2014 CPA Canada In-Depth Tax Course Student Handbook by Chris Cramer

STUDENT HANDBOOK

In-Depth Tax Course

Course Overview

In-Depth Tax Course

DISCLAIMER The information contained in this student handbook, including the general policies and requirements, course topics, format and components are correct at the time of printing. Chartered Professional Accountants of Canada reserves the right to alter or delete any of the information contained within this student handbook.

ÂŠ2014 Chartered Professional Accountants of Canada. CONFIDENTIAL : For Training Purposes Only

STUDENT HANDBOOK Course Overview Ç&#x20AC; page 2

In-Depth Tax Course

TABLE OF CONTENTS DISCLAIMER TABLE OF CONTENTS INTRODUCTION: ABOUT THE IN-DEPTH TAX COURSE

2 3 7

What is the In-Depth Tax Course? Course Objectives Who is the course for? How long is the course? How is the course structured? Continuing Professional Development

7 7 7 7 8 9

GENERAL POLICIES AND REQUIREMENTS

Course Entry Requirements Payment Policy

10 10

Course fees Registration Payment for Accommodations Orientation, Research and Communications Course Group Study In-Residence

10 11 11 11 11 11

waitlist for in-residence location assignment Petition Process for In-Residence Location assignment Payment for Bus Transportation

11 12 12

Cancellation, Deferral and Compassionate Leave Policy

Cancellation of Orientation, Research and Communications Course, Group Study, and/or In-Residence 12 Deferral Policy for Group Study and/or In Residence 13 Compassionate Leave 13 Remote Student Policy Course Materials Tax Research Resources Knotia.ca Canadian Tax Foundation’s TaxFind Online

13 14 14 14 15

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In-Depth Tax Course Discussion Board Terms of Use Student Code of Conduct Be prepared Be engaged Be respectful ROLES AND RESPONSIBILITIES Students Attendance and Advance Preparation Orientation, Research and Communications Course Group Study In-Residence Courses Year 3 Project Performance Managers Group Study Leaders In-Residence Tutors In-Residence Lecturers In-Residence Course Coordinator Year 3 Project Supervisor DATA GATHERING AND PERFORMANCE MEASUREMENT CERTIFICATE OF ACHIEVEMENT COURSE COMPONENTS

16 17 17 17 18 19 19 19 19 19 20 20 20 20 21 21 22 22 23 24 25

Orientation, Research and Communications Course 25 Once you have completed the ORC Course, you will be required to access the online Assessment Questions and successfully complete them. Successful completion of the Assessment Questions requires that you answer at least 4 out of 5 of the questions correctly. You will not be able to continue on to Group Study 1 until you achieve at least 4 correct answers. There is no limit to how many times you can do the assessment. 25 Group Study 25 eLearning Lessons Process for Completion eLearning Lesson Features Discussion Boards In-Person lessons Case Studies In-Person Lesson, Group Study Leader’s Checklist

27 27 29 30 31 31 32

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Case Study Solutions Applying In-Depth Tax Concepts On-the-Job In-Residence Lectures and Tutorials In-Residence Lectures In-Residence Tutorials Applying In-Depth Tax Concepts On-the-Job CONTINUING EDUCATION LEARNING MANAGEMENT SYSTEM TROUBLESHOOTING THE LMS YEAR 1 COURSE COMPONENTS Topics and Competencies Individual Taxation Business and Property Taxation Capital Gains In-Residence YEAR 2 COURSE COMPONENTS Topics and Competencies STOP LOSS RULES AND TRANSFERS OF PROPERTY CAPITAL REORGANIZATIONS AND sale of ASSETS VS. SHARES SURPLUS STRIPPING AND CORPORTATE FINANCE ISSUES Accounting for income taxes in-residence YEAR 3 COURSE COMPONENTS Topics and Competencies Immigration and emigration transfer pricing U.S. tax for the canadian practitioner scientific research and experimental development (SR&ED) Safe income and safe income on hand introduction to indirect tax issues in-residence Year 3 Project Project Objectives Project Description Project Submission and Evaluation

35 35 36 36 36 36 37 38 39 39 39 40 41 41 43 43 43 43 44 44 44 47 47 47 47 48 48 48 49 50 51 51 51 52

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In-Depth Tax Course

This handbook presents an overview of the In-Depth Tax Course components, policies, and roles and responsibilities.

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In-Depth Tax Course

INTRODUCTION: ABOUT THE IN-DEPTH TAX COURSE What is the In-Depth Tax Course? The In-Depth Tax Course is Canada’s most comprehensive tax education course. It is the training ground of choice for Chartered Professional Accountants and other qualified professionals in public practice, industry, government or legal environments who are serious about working and specializing in the taxation area. The course has been re-designed to deliver the courses over three years in a blended format: both online and in person. The entire course is facilitated via an online learning management system that will serve as a simple portal for students to access all course materials. Each year, approximately 500 students enrol in the course. At any one time, up to 1,500 students may be taking part. Supporting them are approximately 150 faculty members including Tutorial Leaders, Group Study Leaders, and Lecturers. The course’s new blended learning format enriches students’ learning experience through a mix of materials including eLearning modules, self-assessments, as well as online and in-person facilitated group discussions.

Course Objectives The overall objectives of the In-Depth Tax Course are to provide students with: • • • • • • •

opportunities to read and interpret the Income Tax Act, specific knowledge of various concepts that are central to taxation in Canada opportunities to apply tax knowledge using a standard research process to solve nuanced case studies experience applying knowledge on-the-job using the research process forums to share knowledge and explore questions about course content assessments of their understanding of tax knowledge feedback for themselves and their employers on incremental performance and overall progress

Who is the course for? The course is intended for people who specialize in income tax. Students come from a range of employment backgrounds: from large, medium, and small accounting firms and from industry, government and law firms. To qualify, students must be working full-time and fulfill the basic requirements listed on page 10.

How long is the course? The course is delivered over three years.

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How is the course structured? The format of the course is depicted in Figure 1.1. For details of the individual course components, see Table 1.1. Figure 1.1 – In-Depth Tax Course Structure September/October

Orientation, Research and Communications Course (3 Days)

October/November

Group GroupStudy Study Year11 Year

January

eLearning Lessons (x3)

March

Summer

In-Residence 1 Lecture & Tutorials (1 Week)

Discussion Board (x3)

In-Person Sessions (x3)

On-the-Job

In-Person Sessions (x3)

On-the-Job

November

Group Study Year 2

January

eLearning Lessons (x4)

March

Summer October

Group Study Year 3

November January

In-Residence 2 Lecture & Tutorials (1 Week) In-Residence 2 Lecture &Tutorials (1 Week)

eLearning Lessons (x6)

Discussion Board (x4)

On-the-Job

Discussion Board (x6)

On-the-Job

3rd Year Project

March Summer

In-Residence 3 Lecture & Tutorials (1 Week)

On-the-Job

CERTIFICATE OF ACHIEVEMENT

Refer to pages 24 to 34 for more information on each course component.

