ACCT 3231: Income Taxation 2
Building on ACCT 3221: Income Taxation 1, students examine the taxation of deferred income plans, corporations, partnerships, trusts, and estates. Topics include in-depth coverage of taxable capital gains and losses; retirement savings and other special income arrangements; taxable income and tax payable for corporations; the taxation of corporate investment income; other issues in corporate taxation; corporate taxation and management decisions; taxation of partnerships; taxation of trusts and estate planning; and rollovers under Section 85.
Learning outcomes
- Determine the gains and losses realized on the disposition of capital assets.
- Evaluate the deferred income plans available to Canadians to fund their education and retirement or for general wealth accumulation.
- Calculate the net income, taxable income, and taxes payable of a corporation.
- Demonstrate how corporate investment income is taxed.
- Analyze corporate taxation issues involving the acquisition of control, association rules, investment tax credits, paid-up capital, and distribution of corporate surpluses.
- Explain how a corporation is used to reduce taxes, defer taxes, and facilitate income splitting.
- Compute a partnership’s income for tax purposes, and allocate this income to its partners.
- Explain how different types of trusts are taxed and how they are used for estate planning.
- Identify the major provisions of Section 85 rollovers and other rollover provisions affecting corporations, partnerships, and trusts
Course topics
- Module 1: Introduction and Review
- Module 2: Capital Gains and Losses\
- Module 3: Retirement Savings and Other Special Income Arrangements
- Module 4: Taxable Income and Tax Payable for Corporations
- Module 5: Taxation of Corporate Investment Income
- Module 6: Other Issues in Corporate Taxation
- Module 7: Corporate Taxation and Management Decisions
- Module 8: Partnerships
- Module 9: Trusts and Estate Planning
- Module 10: Section 85 Rollovers
Required text and materials
The following textbook bundle (ISBN: 978-0-13-532943-6 which includes access to the publisher’s MyLab companion website) would have been purchased in ACCT 3221. Students who did not take ACCT 3221 and/or don't already own the required textbooks, will need to purchase it. To do so, please contact Enrolment Services at student@tru.ca or 1.800.663.9711 (toll-free in Canada), 250.852.7000 (Kamloops, BC), and 1.250.852.7000 (International).
- Donnell, G. (2025). Byrd and Chen's Canadian Tax Principles (2024–2025 ed., Vol. I). Pearson.
- Donnell, G. (2025). Byrd and Chen's Canadian Tax Principles (2024–2025 ed., Vol. II). Pearson.
- Donnell, G. (2025). Byrd and Chen's Canadian Tax Principles Study Guide (2024–2025 ed.). Pearson.
Additional requirements
- A financial calculator
- Excel software is strongly recommended.
Note: Microsoft Office 365, which includes Word, Excel, PowerPoint, Outlook, and other software, is available free of charge to TRU students.
Assessments
Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact exams@tru.ca with any questions about this.
To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course and 50% or higher or higher on the mandatory final exam.
| Assignment 1: Modules 1 to 3 | 12% |
| Quiz 1: Modules 4 to 5 | 11% |
| Quiz 2: Modules 6 to 7 | 11% |
| Assignment 2: Modules 8 to 10 | 16% |
| Mandatory Final Exam | 50% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
