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Part IV Tax

$69.00

Part IV tax applies to certain kinds of dividends that are received by a Canadian private corporation. It is very common to see the Part IV tax in real life, but it often creates confusion amongst business owners and advisors regarding its application.  In this course, we will take a detailed look at what the Part IV tax is, why it exists, what it tries to accomplish, and how it ultimately works.

Hours
1.0

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SKU: TX002 Category: Tag:

Description

In Canada, the number of private corporations in existence far exceeds the number of public corporations. It is relatively simple to incorporate a private company, and just about anyone can do so. Unfortunately, a private corporation is subject to many different special tax rules that don’t otherwise apply to public corporations. As a result, private business owners and their accountants are oftentimes required to attain a solid understanding of challenging tax rules, such as the Part IV tax. This course will provide an overview of these rules and some examples for learners to be able to apply the rules to real life scenarios.

By the end of this course, you will be able to:

  • Explain how dividends subject to Part IV are taxed in Canada
  • Explain the purpose behind Part IV taxes
  • Calculate Part IV tax for dividends received by corporations from both connected and non-connected corporations
  • Complete the appropriate forms on a T2 Corporate Income Tax Return that are relevant for Part IV tax purposes