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Continuing Professional Development The course qualifies for the following hours of continuing professional development (CPD): Table 1.1

COURSE COMPONENT

VERIFIABLE HOURS

Orientation, Research and Communications

19 hours

Group Study 1

125 hours

In-Residence 1

33 hours

Group Study 2

125 hours

In-Residence 2

33 hours

Group Study 3

125 hours

In-Residence 3

33 hours

Law Society’s CPD Requirements Ontario: This program may be eligible toward the Law Society’s CPD Requirement as Substantive Hours. Please note that this program is not accredited for Professionalism Hours. Alberta: For Alberta lawyers, consider including this course as a CPD learning activity in your mandatory annual CPD as required by the Law Society of Alberta. British Columbia: For BC lawyers, consider applying for individual recognition as a participant for your mandatory CPD hours as required by the Law Society of British Columbia. Quebec: For Quebec lawyers, consider applying for individual recognition as a participant for your mandatory professional development hours as required by the Barreau du Québec.

For all other provinces and territories, please contact your provincial law society to determine this Course’s eligibility for your mandatory CPD hours.

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GENERAL POLICIES AND REQUIREMENTS Course Entry Requirements Applicants must verify that they are employed full-time, spend at least 50% of their time working on Canadian tax matters and meet one of the following criteria: • •

• •

A Canadian designated accountant or a lawyer called to a Canadian Bar. An articling student of a Canadian accounting designation who has written final exams, and is in the process of fulfilling their work experience requirements and will be admitted to the profession in future years. An articling Canadian law student, who is in the process of articling with a Canadian law firm, or is enrolled in a Bar Admissions course to be admitted to his/her first Canadian Bar or Law Society. A university graduate who is working in a tax group of an organization where there is sufficient mentoring from other tax professionals and where the In-Depth Tax Course will complement their on-the-job training.

Payment Policy COURSE FEES Registration for new students is open from the beginning of July to the end of August. The initial payment covers the Orientation, Research and Communications Course and Group Study Year 1. Payments are due based on the following approximate schedule:

REGISTRATION PERIOD

FOR COURSE COMPONENTS

Beginning of July to end of August – Year 1

Orientation, Research and Communications Course (Fall) Group Study Year 1 (Fall/Winter)

Beginning of February to first week of April – Year 2

In-Residence Year 1 (Summer) Group Study Year 2 (Fall/Winter)

Mid-February to 1st week of April – Year 3

In-Residence Year 2 (Summer) Group Study Year 3 (Fall/Winter)

Beginning of March to mid-April

In-Residence Year 3 (Summer)

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Payments are accepted using the following methods: • • • •

VISA MasterCard American Express Cheque

Credit card payments can be made online. Payments by cheque must be mailed to CPA Canada. Liza Cruz Program Administrator — Tax Courses Chartered Professional Accountants of Canada 277 Wellington Street West Toronto, ON M5V 3H2 Tuition fees are accepted on behalf of a specific student and cannot be transferred to another student. REGISTRATION Whichever payment method is chosen, registration for the Orientation, Research and Communications Course and Group Study Year 1 must be completed online at the course website (http://cpd.cica.ca/incometax.cfm). Registration for subsequent course components must be completed on the Learning Management System (LMS). For instructions on registration through the LMS, please refer to the Navigating the Learning Management System presentation, which can be found in the Content Browser on the In-Depth Tax Course home page on the LMS. PAYMENT FOR ACCOMMODATIONS Orientation, Research and Communications Course CPA Canada provides a room block with negotiated pricing at a designated hotel(s); students are responsible for arranging their own accommodations. Group Study There is no need for accommodations during Group Study. In-Residence All students are required to live in-residence during the In-Residence 1, 2, and 3 Sessions. Students are responsible for in-residence/accommodation charges. WAITLIST FOR IN-RESIDENCE LOCATION ASSIGNMENT On registration, where a student is not provided their first choice of location for In-Residence, the student will be placed on a waitlist for that location. Priority on the waitlist will be given to local participants.

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PETITION PROCESS FOR IN-RESIDENCE LOCATION ASSIGNMENT On registration, where a student is not provided their first choice of location for In-Residence but can demonstrate that a business reason supports this preference, the student may send a petition letter to Sheri Price, Program Manager, Tax Education, CPA Canada explaining the rationale. CPA Canada would then approve or deny the petition. PAYMENT FOR BUS TRANSPORTATION If a student requires bus transportation to/from the In-Residence facility, an additional non-refundable fee will be added to their tuition payment. NOTE: For Western Canada In-Depth Tax course – CPA Canada will only be running a shuttle service back to Vancouver International Airport for this course. Each student is responsible to make their own arrangements to Whistler Village Resort. Details will be given upon registration.

Cancellation, Deferral and Compassionate Leave Policy CANCELLATION OF ORIENTATION, RESEARCH AND COMMUNICATIONS COURSE, GROUP STUDY, AND/OR IN-RESIDENCE • •

•

Cancellation requests must be received in writing by CPA Canada, either by mail or email. Refunds, less a $300.00 administrative fee (plus applicable taxes), will be issued for written cancellation requests received more than: • 15 days before the start date of the Orientation, Research and Communications Course • 30 days before the start date of the Group Study and In-Residence program Hotel cancellation fees apply to cancellations received fewer than 30 days before the start date of the In-Residence program.

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DEFERRAL POLICY FOR GROUP STUDY AND/OR IN RESIDENCE • • • •

•

Deferral requests must be received by CPA Canada in writing, either by mail or email. Requests for deferral of Group Study must be received by CPA Canada by January 30. Given the frequency of tax legislative change, course content can change significantly from year to year. For this reason, only a single one-year deferral is permitted during the three-year course. A deferral fee of $300.00 (plus applicable taxes) will apply to all granted deferrals, which is payable at the time of deferral. The tuition fee is non-refundable, however will be applied when you re-enter into the Course. In addition to deferral fees, In-Residence deferrals requested fewer than 30 days before the start of the In-Residence program are subject to applicable hotel cancellation fees.

COMPASSIONATE LEAVE Compassionate leave is available to students currently enrolled in the course. This leave is granted on an exception basis. Students who are granted compassionate leave are not subject to cancellation or deferral fees. Examples of situations that would qualify for compassionate leave include: • •

parental leave severe illness (requires doctor’s note)

Note: Women and men on parental leave may continue in the course if they choose. The course entry requirement that students must be employed full-time is waived during this period.

