Corporate Taxes

Corporate Taxes

This module is tailored for financial, tax, accounting, and investment professionals seeking to deepen their expertise in Canadian corporate taxation. Designed as an introductory program, it focuses on imparting a comprehensive understanding of the conceptual framework of the Canadian Corporate Income Tax Act and its practical application. Participants will learn essential skills in corporate income tax preparation, financial statement preparation for Canadian Controlled Private Corporations (CCPCs), and strategic tax planning using TaxCycle. Emphasis is placed on mastering compliance with tax laws and leveraging Canada Revenue Agency (CRA) technologies to navigate the complexities of corporate tax management effectively.

You will learn

  • Preparation of Corporate Income Tax Returns
  • Conceptual Structure of Canadian Corporate Income Tax Act
  • Administration of Corporate Taxation
  • Financial Statements for Canadian Controlled Private Corporations
  • (CCPCs)
  • Tax Planning Principles for Corporations
  • Compliance with Tax Legislation and Regulations
  • Utilization of Canada Revenue Agency (CRA) Technologies

Topics covered

Introduction to Corporate Tax

  • Sole Proprietorship vs. Corporation Introduction
  • Key Due Dates and Numbers

HST Filing

  • Understanding HST (Harmonized Sales Tax)
  • HST Filing Requirements
  • Using TaxCycle for HST Filing

Payroll Management

  • Payroll Taxes and Filings
  • Detailed Payroll Tax Calculations
  • Common Payroll Tax Deductions
  • T4 / T4A Preparation and Filing

Corporate Tax Returns (T2)

  • Introduction to T2 Corporate Tax Returns
  • Detailed T2 Return Forms
  • Filing T2 Returns Using TaxCycle

Dividend Issuance (T5)

  • Understanding Dividend Issuance
  • Preparing T5 Forms
  • Filing T5 Returns

Deductions and Credits

  • Identifying and Applying Deductions and Credits for Corporations
  • Tax Saving and Planning Strategies

Comprehensive Review

  • Reviewing Corporate Tax Returns for Accuracy
  • Salary and Dividend Planning for Tax Efficiency

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