Comprehensive Personal Tax Training

Over 20 Hours of Expert Video Instruction

Regular Price: $399. Current Promotion: $229

(all sales taxes included in this price)

If you purchase this course you will receive lifetime access to all future updates at no additional cost. This course is updated annually to reflect the latest tax laws and guidelines. This course can also part of our Annual Membership Plans.

Updated for 2023 T1 Tax Returns

Earn 20 Verifiable CPD Hours for CPA Designation

Our course offers a valuable resource for personal tax preparation throughout the year. The instructional approach remains relevant regardless of the tax year, ensuring you are always equipped with the knowledge you need.

How the Course is Taught

Over 20 Hours of Content: Learn from a CPA CGA with over 20 years of experience and thousands of tax returns completed.

Practical, Real-World Examples: Gain insights into real-life tax scenarios you will encounter in practice.

Self-Paced Learning: No assignments, tests, or quizzes. Learn at your convenience with lifetime access to the material.

Bite-Sized Tutorials: Focus on the tutorials that apply to your situation or client needs, and revisit content as necessary.

Evergreen Content: The course remains a valuable resource regardless of tax year changes, with annual updates included.

Comprehensive Coverage: Understand the Canadian tax system, T1 tax return forms, schedules, T-slips, income types, deductions, credits, and business income.


CPA & Business Students

Working towards your CPA designation? This course is intended to fill in the gap between the tedious theory and the real world . . This course helps you become job ready so that you’ll be able to impress those managers and partners at the firm you work at by hitting the ground running with personal T1 returns.

Tax Practice

If you are already a professional and perhaps looking to change your career and start preparing tax returns, then this course will serve as a good refresher and provide necessary guidance and skill to make the jump. Canadian Tax Academy courses are designed and developed by professional accountants with professionals in mind.

Bookkeepers

If you are a bookkeeper, you already have your hand on the pulse of your clients. You probably deal with a number of accountants on year-end personal tax planning and work. Why not build your own “T1 Chops” and either do the returns yourself, or at the very least be able to keep up with those accountants and know what’s going on?

Unlock the Secrets to Effortless Tax Returns

Preparing personal tax returns can seem overwhelming, but it doesn't have to be. The complexity of Canadian tax laws can be daunting, yet there's a solution that makes it manageable and straightforward. Did you know that by mastering just 20% of Canadian tax law, you can effectively handle 80% of personal tax returns? Most Canadians face relatively simple tax situations, and with the Canadian Tax Academy, you can confidently prepare your own returns or those for your family and clients.

Why Choose the Canadian Tax Academy?

Ease Your Tax Preparation: With our course, you'll gain the knowledge and skills to tackle the majority of tax returns with ease. Say goodbye to the stress and confusion of tax season.

Expert Instruction: Learn directly from a seasoned CPA CGA with over 20 years of experience and thousands of tax returns completed. You'll benefit from real-world examples and practical advice that you can apply immediately.

Comprehensive Learning: Our course covers everything you need to know, ensuring you're well-equipped to handle various tax situations. Whether you're a beginner or looking to refresh your skills, this course is perfect for you.

Why It's Important to Learn From the Experts:

Complexity and Confusion: Tax laws can be intricate, but our course breaks down the complexities into understandable segments, making it easier for you to grasp.

Fear of Making Mistakes: Mistakes in tax preparation can be costly. Our step-by-step tutorials and real-world examples help you avoid common pitfalls and ensure accuracy.

Time-Consuming Process: Tax preparation doesn't have to take over your life. Our efficient learning modules and practical tips streamline the process, saving you time and effort.


THE CANADIAN TAX SYSTEM & T1 FORMS/SCHEDULES

Your first step will be to understand how the Canadian tax system works. Who needs to file, due dates, Notice of Assessments, Notice of Reassessments. You'll have tax pro knowledge in no time

Best of all, you'll never be caught off-guard with a form or slip that you don't understand or never seen. We update the course every year to cover any new forms & slips

T777_statement_of_employment_expenses


EMPLOYMENT INCOME & EXPENSES

Dive into our expertly designed module, where you'll master the intricacies of the T2200 Declaration of Conditions of Employment and the T777 Statement of Employment Expenses.

WHAT YOU WILL LEARN

Decoding the T2200 Form: Learn how to interpret and complete the T2200 form, Understand the criteria for employees to deduct employment expenses

Mastering the T777 Form: Get step-by-step instructions on how to fill out the T777 form. Discover how to claim deductions for employment expenses, from home office costs to travel expenses to ensure deductions are maximized.

Eligibility Criteria and Common Deductions: Identify which employment expenses are deductible and under what conditions. Explore common deductions such as home office expenses, vehicle expenses, and supplies, ensuring you don't miss out on potential savings or claim expenses that will be disallowed by the Canada Revenue Agency (CRA)

Investment Income
Investment Income

Optimize your investment returns with our module on Investment Income Reporting. Learn to accurately report interest income, dividends, and deductible investment expenses. Understand tax implications and compliance requirements to maximize your savings. Gain expert insights to manage your investment income efficiently.

Capital Gains & Losses

Master the essentials of calculating capital gains and losses with our comprehensive module. Learn to determine the cost and adjusted cost base, report transactions accurately. We'll show you how to carry capital losses forwards and backwards. You'll also understand how to calculate the cost base of mutual fund holdings.

Sale of Principal Residence

Navigate the complexities of selling a home with our tutorials on claiming the Principal Residence Exemption. Learn to calculate and claim the exemption, understand eligibility criteria, and minimize tax liability. You'll also understand which properties qualify as a principal residence and which don't. CRA is now reviewing PRE claims.