Remote Student Policy A remote student is a student who lives or works more than 100 kilometres away from a Group Study location. Remote students will be placed in call-in groups with other remote students. Remote students can request to be placed in an In-Person Group Study group if they choose.

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In-Depth Tax Course

•

Course Materials As a student of the In-Depth Tax Course, you are required to have access to: • • • •

A current version of the Federal Income Tax Act; Canadian tax court cases; Canada Revenue Agency publications and materials, such as Income Tax Rulings and Interpretations, Guides etc.); and Canadian Tax Foundation journal and newsletter articles.

TAX RESEARCH RESOURCES Knotia.ca To help with your course study, we are pleased to offer you complimentary online access to the tax reference materials available on CPA Canada’s Knotia.ca for the duration of the course. Connect to the Federal Income Tax Act Collection (FITAC), Canada’s most up-to-date source of federal income tax reference materials. FITAC includes the Income Tax Act and related legislation, administrative materials, case law, commentary and analysis, CRA rulings, fillable forms, Finance comfort letters and explanatory notes, tax rates and tools, tax treaties, and much more. Download eBooks. Convenient access to our tax guides for use on your computer, smartphone or tablet: • •

Ernst & Young’s Federal Income Tax Act provides coverage of Canada’s Income Tax Act and regulations edited by practicing tax professionals and published by CPA Canada. Ernst & Young’s Guide to Tax Research and Writing helps you learn the tax research process, how laws are enacted, and how to communicate your findings.

Access these reference materials at www.knotia.ca. A username and password will be sent to you before the course start date. If you have an existing Knotia account, you will receive separate instructions on how to access the materials.

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If you are not familiar with Knotia, or would like a refresher, please access the “help” tab in Knotia, where you will find: • • •

Knotia Quick Reference Guide — provides instructions for navigating Knotia Quick Reference Card — provides useful tips for effective research using Knotia Knotia Training — provides video tutorials for navigating Knotia

If you have questions related to your Knotia products, please contact Joanne Morra, Account Coordinator, at joanne.morra@ca.ey.com. Canadian Tax Foundation’s TaxFind Online Throughout the In-Depth Tax Course, students are required to do mandatory readings in order to complete Group Study lessons and to prepare for In-Residence. Many of these readings are articles published by the Canadian Tax Foundation (CTF). To provide equal access to all requisite readings for the In-Depth Tax Course, the CTF has agreed to allow access to TaxFind Online at a nominal charge of $75 for students who do not already have access to it through their place of employment. NOTE: This $75 non-refundable fee does not include membership to the CTF. Students will have access for 3 years as long as they remain in the In-Depth Tax Course.

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TaxFind Online is the CTF’s database of tax articles written for its conferences and publications— unique in its depth of tax analysis and research, both current and historical. TaxFind Online is an invaluable research tool for tax practitioners to find solutions to complex tax situations. Features include: • • • • • •

full-text searching over 150,000 pages of CTF articles updated monthly search results can be saved online a "reference line" for citation purposes accessible anywhere with an internet connection

To gain access to TaxFind Online, please contact: Preet Kahlon Membership, TaxFind & Accounts Administration tfstudent@ctf.ca Indicate that you are an In-Depth Tax Course student. You will be asked for your name, contact details and In-Depth Tax Course Student ID number found on your course registration confirmation sent via email.

In-Depth Tax Course Discussion Board Terms of Use By using the In-Depth Tax Course discussion board and submitting comments, you are agreeing to the terms and conditions of the forum. These include: • •

•

• • •

Spam and posts that contain profanity and/or defamatory language or are offensive to an individual or group will be deleted. Forum users who repeatedly post offensive messages will be given a warning and will be blocked from the forums if they continue to post inappropriately. This may include removal from the InDepth Tax Course. You are welcome to disagree with other member’s opinions, but it must be done in a respectful tone. Intentional disrespect of other students may result in a warning and potential removal from the course. You assume full legal responsibility and liability for your posted comments. Comments or opinions expressed on the forum do not necessarily reflect the views of CPA Canada participating accounting bodies, their management, employees, members or students. If you wish to complain about the content of a post or the behaviour of a contributor, please email: taxcourses@cpacanada.ca

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Student Code of Conduct The In-Depth Tax Course is designed for professionals in the Canadian tax industry. Students are expected to observe the following guidelines and expectations. Doing so will help create a positive, interactive and effective learning experience for everyone participating in the course. BE PREPARED • • • •

Review the roles and responsibilities of students below. Complete all course activities and requirements as required, including supplementary research and readings, Knowledge Checks, and Application Scenarios. Submit advance course work to your Group Study Leader on or before the specified deadline. Bring your copy of the Income Tax Act to all In-Person lessons of Group Study, and for all InResidence lectures and tutorials.

BE ENGAGED • • •

Actively participate in eLearning, online discussions, and In-Person lessons. Ask questions and engage in discussions with fellow students and faculty. Proactively apply the knowledge you acquire in your everyday work activities.

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BE RESPECTFUL • • •

Arrive or log on to In-Person and online sessions on time. Turn off or mute cell phones and other handheld devices, and confine your use of tablets to course-related activities. Be open to and considerate of differing ideas and opinions to help create a mutually trusting and safe learning environment.

Follow the usual rules related to academic honesty by doing your own research and course work and by not sharing course work or solutions with other current or future students (except as needed in group learning activities).

Grounds for Withdrawal from the Course Grounds for immediate withdrawal from the In-Depth Tax Course include: • • • • • • • •

Absence from more than one day of the Orientation, Research and Communications Course. Absence from more than one Group Study session in a year. Repeated postings of offensive messages to the online discussion board. More than one “Unsatisfactory” or “Not Submitted” evaluation in a Group Study course. Absence from more than one tutorial session in an In-Residence Course. Plagiarism or use of another student’s course work (except as needed in group learning activities). Sharing of course work with other current of future students, except as needed in group learning activities (e.g. case study problems, case study solutions, answers to online Assessments, etc.). Non-adherence to the Student Code of Conduct.

Withdrawal from the In-Depth Tax Course is at the discretion of CPA Canada. No refunds will be given. Upon approval of CPA Canada, the student may re-enrol in the particular level of the course the following year.

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ROLES AND RESPONSIBILITIES Students ATTENDANCE AND ADVANCE PREPARATION Attendance and participation are closely monitored. Attendance is mandatory at all sessions. Orientation, Research and Communications Course • • • •

Attendance is mandatory at all three days of the course. If a student misses more than one day of the course, he or she will be withdrawn from the program. No refunds will be provided. CPA Canada provides the attendance records of students to their Employers or Performance Managers. At the end of the course, online assessment questions must be completed with a minimum grade of 80%.

