Principles of Taxation
ACCT 385
Desautels Faculty of Management
Winter 2024 Syllabus
Contact information
Instructor:
Email:
Dr Brian Wenzel
brian.wenzel@mcgill.ca
Office:
Office hours:
Bronfman 485
M
afternoon appointment (virtual via Zoom)
T
13:00– 14:00
Section information
Section (CRN):
Lecture time:
Lecture room:
001 (1044)
Tuesday & Thursday, 11:35 – 12:55
Bronfman 422
Learning outcomes
By the end of this course, students will:
• have acquired a base knowledge of the Canadian federal income tax system;
• have acquired knowledge of tax theory and be able to identify sound tax policy;
• be able to identify, analyze, and respond to a particular tax situation;
• be able to compare between different tax opportunities; and
• be able to navigate and complete a Canadian federal income tax return.
Instructional method
Lectures will be a mix of PowerPoint presentations and workout problems. Professor-generated
material for the week will be made available on myCourses; these are an overview of the materials
to be covered during lecture and therefore are NOT a replacement for the required textbook
readings and court cases. Professor-generated materials are protected by law and may not be
distributed in any form without explicit permission of the instructor. Infringements of copyright
can be subject to follow up under the Code of Student Conduct and Disciplinary Procedures.
Active participation is expected of students during lecture.
Required course materials
Byrd and Chen’s Canadian Tax Principles; 2023-2024 edition; Donell;
physical book + MyLab (e-text): ISBN 978-0-13-817728-7[for students wanting a physical book]
MyLab (e-text) only: ISBN 978-0-13-819972-2
[for students only wanting an e-book]
A student should only choose ONE of the ISBN options above. The physical textbook come with
access to the e-textbook. The e-textbook only provides access to the electronic version of the text.
Course evaluation
Each student’s final grade will be comprised of the assessment breakdown below:
Item
Weight
Quizzes
Tax return
In-class exams
Final
10%
10%
40%
40%
Each student’s final grade will be assigned in accordance with the University grading policy below:
Letter grade
Percent scale
Grade point
A
AB+
B
BC+
C
D
F
85 – 100%
80 – 84%
75 – 79%
70 – 74%
65 – 69%
60 – 64%
55 – 59%
50 – 54%
0 – 49%
4.0
3.7
3.3
3.0
2.7
2.3
2.0
1.0
0.0
Preparation
It is expected that students read all required readings related to lecture, as outlined in the attached
course schedule, BEFORE lecture. In addition to the textbook, we will use court cases throughout
the course. Citations for court cases (provided on myCourses) are as follows:
Royal Winnipeg Ballet vs Minister of National Revenue, 2006 FCA 87
Laliberté vs Her Majesty the Queen, 2018 TCC 186
Quizzes
There are 12 quizzes administered via myCourses. Each quiz covers material related to the
designated readings up to the related lecture, as provided on the attached course schedule. There
is a quiz each Thursday (excluding the first class). Each quiz will be accessible on myCourses from
the preceding Saturday until 11:00 am ON the Thursday due date.
Each student’s THREE lowest quizzes will be disregarded in evaluating a student’s final grade.
Students will have five minutes once a quiz is started to complete the quiz. If a technical
interruption occurs while a student is taking a quiz, the time limit does not pause.
Tax return project
Students will be given a set of facts and will be required to complete a federal T1 individual income
tax return using the project information. Detailed instructions will be provided at the time the
project is assigned. Students are expected to work individually on this project. The tax return, along
with all required documentation required for the project, is due by the beginning of the lecture
period on the due date.
Exams (in-class and final)
There are three exams scheduled during the semester, as outlined on the attached course
schedule; two non-comprehensive, in-class exams and a final, comprehensive central exam. All
exams are closed-book; students may NOT use materials brought in from outside the examination
room. Student’s may ONLY use a non-programmable calculator for the examinations. Electronic
devices (including smart watches) cannot be in the student’s possession while taking an exam.
Further exam rules can be found in the University Student Assessment Policy.
No additional office hours will be provided before any of the three exams. Correspondence related
to student questions of exam material will not be responded to within 24 hours of in-class exams
and within 48 hours of the final exam.
If a student has reason to miss an exam, they must request guidance from the BCom Office. The
BCom Office will decide if a student is allowed to miss the exam. If the BCom Office grants
permission to miss the exam, the student and instructor can arrange for a make-up exam to be
administered. The make-up exam must be taken within six calendar days before or after the date
of the originally scheduled exam. Alternatively, the student can opt to increase the weight of the
final exam to include the respective weight of the missed midterm exam.
