ACC643 - Personal and Corporate Tax Software Applications
| Semester | |
| School | |
| Last revision date | May 27, 2024 1:14:41 AM |
| Last review date | Jul 10, 2024 2:06:17 PM |
Subject Title
Personal and Corporate Tax Software Applications
Subject Description
This course provides individuals with the practical knowledge to complete T1 and T2 returns using various levels of complexity.
Credit Status
One credit
Learning Outcomes
Upon successful completion of this subject the student will be able to:
Upon successful completion of this course, students will be able to:
- Prepare T1 returns using CANTAX software for individuals and sole proprietors
- Prepare T2 returns using CANTAX software for corporations
Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecapolytechnic.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).
Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.
Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecapolytechnic.ca.
Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.
Camera Use and Recordings - Synchronous (Live) Classes
Synchronous (live) classes may be delivered in person, in a Flexible Learning space, or online through a Seneca web conferencing platform such as MS Teams or Zoom. Flexible Learning spaces are equipped with cameras, microphones, monitors and speakers that capture and stream instructor and student interactions, providing an in-person experience for students choosing to study online.
Students joining a live class online may be required to have a working camera in order to participate, or for certain activities (e.g. group work, assessments), and high-speed broadband access (e.g. Cable, DSL) is highly recommended. In the event students encounter circumstances that impact their ability to join the platform with their camera on, they should reach out to the professor to discuss. Live classes may be recorded and made available to students to support access to course content and promote student learning and success.
By attending live classes, students are consenting to the collection and use of their personal information for the purposes of administering the class and associated coursework. To learn more about Seneca's privacy practices, visit Privacy Notice.
Prerequisite(s)
ACC540 and ACC642
Topic Outline
- Overview of CANTAX
- Net income for individuals and sole proprietors
- Tax credits for individuals and sole proprietors
- Taxable income for individuals and sole proprietors
- Taxes payable
- Net income for corporations
- Tax credits for corporations
- Taxable income for corporations
Mode of Instruction
In-class
Weekly labs for hands-on practice using cases
Prescribed Texts
Current CANTAX software
To find out the cost of books and learning material go here.
Any courses not listed on the bookstore webpage do not require any resources for purchase. All resources will be provided by your instructor.
Reference Material
None
Required Supplies
None
Student Progression and Promotion Policy
http://www.senecapolytechnic.ca/about/policies/student-progression-and-promotion-policy.html
Grading Policyhttp://www.senecapolytechnic.ca/about/policies/grading-policy.html
| A+ | 90% to 100% |
| A | 80% to 89% |
| B+ | 75% to 79% |
| B | 70% to 74% |
| C+ | 65% to 69% |
| C | 60% to 64% |
| D+ | 55% to 59% |
| D | 50% to 54% |
| F | 0% to 49% (Not a Pass) |
| OR | |
| EXC | Excellent |
| SAT | Satisfactory |
| UNSAT | Unsatisfactory |
For further information, see a copy of the Academic Policy, available online (http://www.senecapolytechnic.ca/about/policies/academics-and-student-services.html) or at Seneca's Registrar's Offices. (https://www.senecapolytechnic.ca/registrar.html).
Modes of Evaluation
Grading is based on the following marking scheme:
| Assignment | 10% |
| Participation (in-person and online) | 10% |
| Asynchronous Activities | 20% |
| Midterm | 25% |
| Final Exam | 35% |
Assignments and other assessments are due on the dates specified in the weekly schedule. Any student in need of an extended deadline must negotiate a reasonable extension with the faculty in advance of the published deadline. Only under extenuating circumstances will late assignments be accepted without communication prior to the deadline. Documentation of the extenuating circumstances must be provided by the student upon request. At the discretion of the faculty, deductions may be applied for any late assignment submissions. Refer to the Student Assessment Policy.
In cases of cheating or plagiarism, the College Academic Policy will prevail. Please ensure that all assignments and reports are properly documented.
Students are referred to the Seneca College Library website for MLA Style Citation Guides, Academic Integrity Policy and Copyright guidelines: https://library.senecapolytechnic.ca/
English Competency
The ability to communicate effectively is essential for success in business. Therefore, you must demonstrate English competency in this subject in both oral and written work. Ensure your written work includes correct sentence structure, spelling and punctuation. Always spell check, edit and proofread your work.
Student Success:
Please come prepared to participate in class. Make sure you bring your course text and pedicure kit to each class, participate in class discussions, hand in any assigned work on time and attend each and every class. Following these suggestions will increase your chances of success.