CPA PEP Taxation Elective study plan

Map the CPA Canada Income Tax Act competency areas against your own weak spots and rank them by exam weight and personal risk

Compute net income for an individual from employment, business, property, and other sources using the s.3 ordering rules without looking at notes

Apply the s.3.1 loss restriction and identify which losses are deductible in the current year versus carried forward

Distinguish between deductions in computing net income and tax credits deducted from tax payable for five common items

Compute taxable income and federal tax payable for an individual, including the graduated rate brackets and the basic personal credit

Apply the major non-refundable credits (age, pension income, caregiver, disability, tuition, medical expense) to a fact pattern

Calculate the medical expense credit using the 12-month period rule and the 3% of net income threshold

Reconcile the difference between the federal and provincial tax calculations in a simple scenario

Classify property into the correct CCA class and compute the half-year rule adjustment for additions

Calculate recapture and terminal loss on the disposition of depreciable property

Compute the capital cost allowance claim that minimizes tax while respecting the s.13(21) UCC continuity

Apply the stop-loss rules on the disposition of depreciable property to a non-arm's-length purchaser

Compute capital gains and allowable capital losses, including the principal residence exemption formula

Apply the lifetime capital gains exemption to a qualifying small business corporation share disposition

Identify when the alternative minimum tax calculation produces a higher liability than the regular tax

Explain the ordering of capital loss carryovers against taxable capital gains

Compute business income for a corporation, distinguishing income versus capital treatment for five common transactions

Apply the small business deduction and identify the associated corporation rules that reduce the limit

Calculate the general rate reduction and the manufacturing and processing deduction for a CCPC

Reconcile accounting net income to taxable income using Schedule 1 adjustments

Compute the integration result for a salary versus dividend decision for a CCPC shareholder

Calculate the refundable dividend tax on hand and the dividend refund on a taxable dividend

Apply the shareholder benefit rules to a loan and to a corporate-owned asset used personally

Analyze a section 85 rollover and compute the elected amount and the resulting paid-up capital

Compute the GST/HST net tax for a reporting period, including input tax credit eligibility and the documentary requirements

Apply the place-of-supply rules to determine whether a supply is taxable in a province

Identify when a supply is exempt versus zero-rated and the resulting ITC treatment

Calculate the quick method remittance and compare it to the regular method for a small business

Integrate personal, corporate, and indirect tax concepts in full-length case scenarios under time pressure

Diagnose recurring error patterns from your error log and redo the three highest-frequency question types

Practice writing tax planning recommendations that cite the relevant provision and quantify the benefit

Review only your own summary sheets and error log rather than re-reading source material