Group Study • •

• •

•

Group Study includes eLearning Lessons and In-Person Lessons. Each eLearning Lesson is made up of an eBook, eLearning modules, a set of assessment questions, and online discussion. Each eLearning Lesson and In-Person Lesson is expected to require approximately 15-20 hours to complete, including all necessary reading and research. • Online assessment questions must be completed with a minimum grade of 80%.The final assessment questions for Group Study 2 must be complete by the end of May. Attendance is mandatory. If a student misses one Group Study session in a year, his or her Employer/Performance Manager will be notified. If a student misses more than one session in a year, they will be withdrawn. No refunds will be given. The student may re-enrol in that level of Group Study in the following year if they wish. Meaningful participation in each online discussion is mandatory. Meaningful participation is determined by the professional judgement of the Group Study Leader. If a student misses one online discussion session in a year, his or her Employer/Performance Manager will be notified. If a student misses more than one session in a year, they will be withdrawn. No refunds will be given. The student may re-enrol in that level of Group Study in the following year if they wish. The course’s Learning Management System (LMS) will track students’ completion of eLearning modules, self-assessments, participation in the online discussion boards, and In-Person lesson attendance and participation. This feedback will also be available to the students’ Employer/Performance Managers.

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•

Before each In-Person lesson, students must submit answers to that lesson’s four Case Studies via the corresponding LMS dropbox. The Group Study Leader will select one Case Study from each lesson and evaluate students’ answers to that question.

In-Residence Courses • •

• •

Attendance is mandatory for all lectures and tutorial sessions. If a student misses more than one tutorial session in the week, the student will be withdrawn from the course. No refunds will be given. The student may re-enrol in the particular level of InResidence the following year if they wish. Tutorial Leaders submit attendance and participation reports to CPA Canada after every session. CPA Canada provides this feedback to each student’s Employer/Performance Manager.

Year 3 Project • • • • • •

The Year 3 Project is expected to require approximately 25-30 hours of each student’s time. Students will complete the Year 3 Project in self-selected groups of three, which must be communicated to CPA Canada by the summer of Year 2 of the course. CPA Canada will assign each group to a Project Supervisor. Each group will submit a project proposal and a final project to their Project Supervisor for evaluation. CPA Canada provides these evaluations to each student’s Employers/Performance Managers. Students must receive a grade of “Satisfactory” on both the proposal and final project.

Performance Managers Performance Managers play an important part in ensuring that students obtain the maximum benefits from the In-Depth Tax Course. The following are suggested guidelines for the Performance Managers’ role: • • •

They are expected to mentor, support, and supervise students throughout the three-year program. They will have access to information on their student’s attendance, participation and performance for each component of the course. They will receive a copy of the Student Handbook upon the student’s registration into the course, which will inform them about course policies, student code of conduct, course curriculum, and other details.

To maximize the course’s benefits, we encourage Performance Managers to identify projects for students, where possible, that enable them to apply their new knowledge in the workplace.

Group Study Leaders Your Group Study Leader will:

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•

• •

• • • •

evaluate the Case Study answers you submit in advance of each In-Person lesson during the year. Group Study Leaders will select one Case Study from each lesson to evaluate and, for each student, provide an assessment as whether the answer was “Satisfactory”, “Needs Improvement” or “Not Submitted.” This assessment will be recorded in your profile within one week of the InPerson lesson and will comprise part of your performance evaluation. track your attendance during the course. If you miss an online or In-Person lesson, your Performance Manager will be notified. monitor your progression through the online learning modules. If you are not progressing through the eLearning material at the required pace, your Group Study Leader will remind you that their completion is required. monitor and record your participation in the online discussion boards and In-Person lessons. This record will comprise part of your performance evaluation. check into the online discussion boards and monitor students’ progression through the eLearning modules at least weekly. monitor and remove inappropriate responses on their Group’s discussion board and contact CPA Canada. understand and follow CPA Canada policies related to the In-Depth Tax Course.

In-Residence Tutors Your In-Residence Tutor will: • • • • • • •

prepare for the tutorial sessions in advance by understanding the problems and becoming familiar with the suggested solutions. lead discussions of solutions to the assigned problems for each tutorial session and answer your questions regarding session materials. create a comfortable learning environment and encourage you and your fellow students to take part in discussions. attend all lectures during the week. attend the daily Tutorial Leaders’ luncheon to discuss the upcoming tutorial sessions and lectures, in addition to any issues and questions that arise in past sessions. report on students’ attendance and participation at each tutorial session to CPA Canada. understand and follow CPA Canada policies related to the In-Depth Tax Course.

In-Residence Lecturers Your In-Residence Lecturers will: • • •

be familiar with the learning objectives of the lessons for which they are responsible, as well as the overall learning objectives of the course. prepare the lecture materials to ensure learning objectives for the respective lessons are met, ensuring the technical completeness and accuracy of their lecture and corresponding notes. deliver the lecture materials for which they are responsible.

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• • •

ensure their lectures cover concepts and topics that will be covered in the case studies at tutorial sessions. attend the relevant Tutorial Leaders’ luncheon to discuss the upcoming tutorial sessions and lectures, in addition to any issues and questions that arise in the sessions. understand and follow CPA Canada policies related to the In-Depth Tax Course.

In-Residence Course Coordinator Your In-Residence Course Coordinator will: •

• • • • • •

prepare an annual report for CPA Canada that reviews the past session; evaluate Lecturers’ performance, course content, and venues; and suggest a curriculum outline for the next year’s offering of the session. coordinate Lecturers, content and delivery of materials. coordinate Tutors and overall management of tutorial sessions. prepare and review all tutorial session problems and solutions. liaise with CPA Canada staff and coordinate any preliminary set-up needs for the execution of the course. provide onsite management for the In-Residence program. understand and follow CPA Canada policies related to the In-Depth Tax Course.

Year 3 Project Supervisor Your Year 3 Project Supervisor will: • • • • •

meet with your group to discuss and provide feedback on the group’s project proposal. evaluate and approve your group’s project proposal. respond to a reasonable number of queries and provide guidance to you and your group members throughout the project. evaluate your group’s final project submission. understand and follow CPA Canada policies related to the In-Depth Tax Course.

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DATA GATHERING AND PERFORMANCE MEASUREMENT CPA Canada gathers data about the course and students’ progress within it for a number of reasons: • • • •

Students can access all data about their performance through the LMS. Students’ Employers and Performance Managers can access all data about the performance of the students they are sponsoring. Group Study Leaders can access all data to evaluate whether a student has completed the program requirements. CPA Canada uses the aggregated data in its continuous improvement of course content, delivery and materials. In addition, the data is used to evaluate whether a student has completed the program requirements and earned a Certificate of Achievement.

