Tax Competencies for CPA Canada’s Core 1

One of the most frequently asked questions I get as a CPA Exam Coach is what types of Finance and Tax topics can be tested in Core 1.

I’ve covered Financial Reporting (FR), Assurance and Finance topics in other posts. I’ll cover the Tax topics here.

Common Tax topics to know for Core 1

Here are some of the common Tax topics you should know for Core 1:

  • Tax income/payable – individual
  • Tax income/payable – corporation
  • Destructibility of expenses(eg home office, meals, moving expenses, etc.)
  • Common business expenses DISALLOWED
  • Common business expenses ALLOWED
  • CCA
  • Employee vs Contractor
  • Residency
  • Property Income
  • Sales tax (GST/ITC) rules and deadlines
  • Employer provided automobile – standby charge
  • Employer provided automobile – operating benefit
  • Pros/cons of incorporating
  • Salary vs. Dividends
  • Filing and payment deadlines
  • Notice of assessment/reassessment

All Tax topics that can be tested

The full list of Tax topics that you will be tested on are listed in the CPA Canada Competency Map.








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