Oakland University Courses” you should now see “Student and Faculty Advisor Basic/Refresher”. Click on it. 14. Under “Student and Faculty Advisor Basic/Refresher-Basic Course click “Complete The Integrity Assurance Statement before beginning the course” 15. Agree to the Conditions of use 16. Under Required Modules, click the first available link. 17. Complete the module and take the quiz (if applicable) 18. Receive at least 85% on the required quiz 19. Click “Go to the next required module” 20. Repeat steps 17-19 until all modules are complete 21. Click “Main Menu” at the top of the screen, under the “CITI Program” logo. 22. Under “Status” the “Student and Faculty Advisor Basic/Refresher course should now be marked as “Passed” with the completion date next to it. 23. Click “Print Report” 24. Save the document as a PDF 25. Send the PDF to me in an email attachment....

Words: 299 - Pages: 2

Enhancing Tax Revenues Through Same Sex Marriage

... |$50,000 |$100,000 | |Tax1 |$6,945 |$19,966 | |Income of non-wage earner |$0 |$0 | |Tax1 |$0 |$0 | | | | | |Total Income of the couple |$50,000 |$100,000 | |Tax1 for the couple |$6,945 |$19,966 | | | | | |Status: Married Filing JOINTLY | | | |Total Income of the couple |$50,000 |$100,000 | |Tax1 for the couple |$4,210 ...

Words: 5314 - Pages: 22

Starbucks: Product, Pricing, and Channels

...drinks are Starbucks Refreshers, a refreshing twist on an old favorite. The flavor choices were carefully chosen based on the fruit flavor's popularity, as well as to add to the drinks existing taste. The first new drink in the Refreshers line is a coffee based beverage. The coffee Refresher's base is made from Starbucks' decaf Pike Place Roast. The base of this beverage's nutritional value includes: five calories, no fat, no sodium, and one gram of protein (Starbucks Corporation, 2014). To make this beverage the new Refreshers line, delicious fruit syrup is added to the coffee. Customers may choose between three flavors, Mango Passion, Acai Berry Blend, or Honey Lemon. Each fruit syrup adds one full serving of fruit to the beverage, helping customers meet their daily nutritional needs. The second drink's base is a Chai Brewed Tea. This beverage on its own offers no nutritional value, great for those watching their calorie and fat intake (Starbucks Corporation, 2014). Just like with the Coffee Refreshers, the Tea Refresher also adds delicious fruit syrup in the same three great flavors. Just as important as the drink is the packaging that the products are offered in. The coffee comes in the same recognizable and simple cups as before. These modern white cups with green designs and logo are a signature of the Starbucks Corporation. The tea is served in a similar cup, but clear and plastic. This product solves two needs of the target market. First off, the Refreshers line......

Words: 1931 - Pages: 8

Busn 460 Week 3 Individual Cango Financial Report

...the financial statements. Use these to fill out the table found in Doc Sharing labeled Financial Analysis Project, and submit to the Individual Financial Analysis Dropbox in Week 3 after making sure that you have added your last name at the beginning of the file name for your file As you complete your studies, the BUSN460 capstone course requires that you pull together all of your learning experiences to complete a business case. A part of that case requires you to review and analyze financial reports. The purpose of this refresher is to take you back to the basics and, within one hour, get you on the road to successfully completing the financial part of the case. Instructions: In the following narrative we have embedded tutorials and videos for you to view. You need only read the narrative and click on the hyperlink, and you will be on your way. Make sure your speakers are on. If you feel uncomfortable with a given topic, feel free to revisit this refresher and watch the appropriate video. There are six videos available to help you get up to speed on conducting a financial analysis: 1.) Introduction to Accounting 2.) Interrelationship of Financial Statements 3.) Current Ratio 4.) Inventory Turnover 5.) Debt Ratio 6.) Profitability To start this activity, please view the Introduction To Accountingtutorial. It will help to answer the questions what is accounting, who developed it, how does it work, how does it fit into the business model, what are the rules and......

