Curriculum
- Introduction (3:10)
- What to Expect in the course.? (3:02)
- Information About Certificate of Completion & Refunds Policy (2:20)
- Tax Software - Introduction (3:14)
- TAX Software- How to Download and Use it Practically (4:48)
- What license is required to practice taxation.? (8:13)
- Difference between Corporation and Personal Taxes (4:30)
- Who Must file tax (5:21)
- Why should everyone file income tax.? (2:49)
- Canadian Income Tax (Introduction) (4:29)
- Deadlines for Tax Filling (1:46)
- Late filling penalties (1:56)
- Interest On Balance Owing (3:45)
- Waive Penalties/Interest For late filling & Delayed payments (3:00)
- How Tax Instalments Works (3:21)
- E-filing / NETFILE Tax Returns (3:04)
- Benefits Of Online Filling (4:35)
- Marginal Tax Rate System (8:37)
- Provincial Tax Bracket (5:44)
- Illustration / Example of Tax Brackets (5:12)
- Tax Deductions and Tax Credits (2:56)
- Illustration of Tax deduction and Tax Credits (5:27)
- Notice of Assessment (4:32)
- Notice of Re-Assessment (5:03)
- Online Tools (2:59)
- CRA Online Services (Systems) (3:50)
- T1 General (Main Federal Tax Form- Introduction and 2010 Form) (10:40)
- Showing T1 General 2023 Version (10:21)
- T1 General (Showing it in Tax Software) (3:20)
- Schedule 2 (Amounts Transferred From Spouses - Common Law Partner) (3:48)
- Schedule 3 (Capital Gains & Losses)- How it Works (8:13)
- Schedule 3 (Principal Residence Disposal) - Complex Topic made Simple (3:16)
- Schedule 4 (Investment Income) (1:16)
- Schedule 5 (Amounts claimed for Dependents (Spouses/ Children/ Other individuals) (2:41)
- Schedule 6 (Working Income Tax Benefits) (4:59)
- Schedule 7 (RRSP Worksheet) (6:35)
- More Complex Issued for RRSP Deduction- Two Situations (8:17)
- Schedule 8 (Canadian Pension Plan Contributions and Overpayments) (4:42)
- Schedule 9 (Donations and Gifts) (3:12)
- Schedule 11- Tuition Worksheet (7:19)
- Schedule 13 (Employment Insurance Premiums on Self-Employed and Other Eligible Earnings) (3:58)
- Schedule 15 (FHSA Contributions) (5:35)
- Provincial Forms & Schedules (All schedules explained in Detail) (4:16)
- What is the slip system of Reporting.? (6:17)
- T4 Slip: Statement of Remuneration Paid (7:39)
- T4A Slip- Statement of pension, retirement, annuity , and other income (8:45)
- T4E slip – Employment Insurance and Other Benefits (6:23)
- T5018 – Statement of Contract Payments (3:23)
- T5007- Statement of Benefits- Social Security (Welfare) (2:14)
- T4A(P) &T4A (OAS) Statement of Canada Pension Plan Benefits (3:36)
- T4RSP Slip: Statement of RRSP income (4:25)
- T4RIF-Statement of Income from a RIF (3:36)
- T4FHSA – First Home Savings Account (3:53)
- T3 Slip: Statement of Trust Income Allocation and Designations (6:59)
- T5- Statement of Investment Income (3:27)
- T5013 Slip- Statement of Partnership Income (3:28)
- 5008 Slips: Statement of Security Transactions (3:12)
- T2202A- tuition education, textbook amounts certificate (4:16)
- Auto Fill my return (1:25)
- Basics of Employment Income. (2:00)
- Things included in employment income (6:09)
- Important Tips for T4’s (Common-Errors) (2:10)
- T4A Slips - SELF EMPLOYED INDIVIDUALS (2:36)
- T4PS –Profit Sharing (1:55)
- Reporting Causal Labour/ Tips and other income (2:54)
- Wage Loss Replacement Plan Reporting (2:54)
- CPP & EI Contributions (6:07)
- Introduction (3:23)
- Declaration of Conditions of Employment Expenses Form (T2200) (9:00)
- T777 Statement of Employment Expenses (8:10)
- How to claim vehicle expenses for employment income (Illustrative Example) (11:32)
- What if employer pays for vehicle as flat rate or per KM.? (Complex Situation) (10:22)
- How to claim home office expenses for employed Individuals.? (4:21)
- Illustrative Example and more complex cases of Home expenses.? (3:41)
- If the employee has been reimburses for expenses for by Employer (Dealing with Complex T2200 & T777) (29:22)
- Commissioned Salesperson/ Employees (Extra Expenses that are allowed) (4:35)
- Claiming GST/HST (Eligibility) (Process) and Special Topic (3:58)
- Labour Mobility Deduction (For Eligible Tradesperson) (3:13)
- Introduction to other tax deductions (1:51)
- Reporting Pension Adjustments on T1 General (4:16)
- Union Dues and Professional Fee (3:38)
- Pension Income Splitting for seniors - 1032 Election to Split Income (2:13)
- Example of Pension Income Splitting for Seniors and the T1032 Form (2:50)
- RRSP - BASICS
- Where to to find the RRSP Contribution room.?
