Management and Organizational Studies 3362A/B- Midterm Exam Guide - Comprehensive Notes for the exam ( 96 pages long!)

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3362 full study guide: chapters 1-12 & 21. Chapter 1: introduction to federal taxation in canada. Income tax the base is income and we will spend a lot of time determining income. Sales (consumption) tax: harmonized sales tax (formerly gst and pst) o. Value added tax: tax applied to the increase in value of a good or service o. Raw material ----> processing ----> manufacturing ----->wholesale ----> retail. Duty/excise tax: tax on the import and export of goods. Transfer tax: tax on the transfer of property. User tax: tax on the use of publicly owned goods. Head tax: tax on a category of people. For example: o o o o o o. Parts (i to xvii) we care about part i. Individuals taxed on employment income, business (proprietor, partnership) income, property income, and capital gains: corporations taxed on business (partnership possible) income, property income, and capital gains. Trusts taxed on the same as corporations.