Words: 3271 - Pages: 14

Performance Planning

...priority task at all times will be processing customer orders. * If you have any questions (eg. you’re not sure how to complete a task, or if you’re asked to complete a different task), you must immediately raise this with your manager. | Support | <supports> Describe what support you’re going to provide to the employee to meet the required outcomes.eg. * Your manager will provide you with refresher training on the order software. * Your manager will meet with you each Monday to provide you with feedback on your progress against the required outcomes. | Responsibilities | <responsibilities of all relevant parties>Describe the responsibilities of the employee, their manager and any other relevant parties.eg.Employee: * to meet the required outcomes by the final review date. * to participate in refresher training on the order software and weekly feedback meetings with your manager, as well as any other training or development activities that your manager considers appropriate.Manager: * to provide you with on-the-job support. * to provide you with refresher training on the order software. * to conduct weekly feedback meetings. | Consequences | <consequences >Describe the consequences if the employee doesn’t meet the required outcomes by the final review date.eg. If you fail to meet the required outcomes by the review date, without a reasonable excuse, you will be given a final written warning. | Performance improvement objective:......

Words: 453 - Pages: 2

Busn 460 Week 3 Individual Cango Financial Report

...the financial statements. Use these to fill out the table found in Doc Sharing labeled Financial Analysis Project, and submit to the Individual Financial Analysis Dropbox in Week 3 after making sure that you have added your last name at the beginning of the file name for your file As you complete your studies, the BUSN460 capstone course requires that you pull together all of your learning experiences to complete a business case. A part of that case requires you to review and analyze financial reports. The purpose of this refresher is to take you back to the basics and, within one hour, get you on the road to successfully completing the financial part of the case. Instructions: In the following narrative we have embedded tutorials and videos for you to view. You need only read the narrative and click on the hyperlink, and you will be on your way. Make sure your speakers are on. If you feel uncomfortable with a given topic, feel free to revisit this refresher and watch the appropriate video. There are six videos available to help you get up to speed on conducting a financial analysis: 1.) Introduction to Accounting 2.) Interrelationship of Financial Statements 3.) Current Ratio 4.) Inventory Turnover 5.) Debt Ratio 6.) Profitability To start this activity, please view the Introduction To Accountingtutorial. It will help to answer the questions what is accounting, who developed it, how does it work, how does it fit into the business model, what are the rules and......

Words: 3261 - Pages: 14

Sd2720 Module 1 Java Basics Refresher

...SD2720 Module 1 Java Basics Refresher Click Link Below To Buy: http://hwcampus.com/shop/sd2720-module-1-java-basics-refresher/ Lab 1.1 Creating Java Application In this lab, you will complete three tasks related to Java classes, their attributes, and error handling in a Java program. The task performed in this lab will help you understand how to break a complex software program into various classes by using object-orientated programming. Task 1 Scenario: Universal Bank offers various services to its customers. The bank has various branches all over the country and therefore, each branch has a unique code. The bank stores the details of its customers such as customer ID, customer name, account number, address, phone number, and email address. In addition, the bank offers its customers a choice of accounts, such as savings account, current account, and loan account. In addition, the bank stores its employee details, such as employee code, employee name, employee address, phone number, and email address. For the given scenario, complete the following: • Identify the various classes and their attributes used in this scenario. • Create a UML class diagram depicting the relationship among classes for the customer and employee information system of Universal Bank. • Create the Java code to implement the identified classes. • Assign values to the identified attributes. • Display the attribute values. Task 2 Scenario: Royal College offers......

Words: 528 - Pages: 3

Resume

...Human Subjects Research (HSR) Series CITI Program’s HSR series consists of modules from two basic tracks, Biomedical (Biomed) and Social-Behavioral-Educational (SBE), and a set of Additional Modules of Interest. Organizations may group these modules to form a basic Biomed or SBE course, or a course that combines the two tracks. The Additional Modules of Interest should be used in any course variation, if relevant. The basic Biomed modules have three corresponding sets of refresher modules and the basic SBE modules have two corresponding sets of refresher modules. These refresher modules are intended to provide learners with a review of what was covered in the basic level modules. It is generally recommended that organizations select refresher module requirements that reflect their selections for the basic course(s). Refresher courses should be taken in a cycle at an interval specified by your organization (for example, Refresher Stage 1: 3 years after completion of basic course; Refresher Stage 2: 6 years after completion of basic course). Three additional standalone courses are available: Institutional/Signatory Official: Human Subject Research, and IRB Chair. The Institutional/Signatory Official: Human Subject Research course provides a general introduction to the roles and responsibilities of the institutional official at an organization holding a Federalwide Assurance (FWA). The IRB Administration course offers members of an Institutional Review Board’s ......

