As much as people tend to think otherwise, memory is not infallible. Fortunately, tax professionals have the opportunity to relearn foundational material in the context of new changes (and we know how often the government loves to change things). This two-day seminar in corporate tax updates technical and tax planning issues for corporations, thus providing practitioners with a refresher on these topics. Although the seminar reviews taxation for public and private corporations, the session primary focuses on the taxation of private companies. You will receive detailed course materials covering a broad range of corporate tax topics, which serve as an invaluable future reference. In addition to receiving presentation material, you will work through case studies covering a wide range of corporate tax issues, collaborate with their peers, and share issues impacting their clients.

This seminar not only provides a review of issues relating to corporate taxpayers but also expands your knowledge about recent changes. Participants working with these taxpayers require an understanding of corporate tax legislation and its proper application.

Topics include:

· The Income Tax Act (ITA) as it relates to corporations

· Determination of residency

· Calculation of corporate taxes

· Common definitions under the ITA that impact a corporate taxpayer, including related parties, affiliated parties, and associated corporations

· Various sources of income, including active business income, investment income, specified investment business income, and personal service business income

· Uncommon income items and deductions

· Commonly used corporate reorganization provisions: the use of the Section 85 rollover; Section 86 capital reorganization; Section 87 amalgamation; Section 88 wind-up

· Section 84.1 and Section 55(2) anti-avoidance provisions

· Corporate attribution

· Loss utilization

· Owner/manager remuneration planning

· Estate planning

· Issues for buy-sell agreements as well as the purchase and sale of business

· Acquisition of control

· Debt forgiveness

Learning Objectives

By the end of this course, participants should be able to:

· Evaluate residency of a corporation and its liability for taxes in Canada

· Explain the calculation of corporate taxes payable

· Explain various corporate reorganization provisions

· Assist clients with various tax planning issues including but not limited to, remuneration planning, estate planning, and purchase and sale of business

Prerequisite Knowledge

Individuals registering for this seminar require the following knowledge:

· Corporate Tax – Compliance & Planning in T2 Preparation

· Working experience with the preparation of corporate tax returns

· Moderate tax planning experience

Applicable for:

This seminar will particularly benefit practitioners involved in corporate tax matters for private corporations and that desire to expand or refresh their knowledge of corporate tax.

What to Expect

· An email will be sent from CPA Manitoba to the participant within two business days of registration. The email will include information on how to access the course along with the necessary login credentials.

· Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.

· This course is designed for participants to view while following along with the course material provided.

· This self-study course allows the user to save their progress and return to continue later.

Registration is for this course is open until August 31.2023 and should be completed by September 30, 2023, after this time, access to the course will no longer be available.

To receive a certificate, participants must complete a quiz at the end of the course. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this you will no longer have access to the quiz.

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