The table summarizes the various course components and the types of performance measurement data gathered.

COURSE COMPONENTS

PERFORMANCE MEASUREMENT

ORC

•

Attendance

eLearning Modules

•

Completion (view all screens on each module)

Assessment Questions

•

Successful completion (80%)

Discussion Boards

•

Participation

•

Meaningful responses to questions

In-Person Lessons

• • •

“Satisfactory” response to Case Study problems (submitted via LMS) Attendance Participation

In-Residences

• •

Attendance (Tutorials and Lectures) Participation (Tutorials)

Year 3 Project

•

“Satisfactory” submission of project proposal and final project

In the event that a Year 3 Project proposal or final project has received a mark of “Unsatisfactory”, group members will have an opportunity to discuss the Project’s deficiencies with their Project Supervisor and revise and resubmit an amended proposal or final project to their Supervisor.

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In-Depth Tax Course

CERTIFICATE OF ACHIEVEMENT On completing the In-Depth Tax Course, students will be awarded a Certificate of Achievement if they have: • • • •

adhered to the attendance policies of the In-Depth Tax Course, participated in all components of the In-Depth Tax Course, submitted a satisfactory solution to each assigned In-Person Lesson case study, and received an assessment of “Satisfactory” on the Year 3 Project.

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COURSE COMPONENTS Orientation, Research and Communications Course The In-Depth Tax Course begins with a three-day Orientation, Research and Communications Course (ORC Course). There will be five offerings of the ORC Course held regionally (B.C., Alberta, Ontario or Quebec depending on your location). This component of the ORC Course will consist of the following sessions: • • • •

Orientation to the In-Depth Tax Course Statutory Interpretation and Tax Case Analysis Comprehensive Tax Research Introduction to the Canadian Tax Landscape

All material will be accessible to students prior to the ORC Course via the LMS. These materials include PowerPoint slides and corresponding notes. Once you have completed the ORC Course, you will be required to access the online Assessment Questions and successfully complete them. Successful completion of the Assessment Questions requires that you answer at least 4 out of 5 of the questions correctly. You will not be able to continue on to Group Study 1 until you achieve at least 4 correct answers. There is no limit to how many times you can do the assessment.

Group Study Group Study has 3 distinct parts: • • •

eLearning Lessons Discussion Board In-Person Lessons

The diagram below provides a general timetable for when each of the components should occur.

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This is a rough guideline as it is up to your Group Study Leader to schedule the mandatory Discussion Board discussions as well as the In-Person Lesson meetings; however, all In-Person Lesson meetings must be complete by the end of April. The final assessment questions for Group Study 2 must be complete by the end of May. Following, each of the parts making up Group Study is discussed in further detail.

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ELEARNING LESSONS Each eLearning Lesson consists of an eBook component, as well as a set of eLearning Modules and assessment questions. The eBooks will provide you with foundational content required to gain an understanding of each of the relevant topics. The eBooks will also guide you to do some required readings in the Income Tax Act (ITA) and other resources to enhance your understanding of each topic. Each module of the eBook corresponds to an eLearning Module, which contains a series of Knowledge Checks and Application Scenarios designed to check your understanding of the concepts. Upon completion of each eLearning Lesson, you will complete a set of assessment questions designed to confirm your understanding of the concepts presented in the eLearning Lesson material. The diagram below outlines the relationship between each eBook and its corresponding eLearning Modules.

Process for Completion To complete each eLearning Lesson, you should: •

Read Module 1 of the eBook and perform all required readings and research: −

As you read the content for each topic, complete the required readings as outlined in the Research Link boxes in each module (see below). These required readings are essential to your understanding of the topics and the materials in the eBook are provided to compliment

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these readings.

• •

Complete the eLearning Modules that correspond to eBook Module 1. Go back to the eBook and complete the remaining modules and all required readings and research in order.

eBook Module 2

eBook Module 1

eLearning Module 2

eLearning Module 1 Required Readings

•

Complete the Assessment Questions for that eLearning Lesson: −

− •

Required Readings

When you have worked through all the modules of the eBook and eLearning Modules, you are required to access the Assessment Questions and successfully complete them (Note: you will not be able to proceed to the Assessment Questions until you’ve completed all the eLearning Modules in the Lesson).Successful completion of the Assessment Questions requires that you answer at least 8 out of 10 of the questions correctly. You will not be able to access the InPerson materials until you achieve at least 8 correct answers. There is no limit to how many times you can do the assessment. The final Assessment Questions for Group Study 2 must be complete by the end of May.

Access the online discussion board to participate in the eLearning Lesson discussions.

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eLearning Lesson Features The tables below outline some important features of the eBook and eLearning Modules that you should familiarize yourself with before you begin.

EBOOK FEATURES Learning Objectives

•

At the beginning of each section, you will find a set of learning objectives that outline the learning that should be achieved upon completion of the module

Research Links

•

“Research Link” boxes outline the additional readings that you must complete for each topic

eLearning Application

•

“eLearning Application” boxes indicate when there is an activity in the eLearning Module that corresponds to that topic

Keep in Mind

•

“Keep in Mind” boxes are for your reference only. They signal that there is a related activity in the eLearning Module for that topic. You should wait until you’ve completed the required readings and eBook before working through the activities in the eLearning Module

Key Points

•

“Key Points” boxes highlight and reiterate important content

Did You Know

•

“Did You Know” boxes provide interesting facts and supplementary information

On-the-Job

•

“On-the-Job” boxes offer suggestions for how to apply concepts in the workplace

Topic Summaries

•

Short summaries of key points/content highlights appear at the end of each topic section They can be useful as a quick reference tool to refresh your understanding of that topic

•

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ELEARNING MODULE FEATURES Learning Objectives

•

At the beginning of each section, a set of learning objectives outline the learning that should be achieved upon completion of the module

Knowledge Checks

•

Various activity formats are used throughout the modules to check your understanding of the topics you reviewed in your eBook and additional readings. Question types include: − − − − − − −

Application Scenarios

•

Drag & Drop Multiple Choice Multiple Select Category Select True or False Fill-in-the-Blank Calculations

Each Application Scenario is made up of a series of screens involving a single case study or example. Each series of screens include: − −

Background information on an individual and/or business in question, and the related tax issues A set of questions (presented in any of the formats listed above) requiring you to apply what you have learned in the eBook and your additional readings to address the issues presented

Note: For an overview of the navigational features of the eLearning Modules, please access the “Help” tab, which you can find at the top right corner of each module.