- RRSP contribution, Rules of Withdrawal, Annual RRSP Contribution Limits.?
- Undeducted RRSP Contributions
- How to Report RRSP Contribution on T1 (illustrative example)
- Where CRA REPORTS UNUSED OR UNDEDUCTED RRSP CONTRIBUTIONS
- Spousal RRSP Contributions - RULES
- Overcontributions to an RRSP & Tax Complications
- Example of Overcontributions to an RRSP (illustrative Example)
- Overcontribution -RRSP- Where to find it.?
- THE HBP (HOME BUYERS PLAN) & LIFE LONG LEARNING PLAN (LLP)
- How to report HBP replayment on T1 Return and Schedule 7
- HBP-Non Payments, Partial Payments and Additional Payments
- Life long learning Plan (LLP) under the RRSP.
- Child Care Expenses - Reporting Child & Spousal Support
- Rules and Eligibility (Child Care Expenses)
- Form for claiming Child Care Expenses (T778)
- Complications with Spousal and Child Support Payments
- Illustrative Example of How to Report Child support Income & Expenses.
- Moving Expenses: Rules, Criteria, & where to Deduct (T1-M) form
- In-Eligible Moving Expenses, Simplified method for travel and Filling out the T1-M Form
- FHSA: Introduction, Where to Report (Schedule 15) and T1 Return
- FHSA REPORTING: WITHDRAWING FUNDS FROM AN FHSA ACCOUNT
- Introduction, General Information, and Useful Resources
- Difference between Tax Credit and Actual Tax Saving
- Illustrative Example (How Tax credits works in the software)
- Refundable Vs Non-Refundable Tax Credits
- Transferring Unused Tax credits to Spouse/ Parents
- Canada Basic Personal Amount and Canada Employment Amount
- CPP and EI Premiums Tax Credits
- Calculating CPP and EI Overpayment on the T2204 Form
- Dependent Tax Credit: Spouse and Common Law partner
- Amounts for Eligible Dependent Credit
- Canada Caregiver Amount & Including Supplementary Amounts
- Senior Tax Credits: The Age Amount Credit
- Pension income Credit
- Multigenerational Home Renovation Tax Credit
- Student Tax Credits - Interest tax on student loans
- Tuition tax credits and recent changes
- Claiming tuition credits on Schedule 11 (All about tuition credits)
- Family Tax Credits
- Medical Expenses
- Other Available Tax credits
- What is rental Income.? Difference between Rental and Business Income. (3:29)
- 10.2 Where to Report Rental Income (Illustration Using the form) (7:20)
- Rental Expenses (Reporting in the Software) (3:56)
- Rental Losses (How to use rental Loss against other income) (5:08)
- Claim Vehicle Expenses (How to Claim practically) (3:18)
- Selling Your Home - When Part Of It is Rented (4:08)
- Vacation Property How to deal with Rental Income (1:56)
- Capital Cost Allowance (CCA- RENTAL INCOME) (4:11)
- CCA Calculation & New Accelerated Investmetn Initiative (2:50)
The Course
Hey there! So you're ready to tackle the nitty-gritty of Canadian personal tax like a pro, huh? Well, our deep dive into the complexities of the tax system is just what you need. We'll cover everything from the ground up – think of it as your personal tax boot camp. You'll learn how to navigate the twists and turns of filing taxes, including deductions, credits, and income splitting strategies to maximize returns. Whether you're self-employed, a seasoned investor, or just looking to understand those pesky T1 forms, we're here to de-mystify the process, giving you the tools to handle personal tax scenarios with confidence.
But that's not all – we'll also bridge the gap between theory and practice. You'll get hands-on experience through practical case studies, simulating real-life situations to ensure you're well-prepared for anything tax season throws your way. With this training, you'll not only be ready for your personal tax submissions but be in a prime position to provide advice, troubleshoot issues, and offer expert tax planning services to others. Get ready to save money and reduce stress during tax time, and hey, you might even become the go-to tax wizard in your circle!
Your instructor
Education and Experience: RCIC-IRB-3-Licensed Immigration and Refugee Consultant), Many years of experience in Tax Business, Mechanical Engineer, Founded Companies: Everything Education Services and a Immigration firm, Ex- Insurance Broker & Agent,, Financial Advisor- Specialist in Canadian Investments, & Business Consultancy and a IELTS Instructor)
Sahil's engagement with the Advanced Personal Tax Course is driven by his fervor for empowering individuals with the proficiency to master their own tax affairs. His commitment to the course materializes from a sincere belief in fostering financial literacy and confidence among taxpayers. By fostering an interactive and supportive learning environment, Sahil ensures that his students not only absorb critical tax concepts but also develop the critical thinking necessary to apply them in real-world scenarios. His passion for tax education lays the groundwork for a course experience that is as enlightening as it is relevant to today's tax professionals.