Fundamentals Of Income Taxation

"The second volume of Fundamentals of Canadian Income Tax picks up exactly from where the first volume left off and examines the fundamental principles of corporate income tax law. This volume introduces students to the income tax implications of corporate, commercial, and family transactions. As with its companion piece, Volume 1, we use a building block approach, starting with basic and fundamental legal principles of alternative business structures and their income tax effects. We look at the underlying policies and structure for the income taxation of corporations and shareholders, financing arrangements for equity and debt capital, the use of professional corporations, the taxation of business and investment income of private corporations, shareholder compensation, and corporate distributions to shareholders. In addition, we examine the nature of corporate reorganizations, tax-deferred rollovers, and non-arm's length share transfers, amalgamations, winding-up, the taxation of non-residents, transfer pricing, and selected aspects of estate planning. The text is current to January 1, 2018, and incorporates changes announced by the Ministry of Finance, but which were enacted into law later in 2018. It also contains a comprehensive glossary of tax and financial terms, which will be useful for students and practitioners in commercial practices." -- Back Cover.

"Fundamentals of Income Taxation sets out the basics of income tax law in New Zealand, concentrating on substantive rules of the tax system with limited attention to procedural and administrative matters. It provides the reader with an understanding of the structure and main provisions of the Income Tax Act 2007, revenue law in its political and economic context, and the practical problems in resolving tax cases. This textbook offers summaries and conceptual analysis of statutory provisions and cases relating to them.This textbook does not provide a broad-based grounding in all aspects of revenue law, but instead deals with the core concepts of the law of income taxation as applicable to individuals and businesses. Split into six distinct parts, Fundamentals of Income Taxation covers: Essentials of income tax and its administration; The characteristics of income; Treatment of income in the tax regime; Distinguishing capital/revenue and taxable/non-taxable; Deductions; and Tax avoidance concepts, legislation, and historic and contemporary approaches"--Back cover.