Words: 9766 - Pages: 40

Busn 460 Week 3 Individual Cango Financial Report

...last name at the beginning of the file name for your file. Your assignment is due by Sunday, end of week, 11:59 PM (Mountain Time). Submit your assignment to the Dropbox located on the silver tab at the top of this page. For instructions on how to use the Dropbox, read these Step-by-Step Instructions or watch this  Dropbox Tutorial. Course Home – Financial Analysis Financial Ratio Analysis Refresher As you complete your studies, the BUSN460 capstone course requires that you pull together all of your learning experiences to complete a business case.  A part of that case requires you to review and analyze financial reports.  The purpose of this refresher is to take you back to the basics and, within one hour, get you on the road to successfully completing the financial part of the case. Instructions:  In the following narrative we have embedded tutorials and videos for you to view.  You need only read the narrative and click on the hyperlink, and you will be on your way.  Make sure your speakers are on.  If you feel uncomfortable with a given topic, feel free to revisit this refresher and watch the appropriate video. There are six videos available to help you get up to speed on conducting a financial analysis: 1.) Introduction to Accounting 2.) Interrelationship of Financial Statements 3.) Current Ratio 4.) Inventory Turnover 5.) Debt Ratio 6.) Profitability To start this activity, please view the Introduction To Accounting tutorial.  It will help to answer the......

Words: 680 - Pages: 3

Sd2720 Module 1 Java Basics Refresher

...SD2720 Module 1 Java Basics Refresher Click Link Below To Buy: http://hwcampus.com/shop/sd2720-module-1-java-basics-refresher/ Lab 1.1 Creating Java Application In this lab, you will complete three tasks related to Java classes, their attributes, and error handling in a Java program. The task performed in this lab will help you understand how to break a complex software program into various classes by using object-orientated programming. Task 1 Scenario: Universal Bank offers various services to its customers. The bank has various branches all over the country and therefore, each branch has a unique code. The bank stores the details of its customers such as customer ID, customer name, account number, address, phone number, and email address. In addition, the bank offers its customers a choice of accounts, such as savings account, current account, and loan account. In addition, the bank stores its employee details, such as employee code, employee name, employee address, phone number, and email address. For the given scenario, complete the following: • Identify the various classes and their attributes used in this scenario. • Create a UML class diagram depicting the relationship among classes for the customer and employee information system of Universal Bank. • Create the Java code to implement the identified classes. • Assign values to the identified attributes. • Display the attribute values. Task 2 Scenario: Royal College offers......

Words: 528 - Pages: 3

None

...GMAT Math Refresher – Diagnostic Test GMAT Math Refresher Diagnostic Test Please take the time to complete the following diagnostic test. If you have difficulty with any of the topics, you will be directed to one of several short refresher lessons available. 1 GMAT Integer Arithmetic Evaluate the following (without a calculator) a) Math Refresher – Diagnostic Test ( −5 ) + ( −8 ) = ( −2 ) − 10 = b) c) 5 × ( −2 ) × 3 = d) ( 10 )( −2 )( 4 ) = ( −8 )( 1) e) 4 − ( −4 ) = f) If you had difficulty with any of these questions, you may want to print and complete the Math Refresher lesson “Integer Arithmetic.” b) -12 j) ( −5 ) − 9 − ( −10 ) = d) 10 i) 8 − 14 = f) 1 h) ( −6 )( −1)( −8 ) = ( −2 )( −12 ) h) -2 g) ( −10 ) − 8 + 2 = j) -4 i) -6 g) -16 e) 8 c) -30 a) -13 2 ( −5 ) + ( −1) − ( −7 ) = Answers: GMAT Decimal Arithmetic Evaluate the following (without a calculator) a) 5.278 + 0.0544 + 17.65 = Math Refresher – Diagnostic Test b) 1.2074 + 11.809 = c) 6.0287 – 4.55 = d) 1.542 – 0.9438 = e) 8.5 × 16.3 = Answers: h) 8.8 g) 1.35 f) 304.512 e) 138.55 d) 0.5982 c) 1.4787 b) 13.0164 a) 22.9824 3 f) 6.24 × 48.8 = g) 57.78 ÷ 42.8 = h) 27.5 ÷ 3.125 = If you had difficulty with any of these questions, you may want to print and complete the Math Refresher lesson “Decimal Arithmetic.” GMAT Fractions Math Refresher – Diagnostic Test Evaluate the following and......

Words: 765 - Pages: 4