This course has been designed to provide the student with a basic knowledge of the structure, purpose and administration of the federal income tax system. It includes the determination of employment income, property income (interest income), capital gains and other sources of income that an individual may earn. Students will learn to identify specific deductions available to an individual. Students will learn to calculate the minimum Taxable Income and Taxes Payable (before and after tax credits) for an individual. Students will complete a simple T1 personal tax return. NOTE: Final exam must be completed in class.