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									CMA Tax III - Spring 2009
   o Course Schedule

 Week                    Modules                         Readings              Due Dates

Week 1    Module 1: Owner-Manager                Ch. 13 ¶13,000-¶13,355        May 15
          Remuneration Issues

Week 2    Module 2: Corporate Attribution,       Ch. 13 ¶13,360-¶13,555        May 22
          GAAR, and Death                        Ch. 8 ¶8,300
                                                 Ch. 14 ¶14,340-¶14,360

Week 3    Module 3: Corporate Distributions      Ch. 15 ¶15,000-¶15,310        May 29

Week 4    Module 4: Sale of a Business -         Ch. 15 (review)               June 5
          Assets vs. Shares                      Ch. 16 ¶16,000-¶16,190

Week 5    Mid-Term Exam (40%)                                                  June 19

Week 6    Module 5: Section 85 Rollovers         Ch. 15 ¶15,320-¶15,400        June 26
                                                 Ch. 16 (review)

Week 7    Module 6: Planning Traps Using         Ch. 16 ¶16,200-¶16,255        July 3
          Section 85 - Stripping                 Ch. 17 ¶17,000-¶17,030

Week 8    Module 7: Capital Reorganization       Ch. 16 (review)               July 10
                                                 Ch. 17 ¶17,040-¶17,140

Week 9    Module 8: Partnerships and Trust       Ch. 17 ¶17,200-¶17,340        July 17
                                                 Ch. 18 ¶18,000-¶18,310

Week 10   Module 9: Comprehensive Tax            Ch. 18 (review)               July 24
          Planning

Week 11 Final Exam (50%)                                                       August 7

     Team and class contribution (10%), monitored weekly by instructor
            Mid-Term Exam (40%), 150 minutes, proctored by CMA.
              Final Exam (50%), 180 minutes, proctored by CMA.



   Mid-Term Exam                                                150 mins. 40%

   Final Exam                                                   180 mins. 50%


   o Mid-Term Exam


Description
The mid-term exam will cover Modules 1 to 4 inclusive.
It will be 150 minutes in length and is worth 40% of the final course grade.
Calculators and one copy of the Income Tax Act will be the only material allowed
for examinations. The Act may not be written in (annotated), nor may additional
pages be inserted. However, underlining, highlighting, and tabbing of sections are
permitted.

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NOTE: Additional information about the midterm and final exams, including dates,
locations, contacts, procedures, and examination rules will be posted to the Course
Announcements and the "Ask the Instructor" discussion board as it becomes
available
  o Final Exam

Description
The final exam will cover all course material, with an emphasis on Modules 5 to 9.
The final exam will be 180 minutes in length and is worth 50% of the final course
grade.
The exams in this course will consist of problems and cases similar to those
assigned for the weekly sessions. You can review by practice on problems in the
Supplemental Problem Set which can be found on the CD-ROM attached to the
textbook. Most of those problems were past exam questions with times indicated,
so by respecting those time limits, you can practice with them under exam-like
conditions. The solutions can be found on the CD-ROM and were the basis for the
marking guides when these questions were used as exam questions.
You can also review technical material by doing the Review Questions, Multiple-
Choice Questions, and Exercises in the textbook. Solutions to all of these are in an
Appendix at the end of the textbook.
Calculators and one copy of the Income Tax Act will be the only material allowed
for examinations. The Act may not be written in (annotated), nor may additional
pages be inserted. However, underlining, highlighting and tabbing of sections are
permitted.
NOTE: Additional information about the midterm and final exams, including dates,
locations, contacts, procedures, and examination rules will be posted to the Course
Announcements and the "Ask the Instructor" discussion board as it becomes
available

