Request full copy

Byrd & Chen's Canadian Tax Principles, 2024-2025 Edition, 1st edition

Published by Pearson Canada (August 22, 2024) © 2025

  • Gary Donell Canada Revenue Agency (Retired)
  • Clarence Byrd Athabasca University
  • Ida Chen Clarence Byrd Inc.

MyLab

fromC$121.00

  • Reach every student with personalized support
  • Customize courses with ease
  • Optimize learning with dynamic study tools

Hallmark features of this title

  • Self-Study Problems (SSPs). These problems are more complex than the Exercises and include a number of comprehensive problems. We have marked the points within chapters where you should stop and complete each SSP. The SSPs are available on MyLab for download, in the “Chapter Resources” tab, and you’ll find the solutions in your Study Guide.
  • Tax Software Assignment Problems dealing with personal tax returns are found at the end of Chapters 4 and 11. An additional Tax Software Assignment Problem, involving a corporate tax return, is located at the end of Chapter 14. Solutions to Tax Software Assignment Problems are available to instructors only. Look for updates on MyLab in the new year, as these will be updated to reflect the tax year. 
  • Comprehensive Assignment Problems. These are the most challenging type of problem material in the text. They are cumulative in that they incorporate issues from previous chapters. There are two comprehensive APs per chapter in Chapters 6 through 11, found at the end of the APs in the chapter. Solutions to these problems are available to instructors only.

Updated features of this title

  • In this edition we have endeavoured to continue the process of modifying existing content to present facts and circumstances that are both practical and that students are likely to encounter in the course of their careers. In addition, and in recognition that income tax continues to evolve on an ongoing basis, we have added new content to address topics that are both relevant and current, including changes to legislation that often affect federal annual budgets and federal annual economic fiscal updates, plus other federal legislation designed to address myriad issues, most often to close tax loopholes or to override decisions of the courts that the federal government views as unacceptable.
  • First Nations Peoples. As the leading introductory income tax textbook in Canada, we recognize the importance and significance of all Canadians and the unique features of the Canadian income tax system applicable to specific groups of Canadians. The ITA, for example, contains a very specific rule in ITA 87(1)(a) that provides the basis for an exemption from Canadian income tax—be it federal, provincial, or territorial—for First Nations individuals. This specific rule was not covered in introductory Canadian income tax textbooks, even though over 1 million First Nations individuals are potentially impacted. In this regard we are pleased to continue to be the first introductory textbook on Canadian income tax to devote coverage to the federal taxation issues faced by the First Nations Peoples of Canada as a result of this income tax rule. Coverage can be found in Appendix A (introduced in the 2022–2023 edition) of Chapter 11.
  • Legislative Changes. Chapter by Chapter) In this post-pandemic period, the federal government has continued to provide a multitude of income tax incentives to assist in returning the Canadian economy to pre-pandemic levels. The 2023 federal budget was released on March 28, 2023; a Fall Economic Statement together with draft legislation was released together on November 3, 2022; and further draft legislation relating to many issues of a technical nature was released on August 9, 2022. While there have been other releases of draft legislation, they have not been covered by us given that the topics are beyond the scope of an introductory textbook. Many of the 2023 federal budget announcements are once again incentive based and related to addressing the high cost of housing, housing shortages, and the inflationary pressures on Canadians in buying the basic necessities of life, such as groceries and paying rent.

Important Digital Assets in MyLab Accounting

  • Data Analytics Project - In the Data Analytics Project, you will analyze a comprehensive data set and make a series of accounting decisions. This assignment is designed to prepare you for the data analytics competencies that have been included in the most recent CPA Competency Map. You will use Excel-based tools to assess data for accuracy, then organize and filter large quantities of information to make the data appropriate for income tax calculations. You will then incorporate income tax concepts, including the calculation of net income, taxable income, and tax payable using the outputs of your data analysis in Excel. This assignment also includes data visualization and incorporates tax planning concepts for a business. This is assignable from your instructor on MyLab. 
  • CPA Competency Alignment Map - This downloadable file ties the chapters to the CPA Competency Map. Students can use this mapping to understand the level of depth required for each broad topic area that is covered in taxation at the Entry, Core, or Elective course levels. Practice Examinations A 90-minute practice examination, along with a solution and suggested marking guide, is available for each of the chapters in MyLab. These examinations contain a variety of problems, including multiple choice, true/false, essay questions, and longer problems. The goal of Practice Examinations is to allow you to evaluate your ability to write the examinations in your tax course. To get the maximum benefit, you should write it under examination conditions, within a 90-minute time constraint. 
  • Self Study Problems. Self Study Problems are available on MyLab, with solutions in your Study Guide. In the textbook, we have marked the point within the text that you should work each Self Study Problem. 
  • This MyLab will include the student files that have always been made available, including tax returns, practice examinations, PowerPoint presentations, updates, self-study problems, and more. In addition, students can access valuable assessments and study tools to help students practise and understand key concepts from the text. Students can practice an expanded number of questions based on chapter content, watch videos highlighting core topics from the text, review key terms with glossary flashcards, and work on additional comprehensive assignments throughout the resource.
  • Freehand Grader (beta) is the grading technology in MyLab® and Mastering® that creates an authentic assessment experience for both instructors and students. Freehand Grader, available as a new assignment type, allows you to quickly grade any kind of handwritten assignment. As you grade, you indicate the grading criteria and build the rubric question by question. This grade-as-you- go approach lets you add notes to provide students with individual feedback. Students upload their handwritten solutions, including all the steps that went into their responses. Their work provides insight into their thought processes, showing what they know, not just a final answer.

Volume I

  1. 1 Introduction to Federal Taxation in Canada
  2. 2 Procedures and Administration
  3. 3 Income or Loss from an Office or Employment
  4. 4 Taxable Income and Tax Payable for Inliiduals
  5. 5 Capital Cost Allowance
  6. 6 Income or Loss from a Business
  7. 7 Income from Property
  8. 8 Capital Gains and Capital Losses
  9. 9 Other Income, Other Deductions, and Other Issues
  10. 10 Retirement Savings and Other Special Income Arrangements

Volume II

  1. 11 Taxable Income and Tax Payable for Inliiduals Revisited
  2. 12 Taxable Income and Tax Payable for Corporations
  3. 13 Taxation of Corporate Investment Income
  4. 14 Other Issues in Corporate Taxation
  5. 15 Corporate Taxation and Management Decisions
  6. 16 Rollovers under Section 85
  7. 17 Other Rollovers and Sale of an Incorporated Business
  8. 18 Partnerships
  9. 19 Trusts and Estate Planning
  10. 20 International Issues in Taxation
  11. 21 GST/HST

Need help? Get in touch

MyLab

Customize your course to teach your way. MyLab® is a flexible platform merging world-class content with dynamic study tools. It takes a personalized approach designed to ignite each student's unique potential. And, with the freedom it affords to adapt your pedagogy, you can reinforce select concepts and guide students to real results.

Video
Play
Privacy and cookies
By watching, you agree Pearson can share your viewership data for marketing and analytics for one year, revocable upon changing cookie preferences. Disabling cookies may affect video functionality. More info...

Video transcript (PDF | 25KB) 

Empower your students, in class and beyond

Meet students where they are with MyLab®, and capture their attention in every lecture, activity, and assignment using immersive content, customized tools, and interactive learning experiences in your discipline.