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Ethics for Tax Practitioners
1.0 - INTRODUCTION TO SEMINAR & ADMINISTRATION
Introduction to Ethics for Tax Practitioners (5:47)
DOWNLOAD NOTES - Administration - Certificates - Refunds - Housekeeping (6:25)
1.1 - ETHICS WHEN DEALING WITH TAX PREPARATION & ADVISORY
Ethics and the tax preparer - Definitions and and a scenario to illustrate (9:12)
Overview of the framework for ethical tax practices - CRA's Third Party Penalties (7:31)
Example of a common situation with CRA Collections and client balances (6:24)
CRA's Third Party Penalties as a framework and guide to study ethics (10:06)
Understanding the Planner vs Preparer penalty and how you can get caught under the TPP (4:39)
Our approach to anaylzing various scenarios and - approach next section (2:46)
1.2 - TAX PRACTICE & ETHICS SCENARIOS
Scenario 1 - Client provides data that seems reasonable but CRA discovers it isn't (6:25)
Scenario 2 - Accountant uses previous accountant statements that were misstated (6:33)
Scenario 3 - The April 30 squeeze resulting in a material error on the tax return (5:38)
Scenario 3a - Curveball - What if we discover an error that wasn't caught by CRA (3:13)
Scenario 4 - Declaring a bonus to get the corporate profit down to the SBD limit (5:39)
Scenario 4a - What if we spread the bonuses out to various family members to reduce tax? (7:26)
Scenario 5 - Donations with no receipts and low income (7:48)
Scenario 6 - No records and methodology on claiming GST input tax credits (6:02)
Scenario 7 - Lifestyle vs reported income when filing personal returns (5:26)
Scenario 8 - Transfer payments and royalties with non-resident corporations (6:11)
Scenario 9 - Accountant preparing returns with tax shelter deductions and court ruling (8:00)
Scenario 10 - Accountant preparing SRED claim and fee based on total tax credit (6:10)
1.3 - GENERAL CONSIDERATIONS & CONCLUSION
What can the CRA do to preparers and some practical guidance on issues covered in this course (6:56)
How do you plan on dealing with the CRA? - Ethical behaviour applies to your approach (3:35)
Thank you and conclusion (1:21)
Scenario 10 - Accountant preparing SRED claim and fee based on total tax credit
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