RENTAL INCOME & DEDUCTIONS

Understanding Rental Income: Gain a comprehensive understanding of rental income. Learn to accurately report various types of rental income, including renting a portion of a principal residence, a vacation residence that is rented out.

Identifying Deductible Expenses: Discover the wide range of deductible expenses to reduce taxable rental income. From mortgage interest and property taxes to maintenance and repairs, we cover all eligible expenses.

Navigating the T776 Form: Receive step-by-step guidance on completing the T776 Statement of Real Estate Rentals. Understand each section of the form and ensure you capture all relevant information to maximize your deductions.

Claiming Capital Cost Allowance (CCA): Delve into the details of Capital Cost Allowance (CCA) and how it applies to your rental property. Learn to calculate and claim CCA to depreciate the value of your property and reduce your tax burden.

Managing Multiple Properties: Explore strategies for managing and reporting income and expenses from multiple rental properties. Learn how to consolidate your records and report them accurately on your tax return.


Allowable Deductions

Unlock the skills that allow you to maximize tax deductions with our comprehensive module. Learn to identify and claim eligible expenses, from RRSP, moving and child care expenses. Gain expert tips and avoid common pitfalls and avoid missing out on lucrative deductions to reduce your taxable income

Personal Tax Credits

Discover how to maximize tax savings with our module on tax credits. Learn about available credits, including spousal and dependant credits, the tuition credit, medical expense tax credit, and many more. You'll also understand how to claim them effectively. Gain insider tips to reduce your tax liability and boost your refunds.

Foreign Income Reporting

Master the complexities of foreign income reporting with our T1135 and foreign tax credits tutorials. Learn to accurately report foreign assets, understand compliance requirements, and avoid questions and harsh penalties. Gain expert insights on completing the T1135 form and ensure full compliance with CRA regulations.


BUSINESS INCOME & DEDUCTIONS

Gain a thorough understanding of what constitutes business income. Learn to accurately report various types of income, including sales, services, and other business-related earnings.

Identifying Deductible Expenses: Discover the wide range of deductible business expenses reduce taxable income. From office supplies and salaries to marketing and travel expenses, we cover all eligible deductions.

Record-Keeping Best Practices: Learn the importance of meticulous record-keeping and the documentation required to support your business income and deductions. Get tips on organizing your receipts, invoices, and financial records for seamless tax filing.

Navigating the T2125 Form: Receive step-by-step guidance on completing the T2125 Statement of Business or Professional Activities. Understand each section of the form and ensure you capture all relevant information to maximize your deductions.

Managing Capital Expenses: Delve into the details of capital expenses and how they differ from current expenses. Learn to calculate and claim Capital Cost Allowance (CCA) to depreciate the value of your business assets and reduce your tax burden.

Handling Business Losses: Explore strategies for managing and reporting business losses. Learn how to carry forward or carry back losses to offset income in other years and reduce your overall tax liability.

Expert Tips and Common Pitfalls: Get insider tips on avoiding common mistakes and pitfalls when reporting business income and claiming deductions. Ensure your tax filings are compliant with CRA regulations and avoid potential audits.

Frequently Asked Questions

When does the course start and finish?

The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish. There are no physical classes to attend and you can access the content at any time. If you ever forget a concept or just want a refresher, all you have to do is log in and click on the tutorials to watch them again!

What if I am unhappy with the course?

We would never want you to be unhappy! If you are unsatisfied with your purchase, contact us in the first 14 days and we will give you a full refund. No questions asked. However, if a certificate of completion is requested and granted, refunds will not be issued even if it is within the 14 day period. (i.e. you cannot complete the course, be granted professional CPD hours and then request a refund).

How long do I have access to the course?

Your access depends on whether you purchase this course outright, or whether you are a member of one of your All Access plans. If you directly purchase this course, you have unlimited access to it for the lifetime of the course, including all future updates - across any and all devices you own - at no additional cost.

If you are a member of one of our Annual Membership Plans, then you will have access to the most current and up-to-date version of this course for the duration of your membership.

How often is the course updated?

The course is updated on an annual basis to keep up with changing tax legislation. I also update the course with any new budget information that is important to the course content throughout the year when applicable.

Once you sign up for the course, you will have permanent access to all the tutorials, including updates. Updates are posted by the end of January each year for the current year's T1 tax season.

How is the course taught?

The course is presented though a series of bite-sized tutorials. This allows students to do 2 things. First, they can learn the concepts at their own pace. Second, they can come back and easily find a tutorial when they need a refresher. This also allows the instructor to easily update the course when there are changes.

Are there any tests, quizzes or exams?

No. This is not a certification course. It is for your own self-development and will be a valuable asset in your tax arsenal not only now, but in the future as well. There are no tests or exams to pass.

Is this course eligible for PD credits? Do you issue certificates?

Yes, a certificate of completion will be automatically issued to you once the course is completed. The system will issue a certificate once you have watched all the tutorials. It will be available in the courses dashboard and emailed to you for download (provided you have opted-in to have emails from Canadian Tax Academy)

Curriculum (Click the Arrow to See All the Tutorials)


  COURSE ADMINISTRATION, GUIDANCE & ADVICE
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  MODULE 1 - THE CANADIAN TAX SYSTEM
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  MODULE 2 - TAX SCHEDULES & INFORMATION SLIPS
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  MODULE 3 - EMPLOYMENT INCOME & DEDUCTIONS
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  MODULE 4 - INVESTMENT INCOME & DEDUCTIONS
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  MODULE 5 - RENTAL INCOME & DEDUCTIONS
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  MODULE 6 - TAX DEDUCTIONS
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  MODULE 7 - TAX CREDITS
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  MODULE 8 - BUSINESS INCOME - T2125
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  CONCLUSION & NEXT STEPS
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Enroll Now for Immediate Access