Income Tax Compliance and Planning Textbook

This textbook is used for Income Tax Planning Courses in Personal Financial Planning Programs of Community Colleges and Universities. You will also find it valuable in your personal studies in preparation for writing the Professional Exams.

The Textbook includes 424 pages and 13 chapters addressing the components of income tax compliance and planning as defined in the CFP® and the PFP® Professional Competency Profiles.


  • The Personal Income Tax Return
  • Personal Tax Rates and Credits
  • Taxation of Employees
  • Personal Deductions & Social Security Benefits
  • Proprietorships and Partnerships
  • Corporations
  • Taxation of Shareholders
  • Taxation of Property Income
  • Taxation of Capital Property
  • Income Attribution, Split Income & Minimum Tax
  • Income Tax Compliance
  • Income Tax and Benefit Planning
  • The Federal Budget
The Textbook will guide you through current and up-to-date concepts, definitions and strategies required to address client’s needs with examples as to how they apply to client situations that you would find on the examinations.

Concept -

The income attribution rules are a set of rules that attribute income to you that you would prefer to split with your family members.

 Definition -

capital loss is any excess of the sum of your adjusted cost base and any outlays or expenses that your incurred for the purpose of making the disposition over your proceeds of the disposition (ITA 40(1)(b) and 39(1)(b)).

Example -

Several years ago, Jared purchased 1,000 cumulative preferred shares at $25 per share of MNE Inc., a publicly-traded taxable Canadian corporation. This year, the shares will pay a $1.50 fixed annual eligible dividend. His effective tax rate on ordinary income was 45%. He lives in a province where the conversion rate for the dividend tax credit on eligible dividends is 10.00%.

 Jared’s effective tax rate on eligible dividends is 27.5727%, calculated as:

  •  (dividend grossup rate × (effective tax rate on ordinary income - (federal and provincial conversion rates))); or
  • ((1 + 38%) × (45% - (0198% + 10.00%))).

The Personal Financial Planner's Manual™

The Textbook is included as one of the sections of The Personal Financial Planner's Manual™.

The Personal Financial Planner's Manual


We ship the Textbook by Canada Post to the mailing address that you give us. 

Trade Mark

The Personal Financial Planner's Manual™ is a trade mark of D. R. Gobeil & Associates Ltd.

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