Death of a taxpayer
Developed for the In-Depth Tax Program, this course provides an in-depth understanding of the tax implications arising after death, including the treatment of assets, tax compliance rules, and the responsibilities of a legal representative.
This course is for tax and non-tax professionals who want to understand the multitude of income tax implications that arise on the death of an individual.
It consists of three separate modules which highlight key concepts and critical tax compliance issues integrating elearning modules with knowledge checks and scenario activities designed for you to complete at your own pace and revisit when necessary.
This course is based upon enacted Canadian income tax legislation as of March 31, 2021.
You will learn about:
- the tax treatment of capital property and related cost base implications
- the tax implications to registered plans and life insurance policies
- what happens when assets are left to a spouse
- how to categorize income up to the period of death, and the related income tax reporting options
- the special rules that apply to filing tax returns when an individual dies including deadlines and tax credit implications
- the responsibilities of a deceased person’s legal representative
Who should attend?
- professional accountants who require an in-depth understanding of the tax rules that come into play when an individual passes away
- tax practitioners who require a refresher on the multitude of tax rules that need to be navigated following the death of an individual
