Sources of income	Chapter
Employment	3	Basic rules	Inclusions	Deductions
Business	4,5	Basic rules	Inclusions	Deductions
Property	5,6		Inclusions	Deductions
Miscellaneous income	9		Inclusions
Net taxable capital gains	7,8	Basic rules	Proceeds	Cost
Miscellaneous deductions	9			Deductions
Losses	3-7
= Division B income
Division C adjustments	10,11	For individuals	For corporations
= Taxable income
x Tax rate	10,11	For individuals	For corporations
= Gross tax
- Tax credits/deductions	10,11,12	For individuals	For corporations
= Income tax payable

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	Text Reading	Subject	Exercises	Problems
	Preface, 1: II	Introduction to the Income Tax Act	1	1AE,1FJ,1KO
	1: I, III, IV	Introduction to taxation	2	2A,2BE
	4: IA, 7: IB	Income vs. capital	4.1,2	4.1,7.1
	7: I, II	Capital gains		2
	7: IIIF, IV	Adjusted cost base	3,4,5	6,9
	7: V	GST on residential property and used goods
	10: IA, B	Taxable income for individuals	1	1,2,3
	11: IA, B, C, D	Taxable income for corporations	1-5	1
	11: IIA, B, C	Computation of tax		6
	11: III	Manufacturing and processing profits	9	8,9,11
	4: IB, II, IIIA	Income from business	3,4,5,6,8	6
	4: IIIA	Pension expense	7	3,4B,7
	4: IIIE	Farming		8
	4: IIIH, IV	R&D; GST		2
	5: IA, B	CCA: basic rules	1,2,3	1A,1B,2A,2B
	5: IC	Exchange of property	4	3
	5: ID	Leases	5	4A,4B,5
	5: IF, G	Change in use	6	6
	5: II	Eligible capital property	7,8	7,8,9A,9B,10A,10B
	5: III	GST on capital personal property
	6: IA, B	Interest income	1	2
	6: IC, D	Dividend and other income from shareholdings	2,3,4	3
	6: IE	Income attribution	5	4
	6: IIA, B	Carrying charges on land	6	5
	6: IIC, D	Rental properties	7	6
	6: IIE, F, III	Interest expense	8,9	7,9,10
	6: IV	GST on property income	10,11	8
	15: IIIC	Preferred share dividends		15.5
	8: IID, E	Replacement property	4	1,2
	8: IIF	Disposition of building for less than FMV		3
	8: IIG	Property with more than one use
	8: III	Non-arms length transfers	8,9
	8: IV, V	Death	10	5,6
	11: IE, F	Acquisition of control	6,7	2A,2Bi,2Bii,3,4,5
	12: I, IIA, B, C	Small business deduction	1	1
	12: IID	Associated corporations	2,3,4,5	2AE,2FJ,3AD,3EG,4
	12: IIF, H	Manufacturing and processing profits
	12: III	Refundable taxes on investment income	6,7,8,9,10,11,12	5,7,8,9,10,11,12,13,14
	3: I	Employment income	1	1
	3: IIA, B, C, D	Inclusions	2,3,4	2
	3: IIE, F, G	Automobile benefits		3
	3: IIH, I	Employment insurance benefits	5	4,5
	3: IIJ	Stock options		8.5,10.1
	3: III, IV, V, VI	Deductions	6,7,8,9,10,11	6,7A,7B,8A,8B,9,4.4A,4.5A,4.5B
	13: I, II	Shareholder-manager remuneration	1,2,3,4,5	1,2,3,4,5
	13: IV, V	General anti-avoidance rule	9	10,11
	2: I	Residence of individuals	1,2	1,2,3
	2: II, III	Residence of corporations	3	4,5,6
	9	Other income and deductions
	February 12 4:00-5:30 in Drake 343	Midterm exam on chapters 1,4,5,7,10,11
	April 14 1:30-4:00 in Drake 122	Final exam on chapters 1,3-8,10-13