Income tax – Consequences to avoid
What is the difference between the types of e-learning activities?
- A webinar is a live training activity which you must attend at the date and time indicated. You may access the training platform in your online file 7 days before the date of the webinar. We strongly recommend that you log in to the platform before the date of the webinar and follow the instructions in step 3 of your training path beforehand in order to test your computers’ configuration and prevent any connexion problems during your training activity.
- Web conferences, web interviews, interactive training activities, webcasts and online training activities are recorded training activities. They can be accessed at all times after their availability date.
General objectiveIn order to deliver the training activity in a realistic manner, the session introduces topics by starting with common transactions or events before presenting the unfortunate tax result. Subsequently, the seminar explains the income tax rules and reasons behind the negative result ensuing from each particular situation. Participants receive suggestions to manage and mitigate such a problem as well as tips for recognizing relevant precursors and triggers. Finally, the seminar provides participants with notes that elaborate on detailed background information for each situation.
ContextNegative consequences represent an unfortunate part of life. While many professionals can proactively anticipate results, some consequences occur unexpectedly. In the world of tax, even straightforward and seemingly benign situations can trigger adverse income tax repercussions. Accordingly, this seminar will equip participants with the skills to identify, prevent, and manage such outcomes.
By the end of this training activity, participants will be able to:
- identify triggering conditions of income tax rules which might apply in common transactions;
- recognize the significance of the applicable income tax rules;
- assess the degree of exposure to adverse consequences; and evaluate the potential impact;
- strategize to prevent, manage or mitigate unintended income tax outcomes.
- Investments in a corporation
- Intercorporate dividends and exposure to taxation as a capital gain
- Individuals selling shares to non-arm’s length corporations
- Family income splitting
- Select obstacles to claiming the small business deduction
- Stop-loss rules
- Scenarios involving unfortunate income tax results
Although most tax practitioners will benefit from this seminar, the session particularly targets CPAs — not specialized in tax — who work in an environment with income tax consequences.
Participants enrolled in this seminar should possess a working knowledge of general corporate and personal income tax.