DISCUSSION BOARDS Following your completion of each eLearning Lesson, you should access the online discussion board on the LMS. On the discussion board, your Group Study Leader will pose questions for discussion that will debrief the topics covered in the eLearning Lesson you have just completed and prepare you for the topics that will be covered in the upcoming In-Person Lesson. Your Group Study Leader will also provide you with a list of additional readings and reference materials related to the particular eLearning Lesson and In-Person Lesson. Your Group Study Leader will track and monitor your participation and select one response to a posed question to assess. The Group Study Leader will evaluate whether you contributed to the discussion in a “meaningful” way (i.e., providing more than just simple yes/no posts). To allow all students to participate, please limit your responses to a maximum of 200 words.

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IN-PERSON LESSONS Each In-Person lesson consists of two main components: • •

Case Studies, which will be available on the LMS in advance of the In-Person lesson, upon achieving a grade of 80% on the online assessment Case Study Solutions, which you will receive after the In-Person lesson and after your attendance has been recorded as present by your Group Study Leader.

Case Studies You will be able to access the Case Studies for each In-Person Lesson on the LMS only once you have completed the Assessment (Note: the material will be locked and hidden in your LMS content browser until you achieve at least 8 out of 10 correct answers in the Assessment). The Case Studies outline the scenario and the corresponding questions and issues for which you must prepare answers and hand in via the LMS Dropbox in advance of the In-Person lesson. Of the four Case Study answers you prepare, your Group Study Leader will choose one to evaluate. The overall evaluation of your submissions will be tracked in the LMS. To obtain the Certificate of Achievement, you must receive a “Satisfactory” evaluation for each of the assigned Case Studies, which will be based on your demonstration of a reasonable effort in your answers. If a student receives more than one “Unsatisfactory” or “Not Submitted” evaluation in a Group Study course, the student will be withdrawn from the course. No refunds will be given. The student may re-enrol in the particular level of the course the following year if they wish.

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The table below outlines some of the important features of these Case Studies, which you should familiarize yourself with before you begin.

CASE STUDY FEATURES Learning Objectives

•

At the beginning of each section, a set of learning objectives outline the learning that should be achieved upon completion

Timing

•

Indicates the approximate time you should spend preparing your answers

How to Approach the Case Study

•

Provides instruction on applying key learnings from topics covered in the eLearning Lessons Outlines the sources you should consult in preparing your answers

• Case Study

•

• • •

Situation: Outlines background information on the individual and/or business in questions, and all information related to the tax issues that must be addressed Part (a), (b), (c)… Includes questions for which you must prepare solutions in advance of your In-Person Lesson Additional Information: Builds upon the initial Situation by providing new details Followed by additional questions for which you must prepare solutions in advance of your In-Person Lesson

In-Person Lesson, Group Study Leader’s Checklist In addition to the tracked assessment of your answers described above, you will also receive untracked qualitative feedback that is meant for your development only. You will receive feedback based on how you followed each component of the Tax Research Process, how well your findings were communicated, and the overall quality of your answers. Your submission will be evaluated based on the Group Study Leader’s checklist below:

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Case Study Solutions You will receive the corresponding Case Study Solutions once you’ve attended the In-Person lessons (Note: the Solutions will be locked and hidden from your LMS course content browser until your attendance is confirmed as present in the Grade Book). The solutions are presented in a format that mirrors the Research Process. Your case study solutions should also mirror this format. The table below outlines some of the important features of the Case Study solutions, which you should familiarize yourself with before you begin.

CASE STUDY SOLUTION FEATURES Establishing the Facts

•

Outlines the relevant facts presented in the scenario

Determining the Questions or Issues

•

Identifies the questions you are required to answer

Investigating Sources of Tax Research

•

Provides a list and description of relevant sources for each issue that must be addressed

Evaluating the Sources and Reaching a Conclusion

•

Outlines how you should: − −

Apply the relevant sources to address the issue and answer the required question Reach a conclusion based on the facts of the case and the relevant sources

APPLYING IN-DEPTH TAX CONCEPTS ON-THE-JOB After you complete each In-Person Lesson, you should work with your Performance Manager to apply the knowledge you’ve learned in the workplace. Identify situations where you can address tax issues that relate to the content you have covered in your eLearning Lessons and In-Person Lessons. You can also work with your Performance Manager to discuss some real-life client scenarios that relate to the concepts you have been learning.

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In-Residence Lectures and Tutorials In-Residence is made up of lectures and tutorials in a one-week session held following Group Study. This component of the course is held regionally (B.C., Ontario or Quebec depending on your location). CPA Canada will make efforts to accommodate location requests of local students.

IN-RESIDENCE LECTURES Students will attend technical lectures facilitated by In-Residence Lecturers. All lecture materials will be accessible to students prior to the lectures via the LMS. These materials include PowerPoint slides and corresponding notes. IN-RESIDENCE TUTORIALS Students will attend a classroom session with an assigned group and In-Residence Tutor. The purpose of the tutorial is to work through and discuss assigned problems and case studies. Tutorial Problems and Comprehensive Case Studies are made available to students via the LMS prior to In-Residence. After each tutorial session, the In-Residence Tutor will distribute a hard-copy of the tutorial problem/case study solution. Soft-copies will be made available on the LMS once all In-Residence sessions for the year have completed. The solutions to all problems/case studies will mirror the Research Process.

Applying In-Depth Tax Concepts On-the-Job Throughout the In-Depth Tax Course, you should work with your Performance Manager to apply the knowledge you are learning from the Course into the workplace. Identify situations where you can address tax issues that relate to the content you have covered in your eLearning Lessons, In-Person and In-Residence sessions. You can also work with your Performance Manager to discuss some reallife client scenarios that relate to the concepts you have been learning.

ÂŠ2014 Chartered Professional Accountants of Canada. CONFIDENTIAL : For Training Purposes Only

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CONTINUING EDUCATION LEARNING MANAGEMENT SYSTEM The Continuing Education Learning Management System (LMS) is the online delivery system licensed by CPA Canada for delivery of this course (among other courses). The LMS is the repository for all InDepth Tax Course materials and the communication forum for CPA Canada and the students, as well amongst the students and amongst the students and their Group Study Leader. The LMS will also be used to track students’ progress throughout the Course. For detailed instructions on navigating the LMS, please refer to the Navigating the Learning Management System presentation, which can be found in the Content Browser on the In-Depth Tax Course home page on the LMS.

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TROUBLESHOOTING THE LMS For an overview of the navigational features of the eLearning Modules, please access the ‘Help’ tab, located in the top right corner of any of the module screens. For assistance and technical support for troubleshooting technical issues with the LMS contact: Liza Cruz, Program Administrator – Tax Education at 416-204-3378 or taxcourses@cpacanada.ca.

