Personal Tax Notes

Prepared by HTK Consulting

Our Canadian Personal Taxation summary notes contain a variety of complex topics found in the Income Tax Act (ITA) in plain, easy-to-understand language. These notes are perfect for those writing the CA Exams (Modules, CKE, SOA, and UFE), for university students, and for accounting professionals who need a refresher on topics. We are always updating and adding new notes, so please keep checking!

General Personal Tax Topics

General Personal Tax Topics
Understanding Division A, B, C and E
Taxable Canadian Property Defined
Who needs to file a personal tax return?
Determining Residency
Residency of Individuals
Implications of Emigrating from Canada | Departing Canada Rules
Tax Planning Scenarios
Divorce of a Taxpayer
Death of a Taxpayer
Pension Income Splitting

Division B Income: Income for Tax Purposes

Employment Income: Employees
Employee vs. Independent Contractor
Employment Income | Inclusions and Exclusions
Employee Disability Insurance Plans and Automobile Benefits
Employee Stock Option Plans
Loans from Employers to Employees
Allowances and Deductions from Employment Income
Social Assistance and Worker's Compensation
Business Income for Individuals: Self-Employed Individuals
Business Income vs. Capital Gains
Income or Loss from a Business
Reserves for Tax Purposes
Capital Cost Allowance for Depreciable Capital Assets
CCA Classes & Rates
Cumulative Eligible Capital for Unlimited Life Intangible Assets
Income From Property: Individuals
Income from Property | Interest, Dividends, Rent, and Royalties
Attribution Rules
Deductability of Interest Expense, Carrying Charges, Investment Advice Fees, Professional Fees
Capital Transactions: Individuals
Capital Gains and Losses
Replacement Property Rules
Personal Use Property (PUP) and Listed Personal Use Property (LPP) - individuals only
Allowable Business Investment Losses (ABIL)
Lifetime Capital Gains Deduction on QSBC Shares (individuals only)
Principal Residence Exemption (individuals only)
Renting Out a Principal Residence - Change In Use Rules
Attribution Rules
Disposal of Land and Adjacent Building
RRSP and Other Tax Deferred Plans
Basics of Tax Deferred Savings Plan and RRSP
Life Long Learning Plan (LLP)
Home Buyers' Plan (HBP)
Registered Education Savings Plan (RESP)
Tax Free Savings Account (TFSA)
Other Income Inclusions and Other Deductions for Individuals
Overview of Other Income and Deductions
Moving Expenses
Child Care Expenses

Taxable Income for Individuals: Division C Deductions

Taxable Income for Individuals: Division C Deductions
Division C Deductions for Individuals

Tax Payable

Taxes Payable and Tax Credits for Individuals
Personal Income Tax Rates
Ontario Marginal Rates and Comparable Provincial Marginal Rates at Top Bracket for 2012
Tax Credits for Individuals - Summary
Tax Credits for Individuals - Detailed Explanation
Deadlines, Installments, Interest and Penalties

Other Notes

Other Notes & Resources
Summary of 2013 Federal Budget Proposals
Holding a Mortgage in your self-directed RRSP

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