Professional LLM in Tax Law

Course Descriptions*

Tax Policy, Statutory Interpretation and the Foundations of the Taxation of Individuals [6 credits]
This course deals with the various theories of tax interpretation and styles of tax analysis and then covers, at an advanced level, the following matters: (1) The basic principles, theories, and tools of analysis needed for serious discussion of tax policy
and planning issues and the philosophical, accounting, financial and economic concepts from which the various logics of tax are derived. (2) Recent theories of statutory interpretation along with trends in the judicial interpretation of tax laws. The need for, and problems with, implementing anti-avoidance rules are also examined; and (3) An examination of changing conceptions of the deep structure that underlies the income tax system. Detailed aspects of computing personal and business income are examined through a review of recent tax cases and legislative amendments.

Tax Administration and Litigation [3 credits]
In this elective, the structure of the Canadian tax system and the theoretical and practical issues that arise in the administration of the Canadian tax system are covered; the role of the Department of Finance, administration of the Income Tax Act by the Canadian Customs and Revenue Agency, civil and criminal sanctions, methods of proof, Revenue Canada prosecution policies, investigative techniques, processing procedures, search warrants, Charter rights and lawyer-client privilege, defending criminal prosecutions, tax court practice, and issues in international tax enforcement.

The Taxation of Trusts and Estates [3 credits]
Topics covered include: general concepts and types of trusts for tax purposes, the taxation of trusts and their distributions, transactions in capital and income interests of trust, Canadian trusts with non-resident beneficiaries and non-resident trusts with Canadian resident beneficiaries, and using trusts in estate and tax planning. The deemed disposition of capital property on death and the various methods of estate freezes will also be examined, as well as the application of the income
attribution rules.

Advanced Taxation of Corporations and Shareholders [6 credits]
This course examines advanced income tax problems relating to the tax treatment of corporations and their shareholders, including: the decision to incorporate; considerations when capitalizing a corporation; the use of professional, personal services, and executive management corporations; the small business deduction and problems of associated companies; remuneration of owner manager; transferring assets to a private corporation; tax considerations in buying or selling a business; utilization of corporate losses; acquisition strategies; statutory amalgamations, arrangements, and continuations; liquidations; and de-mergers and reorganizations of capital.

International Taxation [3 credits]
International taxation topics covered in this course include: jurisdiction to tax; the foreign affiliate system; foreign tax credit; corporate immigration; emigration and continuance, aspects of transfer pricing; ownership and financing of overseas operations of Canadian companies; structuring foreign joint ventures, financing US affiliates, cross-border mergers and de-mergers and other forms of corporate reorganizations; alternative inbound investment structures; international finance companies, computer software; cross-border issues; and issues relating to
tax treaties.

Overview of US Taxation and Recent Developments [3 credits]
Students will analyze the income tax provisions of the United States Internal Revenue Code of 1954, as amended, with an emphasis on business and investment transactions, including those of Canadians doing business and investing in the United
States. A review of recent developments in the United States of interest to Canadian tax practitioners will also be conducted.

Managerial Tax Planning [3 credits]
The objective of this course is to introduce students to an integrative approach to tax planning. A framework is developed that fully integrates tax planning with business planning through the use of six key concepts: the government as business partner, implicit taxes, the pareto principle, the Coase theorem, agency costs and a multi-period perspective. The importance of these concepts is explored by applying them to a diverse range of tax planning issues.

Partnerships and Alternative Business Vehicles [3 credits]
Students will explore the range of business vehicles other than corporations that are used in order to achieve business and tax objectives such as partnerships, limited partnerships, income and other commercial trusts, limited liability corporations and other forms of incorporated partnerships, and tax exempt investment structures.

Taxation of Financial Instruments [3 credits]
This course scrutinizes the current Canadian law and the
basic policies relating to the taxation of financial instruments including all forms of derivative instruments. It compares the Canadian law in this developing area to the experience in other jurisdictions, in particular, the United States, Australia
and New Zealand.

Tax Treaties: Policy, Application and Interpretation [3 credits]
This course provides a detailed study of Canada's bilateral tax treaties. To provide a foundation for the study of specific treaty articles, the course includes a review of the underlying principles of international taxation and a discussion of approaches to tax treaty interpretation. The core of the course will involve a detailed review and evaluation of the design of the specific treaty articles, including the articles that govern business and professional income, employment income, real property income, dividends, interest, royalties, and capital gains. The course also includes a discussion of the use of tax treaties in tax planning, the ways by which tax treaties are used as tools for tax avoidance, and the mechanisms available in treaties to facilitate compliance, enforcement, and information collection.

Major Research Paper (MRP) [6 credits]

A Major Research Paper (MRP) of approximately 70 pages may be completed on a topic in tax law, provided appropriate supervision is available. The MRP should go beyond merely describing legal developments to include independent critical analysis of its subject matter.

*Curriculum and course descriptions are subject to change. New courses and course changes are subject to Senate approval.