  o Course Modules
     Introduction

Study Plan for This Course
This course is based heavily on group work. In this course, you must partner
together with some of your classmates to form a small "tax consulting firm" (3-4
people). Group membership will be randomly assigned as the class list is compiled.
Your firm will be responsible for submitting a "weekly consulting report" to the
class discussion board. (It's really just your group's answers to the assigned
Assignment Questions, but "consulting report" sounds much more impressive.)
You will have to agree on common file formats that all of your group members can
use (e.g., Word 2003, Word 2007, Excel). The weekly "report" simply contains your
group's solutions to the module's assigned problems. You should strive for
consensus on all issues, but if necessary a minority report may be added.
Note that the problems you will be addressing as a group are all in the "Assignment
Problem" category at the end of chapters in the textbook. These are different from
the more specific "Exercise Problems" that are given in each chapter, with answers
included at the back of the book.
Your work during a any given module has three phases: individual work, small-
group work and whole-class work.


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 Individual Work Phase
        o SCAN: Look over the assigned readings for that module, including
           any references to tax law, so you know what topics will be covered.
           Note that topics with Exercise Problems attached to them are
           important, and may help you solve the Assignment Problems in
           your small groups.
        o READ IN DEPTH: Look at the Assignment Problems for the module,
           and review the text of the chapter again to read any related
           sections in more detail. If all group members do this, your
           teamwork will be much more efficient.
 Group Work Phase:
        o You and the other 'partners' of your 'consulting firm' prepare your
           reports (i.e., do the assigned problems, and post them to the class
           discussion board).
        o You can use the discussion board provided for your small group, or
           use email, etc. for your communications, as you prefer.
        o Make very sure to document findings in the Income Tax Act or in
           CRA publications and courts cases, the same way these publications
           are referenced in the textbook. Documentation is really important in
           taxation.
        o Your submission can be typed into text fields in discussion groups. It
           can also be in document form and can include more than one file
           (e.g., Word, Excel, PDF). You can even do the math by hand on
           paper and scan it, if you have a scanner. If you need to type out
           mathematical symbols, you will probably need to do so in some
           kind of file. The discussion board text fields are limited in their
           capacity to depict symbols.
        o Decide on a division of labour, e.g.,:
                a. First, everybody reads and takes notes
                b. Everybody compares note and discusses the answers
                c. Someone is appointed to write the first draft of the
                   answers (role rotates)
                d. It is read and revisions are discussed
                e. The draft is revised (by author or another member)
        o Post your group's answers to the Weekly Whole-Class discussion
           board for that module.
        o Whole-Class phase: Read and comment on other groups' reports,
           and discuss the relevant tax issues with the whole class and the
           instructor.
   For a module lasting seven days, the pattern might be:
   Phase I: Individual Preparation
   1.     Scan the assigned readings in the textbook to see what is there and how it is
          presented (Monday)
   2.     Read problems to determine what is required (Monday)

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          3.     Read in detail in the textbook what you need to address the problems (Monday to
                 Tuesday)
          4.     Prepare an individual solution for the problems (Wednesday)
          5.     Post your individual solutions to your Group Discussion Board (Wednesday)
          6.     Read the individual solutions of other Group members and comment on
                 differences of opinion, results or reasoning (Thursday)
          Phase II: Group Projects
          7.     Review professor’s comments and prepare a Group position (Friday)
          8.     Post the Group position to the Class Discussion Board for that week (Friday)
          9.     Read the group positions of other groups and comment on differences of
                 opinion, results or reasoning (Saturday)
          Phase III: Class Discussion
          10.    Discuss the week’s work with the professor on the Class Discussion   Board
                 (Sunday)


This process is illustrated below. Each grey/white band represents one step in the
overall process.