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YEAR 1 COURSE COMPONENTS Topics and Competencies The table below outlines the topics and competencies aligned to each component of Year 1 of the course. You should use these topics and competencies to track your progress and assess your own learning as you complete each of the course components. INDIVIDUAL TAXATION

eLearning Lesson 1

TOPICS

COMPETENCIES

•

Residency of a taxpayer, including rules for determination and issues involved for arrival to and departure from Canada Employment, shareholder and other income issues for individuals, including taxation of benefits, employment expenses, and determination of employment status for tax Sources of income

•

• • • •

•

In-Person Lesson 1

•

Employment, shareholder and other income issues for individuals, including taxation of benefits, employment expenses, and determination of employment status for tax

• •

Determine the residency of an individual Identify the tax consequences for emigration and immigration of an individual from a Canadian tax standpoint Identify whether an individual is employed or self-employed and understand the tax implications of personal services corporations Identify sources of income Compute employment income Differentiate between taxable benefits for an employee Apply the rules for the taxation of pension income, rules for deferred income plans and taxfree savings accounts Understand the benefits and limitations of other retirement alternatives Determine taxable benefits for an employee Apply the rules for the taxation of pension income, deferred income plans, and TFSAs

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•

Personal tax planning and retirement issues

•

Manage issues surrounding separation and divorce

BUSINESS AND PROPERTY TAXATION

eLearning Lesson 2

TOPICS

COMPETENCIES

•

Residency of a corporate taxpayer Taxation of business and property income Relevance of GAAP for tax and basic rules of tax Nature of payments received (capital versus income) Current expenditures versus capital expenditures Prepaid expenses Income inclusion requirements and deductibility of reserves Allowable and non-deductible expenditures

•

Taxation of business and property income Income inclusion requirements and deductibility of reserves Allowable and non-deductible expenditures Computation of net income for a self-employed individual Foreign exchange issues Integration

•

• • • • • • •

In-Person Lesson 2

• • • • • •

•

• • • •

• •

Determine residency of a taxpayer (corporation) Compute income for tax purposes for a business, including the relevance of GAAP and specific inclusions and deductions under the ITA

Compute income for tax purposes for a business, including the relevance of GAAP and specific inclusions and deductions under the ITA Differentiate business and property income Compute the tax cost for land and building under development Manage issues facing land developers Apply calendar year-end rules and recommend planning around these rules Identify tax issues that apply to professionals Determine when income attribution applies

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•

Understand GRIP/LRIP rules

CAPITAL GAINS TOPICS

COMPETENCIES

eLearning Lesson 3

•

Capital gains and losses.

•

Recognize and provide advice on issues such as income versus capital, loss carryover rules, capital gains reserves, ACB calculation rules, replacement property rules, and superficial loss and loss denial rules

In-Person Lesson 3

•

Capital gains and losses.

•

Recognize and provide advice on issues such as income versus capital, loss carryover rules, capital gains reserves, ACB calculation rules, replacement property rules Apply elections such as principal residence designations, change in use elections, elections to treat ECP gains as capital gains, property rules, determination of ABILs, and superficial loss and loss denial rules Differentiate ECP gains from capital gains Manage issues associated with CGE and other related planning

•

• •

IN-RESIDENCE TOPICS

COMPETENCIES

•

• • •

Statutory interpretation and case law analysis Losses Acquisition of control Corporate taxation

•

Understand the legal aspects of corporate entities Understand the concept of control of a corporation, including the meaning of control and the

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• • • • • •

Shareholder taxation Compensation planning Interest deductibility Taxation of partnerships and professionals Taxation of trusts Tax administration

• •

•

acquisition of control rules Apply the concepts of relationships, including affiliation, related and association Apply various concepts of corporate tax, including loss utilization strategies and interest deductibility Understand shareholder taxation issues, including compensation planning, shareholder loans and benefits and shareholder agreements Apply the rules for the taxation of trusts, including differentiate between various types of trusts and the computation and allocation of trust income Apply the rules for the taxation of partnerships, including computation of partnership income, income allocation issues and tax planning with partnerships

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YEAR 2 COURSE COMPONENTS Topics and Competencies The table below outlines the topics and competencies aligned to each component of Year 2 of the course. You should use these topics and competencies to track your progress and assess your own learning as you complete each of the course components. STOP LOSS RULES AND TRANSFERS OF PROPERTY TOPICS

COMPETENCIES

eLearning Lesson 1

•

Transfers of Property

•

Understand the mechanics of the stop loss rules, non-arm’s length transfers and transfers under Section 85

In-Person Lesson 1

•

Transfers of Property

•

Apply the stop loss rules Apply the rules for the taxation of non-arm’s length transfers and transfers under Section 85

•

CAPITAL REORGANIZATIONS AND SALE OF ASSETS VS. SHARES

eLearning Lesson 2

TOPICS

COMPETENCIES

•

Corporate Reorganizations

•

In-Person Lesson 2

•

Corporate Reorganizations

• •

Understand the concepts and mechanics of capital reorganizations under Sections 51, 51.1 and 86 Understand the analysis of a sale of assets vs. shares Apply the rules applicable to capital reorganizations under Sections 51, 51.1 and 86 Determine the tax implication of a sale of assets vs. shares

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SURPLUS STRIPPING AND CORPORTATE FINANCE ISSUES

eLearning Lesson 3

TOPICS

COMPETENCIES

•

Corporate Reorganizations

•

In-Person Lesson 3

•

Corporate Reorganizations

•

Understand the concepts and mechanics of the acquisition and cancellation of corporate shares, non-arm’s length sale of share by non-residents, and surplus stripping Identify the tax issues of preferred share financing Determine the tax consequences of the acquisition and cancellation of corporate shares, non-arm’s length sale of share by nonresidents, and surplus stripping

ACCOUNTING FOR INCOME TAXES

eLearning Lesson 4

TOPICS

COMPETENCIES

•

Financial reporting and GAAP (IFRS and ASPE)

Understand the rules for accounting for income taxes in Canada under IFRS and ASPE, including recognition, measurement, valuation, presentation and disclosure requirements

IN-RESIDENCE TOPICS

COMPETENCIES

• • • • • • • •

•

Corporate reorganizations Business combinations Transfers under Section 85 Section 86/51 reorganizations Capital gains stripping Post-mortem planning Estate freezes International taxation –

• •

Understand the various ways to undertake a corporate reorganization Apply of the rules applicable to a transfer under Section 85 Understand the income tax and non-income tax implications of business combinations (i.e. wind-

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• •

introductory Cross-border financing GAAR

•

• •

•

up and amalgamation) Differentiate between exchange transactions under Sections 51 and 86 Understand the tax implications of capital gains stripping Determine the tax implications that arise on the death of an individual and identify postmortem planning opportunities Recognition of international tax issues, including various forms of inbound investments and cross border financing issues Understand the structure of GAAR legislation

