(3 credits) 3 hours lecture
This course is designed to help financial planners build the knowledge and judgment necessary to guide clients in managing their business and financial assets. The course examines how various business forms (including proprietorships, partnerships, and corporations) are structured and taxed, and how they can be used to generate wealth for the owner/manager or the passive investor. It explores the taxation of investment income, including property income, interest, dividends and capital gains, and reviews the main deductions available for various income sources. This is followed by a discussion of how an individual can make use of the different tax strategies available to maximize his or her wealth accumulation. Students have the opportunity to write the Income Tax Planning exam of the Canadian Institute of Financial Planning, one of four that lead towards the Certified Financial Planner (CFP) designation.