End of course evaluations
End-of-course evaluations are one of the ways that McGill works towards maintaining and
improving the quality of courses and the student’s learning experience. You will be notified by email when evaluations are available. Please note that a minimum number of responses must be
received for results to be available to students.
Language of submission
In accord with the University’s Charter of Students’ Rights, students in this course have the right
to submit in English or in French and written work that is to be graded.
Conformément à la Charte des droits de l’étudiant de l’Université McGill, chaque étudiant a le
droit de soumettre en français ou en anglais tout travail écrit devant être note.
Academic integrity
McGill University values academic integrity. Therefore, all students must understand the meaning
and consequences of cheating, plagiarism and other academic offences under the Code of Student
Conduct and Disciplinary Procedures.
Class disruption
In the event of extraordinary circumstances beyond the University’s control, the content, method
of instruction, and/or evaluation scheme in this course is subject to change.
Inclusivity
As the instructor of this course, I endeavor to provide an inclusive learning environment. However,
if you experience barriers to learning in this course, do not hesitate to discuss them with me
and/or the Office for Students with Disabilities.
Students may face challenges that can impact not only their academic success but also their ability
to thrive in our campus community. Please reach out for support when you need it; many
resources are available on- and off-campus and online.
Please connect with me if you would like me to refer to you by a name different than the name
indicated in your student record or to inform me of your preferred pronouns.
Land acknowledgement
McGill University is on land which has long served as a site of meeting and exchange amongst
Indigenous peoples. Acknowledging these diverse Indigenous peoples marks this territory on
which we now gather.
Course schedule before Spring Break
Lecture
Date
Topic
Readings
01
Jan 04 R
LECTURE CANCELED
Introduction
Ch01 ¶¶1–99
02
Jan 09 T
Introduction
Ch01 ¶¶99–213
03
Jan 11 R
Procedures
Ch02 ¶¶1–167
04
Jan 16 T
Employment income
Ch03 ¶¶1–52
Royal Winnipeg Ballet
05
Jan 18 R
Employment income
Ch03 ¶¶53–161
06
Jan 23 T
Employment income
Ch03 ¶¶161–221; 241–246
07
Jan 25 R
Tax & credits
Ch04 ¶¶1–82; 101–103;
Ch04 ¶¶163–169
08
Jan 30 T
Tax & credits
Ch04 ¶¶108–130; 141–162;
Ch04 ¶¶170–172; 203–215
09
Feb 01 R
Clawbacks
Other income
Ch04 ¶¶225–234
Ch09 ¶¶23–26; 29–60; 71–89
10
Feb 06 T
EXAM #1
11
Feb 08 R
LECTURE CANCELED
Non-retirement savings
Ch09 ¶¶97–129
12
Feb 13 T
Capital cost allowance
Ch05 ¶¶1–114
13
Feb 15 R
Capital cost allowance
Ch05 ¶¶115–158
14
Feb 20 T
Business income
Ch06 ¶¶1–82; 178–187
15
Feb 22 R
Business income
Ch06 ¶¶76–170
16*
Feb 27 T
Property income
Ch07 ¶¶1–33; 44–68; 82–125
17
Feb 29 R
Property income
Ch07 ¶¶126–137; 145–153
Laliberté
Items Due
Quiz 01
Quiz 02
Quiz 03
Quiz 04
Quiz 05
Quiz 06
Quiz 07
Quiz 08
Course schedule after Spring Break
Lecture
Date
Topic
Readings
18
Mar 12 T
Capital gains
Ch08 ¶¶1–67; 76–94; 128–131
19*
Mar 14 R
Capital gains
Ch08 ¶¶101–113; 132–157
20
Mar 19 T
Exam #2
21
Mar 21 R
LECTURE CANCELED
Retirement savings
22
Mar 26 T
Retirement savings
Non-arm’s length
23*
Mar 28 R
Non-arm’s length
24
Apr 02 T
Taxes payable
Ch11 ¶¶15–60; 66–94;
Ch11 ¶¶101–138
25
Apr 04 R
General corporate tax
Ch12 ¶¶8–80
26
Apr 09 T
General corporate tax
Ch12 ¶¶81–129; 160–173
TBA
Final Exam
* denotes exceptionally difficult material
Ch10 ¶¶1–84
Ch10 ¶¶105–128; 143–158
Ch09 ¶¶135–155
Ch09 ¶¶
Ch09 ¶¶156–170; 177–184;
Ch11 ¶¶186–240
Items Due
Quiz 09
Quiz 10
Quiz 11
Quiz 12
tax return