Participation

To encourage student interaction and participation, 10% of the total gradefor the
corse will be based on the instructor’s assessment of your weekly participation.
Participation in weekly assigned solo and group work is the learning process for this
course. There is little in the textbook that you can memorize and reiterate as
knowledge in the exams, anymore than you can pass a carpentry exam just by
showing up with a full tool box and showing off all of your tools. This is a hands-on
course, and only regular practice in applying your knowledge and defending your
analysis will give you the skills you need to pass the exams.
Full and active participation is mandatory and expected for this course, and you
owe it to yourself and your group members to make sure you get your weekly work
done on time. This is a matter of both academic and professional ethics. Please
keep this in mind as the course progresses, and discreetly report any problems with
under-performing team members by email to the instructor.
Let's begin on the right foot by introducing ourselves to each other via the Day 1 -
Introduce Yourselves discussion board. Please go there and tell us a bit about
who you are, what you do, and why you're taking this course. Inquiring minds want
to know!
              Module 1

Activities and Assignments
   1. Read: Chapter 13 (¶13,000-¶13,355) in Introduction to Federal Income
      Taxation in Canada (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:




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               o   Chapter 13:
                          Problem 3 — Shareholder loans/accruals
                          Problem 7 — Salary/dividend mix
                          Problem 8 — Small business corporation
                          Problem 10 — Capital gains exemption
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.



        Module 2

Activities and Assignments
   1. Read: Chapter 13 (¶13,360-¶13,555), Chapter 8 (¶8,300) and Chapter 14
      (¶14,340-¶14,360) in Introduction to Federal Income Taxation in Canada
      (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:
               o   Chapter 13:
                          Problem 11 — Corporate attribution
                          Problem 12 — General anti-avoidance rule
               o   Chapter 8:
                          Problem 11— Death of a taxpayer
               o   Chapter 14:
                          Problem 11 — Death of a taxpayer
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.




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        Module 5

Activities and Assignments
   1. Read: Chapters 15 (¶15,320-¶15,400) and 16 (review as needed) in
      Introduction to Federal Income Taxation in Canada (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:
               o   Chapter 15:
                         Problem 9 — Assets vs. shares
               o   Chapter 16:
                         Problem 3 — S.85 rollover
                         Problem 4 — S.85 rollover
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.



        Module 6

Activities and Assignments
   1. Read: Chapter 16 (¶16,200-¶16,255) and Chapter 17 (¶17,000-¶17,030) in
      Introduction to Federal Income Taxation in Canada (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:
               o   Chapter 16:
                         Problem 5 — S.85 rollover
                         Problem 7 — S.84.1 dividend stripping
                         Problem 9 — S.55 capital gains stripping
               o   Chapter 17:
                         Problem 1 — S.85.1 share-for-share exchange
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.



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        Module 7

Activities and Assignments
   1. Read: Chapter 16 (review as needed) and Chapter 17 (¶17,040-¶17,140) in
      Introduction to Federal Income Taxation in Canada (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:
               o   Chapter 16:
                         Problem 8 — S.85/S.84.1
               o   Chapter 17:
                         Problem 2 — S.86 capital reorganization
                         Problem 4 — S.87/S.88 rollovers
                         Problem 5 — S.87/S.88 rollovers
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.



        Module 8

Activities and Assignments
   1. Read: Chapter 17 (¶17,200-¶17,340) and Chapter 18 (¶18,000-¶18,310) in
      Introduction to Federal Income Taxation in Canada (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:
               o   Chapter 17:
                         Problem 6 — S.85/S.84.1/S.86 comparison
               o   Chapter 18:
                         Problem 1 — Partnership income/ACB/disposition
                         Problem 5 — Trusts
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.




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        Module 9

Activities and Assignments
   1. Read: Chapter 18 (review as needed) in Introduction to Federal Income
      Taxation in Canada (IFITC)
   2. Solve: Communicate online with other members of your “Tax Consulting
       Firm” (e.g., small group) to solve the following Assignment Problems in
       IFITC:
               o   Chapter 18:
                         Problem 2 — Partnership income/ACB/disposition
                         Problem 6 — Trust
                         Problem 7 — Comprehensive planning
   3. Write and Post: Prepare your “report” detailing your answers to the
      Assignment Problems, and post them to the Class Discussion Board.
   4. Read and Comment: Read the reports posted by the other groups.
   5. Discuss: Join the instructor and all other students in the Class Discussion
      Board for this week to discuss the assignments and any other issues related
      to the content of this module.




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