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YEAR 3 COURSE COMPONENTS Topics and Competencies The table below outlines the topics and competencies aligned to each component of Year 3 of the course. You should use these topics and competencies to track your progress and assess your own learning as you complete each of the course components. IMMIGRATION AND EMIGRATION

eLearning Lesson 1

TOPICS

COMPETENCIES

•

• •

Corporate immigration and emigration Canadian individual residency rules - Refresher Tax issues impacting internationally mobile employees: - Immigrants to Canada - Employees leaving Canada - Canadian resident employees working outside Canada - Non-residents working in Canada

•

Determine the Canadian tax consequences for emigration and immigration of an individual or corporation Understand expatriate and nonresident personal taxation issues including employee migration and residency, foreign tax credits for individuals, tax equalization and hypothetical tax planning, tax issues for employees moving to the U.S., and Sections 216 and 217 issues

TRANSFER PRICING

eLearning Lesson 2

TOPICS

COMPETENCIES

• •

•

• •

Section 247 Transfer pricing analysis and methodologies Administrative guidance on transfer pricing Dispute resolution and Competent Authority process

Understand the basic rules on transfer pricing, key administrative publications and guidance, dispute resolution process, and key jurisprudence

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In-Depth Tax Course

U.S. TAX FOR THE CANADIAN PRACTITIONER

eLearning Lesson 3

TOPICS

COMPETENCIES

•

U.S. personal and corporate taxation systems Canadian individuals living in the U.S. and U.S. citizens living in Canada

• •

Understand basic concepts of the U.S. personal and corporate taxation systems, including tax computations and filing obligations Identify when an individual become resident for U.S. tax purposes Understand the tax implications of Canadian individuals living in the U.S. and U.S. citizens living in Canada

SCIENTIFIC RESEARCH AND EXPERIMENTAL DEVELOPMENT (SR&ED)

eLearning Lesson 4

TOPICS

COMPETENCIES

• • •

•

SR&ED program in Canada SR&ED eligibility requirements SR&ED claims process

• •

Understand the benefits of the federal and provincial SR&ED programs (deductions, tax credits, etc.) Identify eligibly SR&ED activities, both scientific/technological and financial Understand the SR&ED filing requirements and audit and review process

SAFE INCOME AND SAFE INCOME ON HAND

eLearning Lesson 5

TOPICS

COMPETENCIES

•

• • •

Capital gains stripping and Section 55 Calculations of safe income and safe income on hand Safe income planning Share reorganizations and the impact on safe income

•

Understand various methods of effectively achieving capital gains strips Understand the concept of safe income and common adjustments in calculating Differentiate between safe income and safe income on hand

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In-Depth Tax Course

•

• •

Understand the allocation of safe income to shares and other financial instruments Differentiate between safe income planning techniques Understand how safe income attributable to shares is impacted by various types of reorganizations

INTRODUCTION TO INDIRECT TAX ISSUES

eLearning Lesson 6

TOPICS

COMPETENCIES

• • • • •

•

Basic concepts of indirect tax Related party transactions Sales of a business Corporate reorganizations Imports and exports

•

Recognize the different types of indirect taxes applicable in Canada and their implications Understand indirect tax registration and compliance obligations Understand the indirect tax implications of related party transactions, sales of a business and corporate reorganizations Understand the indirect tax implications and reporting requirements of imported and exported goods and services

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In-Depth Tax Course

IN-RESIDENCE TOPICS

COMPETENCIES

• •

•

• • • • •

Butterfly reorganizations Purchase and sale of a business – advanced Partnership formation, dissolution and reorganization Debt forgiveness rules Tax-loss planning Foreign affiliates Foreign accrual property income

•

• • •

Understand the rules applicable to a reorganization under paragraph 55(3)(b) Understand the purchase and sale of a business considerations for both the vendor and purchaser Apply to rules applicable to the formation, dissolution and reorganization of a partnership Apply the debt forgiveness rules Apply tax loss rules and planning around these rules Understand the rules around foreign affiliates and foreign accrual property income

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In-Depth Tax Course

Year 3 Project The Year 3 Project is a cumulative assignment that you will complete in your final year of the In-Depth Tax Course. The following is a high level description of the project. As you progress through the course, you will receive more information about this project. PROJECT OBJECTIVES The objectives of the Year 3 Project are to demonstrate that you: • • • •

understand the subject chosen and its relevance to the course and to taxation, can assess and analyze aspects of the subject, can provide original insights, observations and recommendations, and can communicate findings in written format in a professional manner.

PROJECT DESCRIPTION The project is a group assignment that ties in all the concepts and skills that you have developed over the In-Depth Tax Course. The project is expected to require approximately 25-30 hours of each project member’s time. At the beginning of Group Study 2, you will be asked to start thinking about the Year 3 Project. Students will be asked to form groups of three to work on the project with. You are not required to form groups only with members from the same firm or employer. All students must inform CPA Canada of their respective groups by the summer of Year 2 of the course. All groups will be assigned to a Project Supervisor. The Project Supervisor is responsible for: • • • •

Meeting with your group to discuss and provide feedback on the group’s project proposal. Evaluating and approving your group’s project proposal. Responding to a reasonable number of queries and providing guidance to you and your group members throughout the project Evaluating your group’s final project submission.

CPA Canada will inform students of the project format at the beginning of Group Study 2. The project format could include: • •

Writing a formal tax technical paper on an income tax topic of the students’ choice Preparing a Comprehensive Case Study Problem and Solution for the In-Depth Tax Program

In October of Year 3 of the In-Depth Tax Course, you and your group must submit your project proposal your Project Supervisor, who will evaluate it as “Satisfactory” or “Unsatisfactory”. If a student does not receive an assessment of “Satisfactory” on the project proposal, he/she will have an opportunity to discuss the deficiencies with their Project Supervisor and revise and resubmit an amended proposal to their supervisor by the end of November of that year

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In-Depth Tax Course

PROJECT SUBMISSION AND EVALUATION Final projects must be submitted to your Project Supervisor by February of Year 3 of the In-Depth Course. Your Project Supervisor will assess whether your project was completed at a “Satisfactory” level. This assessment must be completed by end of May of Year 3 and will be recorded in the LMS so that you, your Performance Manager and CPA Canada will have a record of your submission. Your Project must be deemed “Satisfactory” in order to qualify for the Certificate of Achievement at the end of the 3-year In-Depth Tax Course. If a student does not receive an assessment of “Satisfactory” on the Year 3 Project, he/she will have an opportunity to discuss the Project’s deficiencies with their Project Supervisor and revise and resubmit an amended project to their supervisor by the end of June of that year.

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