Solution Manual

Topics: Tax, Taxation in the United States, Taxation Pages: 629 (70269 words) Published: March 1, 2015
INSTRUCTOR'S SOLUTIONS MANUAL
Byrd & Chen's Canadian Tax Principles
2011 - 2012 Edition
ISBN-13: 9780132827195; ISBN-10: 0132827190
Copyright © 2011 Clarence Byrd Inc. All rights reserved.
This work is protected by Canadian copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Please visit the web site (URL below) for the procedures required to authorize limited on-line posting of Assignment Problem solutions.

www.pearsoncanada.ca/byrdchen/ctp2012

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The Instructor’s password protected web site can be accessed by clicking on the Instructor Resources jump link on the above web page.
Here you will find:





Updates and corrections to the supplements package
PowerPoint slide presentations for all chapters
Online posting policy for assignment problem solutions and permission form Solutions to Tax Software Problems, updated for the 2011 version of ProFile (January, 2012)

Problem Concordance

d

A concordance of the problems in the 2010/11 vs. 2011/12 editions is available after the Problem Listing (and on the instructor’s web site) to assist instructors who have previously used Canadian Tax Principles.

Bookmarks In PDF File

To assist you in navigating through the electronic version of this solutions manual, (available on the Instructor’s CD-ROM) there are bookmarks on the first page of each Assignment Problem solution.

Contact Information
Comments and queries from instructors should be e-mailed to Ida Chen at: idachen@sympatico.ca
If you have any further questions, please contact Nicole Lukach, Acquisitions Editor, Pearson Canada, at:
Nicole.Lukach@PearsonEd.com

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Solutions Manual Problem Listing

Assignment Problems Listing and Description
Next to each problem number you will find a general indication as to whether the problem is: Easy(E), Medium (M), or Difficult (D).

Chapter 1
Introduction To Federal Taxation In Canada
Subject
Application of general tax principles
Conflicting objectives
Qualitative characteristics of tax systems
Evaluation of head tax
Net income and taxable income
Alternative views of income
Net Income For Tax Purposes
Net Income For Tax Purposes

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Solution
1-1 (M)
1-2 (M)
1-3 (M)
1-4 (M)
1-5 (E)
1-6 (E)
1-7 (M)
1-8 (M)

Page
1
2
3
4
5
6
7
8

Chapter 2
Procedures And Administration

2-1
2-2
2-3
2-4
2-5
2-6
2-7

(E)
(M)
(M)
(M)
(E)
(M)
(M)

Individual tax instalments
Corporate tax instalments
Individual tax instalments
Corporate tax instalments
Filing dates
Appeals
Tax preparer’s liability

9
10
11
12
14
15
16

d

Chapter 3
Income Or Loss From An Office Or Employment
3-1
3-2
3-3
3-4
3-5
3-6

(E)
(E)
(M)
(M)
(M)
(M)

3-7 (M)
3-8 (D)
3-9 (E)
3-10 (M)
3-11 (D)
3-12 (D)

Bonus arrangements
Employee vs. self-employed
Employee automobile benefits
Employee automobile benefits
Employee automobile benefits
Loans to employees

17
18
19
20
21
22

Employee stock options
Employment income - commission income
Employment income
Employment income (Extended in Assignment Problem 4-4)
Alternative employment offers
Comprehensive employment income

23
25
27
28
29
31

Solutions Manual Problem Listing

Chapter 4
Taxable Income And Tax Payable
For Individuals
Solution
4-1 (E)
4-2 (E)
4-3 (M)
4-4 (M)
4-5 (D)
4-6 (D)

Subject
Personal tax credits - 5 Cases
Personal tax credits - 5 Cases
Personal tax credits - 5 Cases
Calculation of individual taxable income and tax payable
(Extension of Assignment Problem 3-10)
Calculation of individual taxable income and tax payable
Calculation of individual taxable income and tax payable

Tax Software Assignment Problems
4-1 (M)
ProFile T1 software case for 2010
(Extended in Tax Software Assignment Problem 11-1)

4-3 (M)

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4-2 (D)

Page
33
35
38
41
43
46

49

ProFile T1 software case for...
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