For courses in taxation. Consistent with the title of this textbook, our objective is to instill a solid understanding of the basics of income tax and GST/HST through an appreciation of the tax principles, concepts, and unique vocabulary that make up the framework upon which the Canadian tax system has been built. This level of understanding is not solely directed at a theoretical or academic level; considerable emphasis is placed on practical everyday situations in preparation for careers where an understanding of tax in some form will be helpful at a minimum and essential at best. The textbook will provide you with the elementary tools necessary to develop an awareness to help identify, analyze, and apply the tax law to a wide range of subjects ranging from determining the income tax liability or refund of individuals earning employment income, carrying on a business, earning investment income, identifying potential income tax benefits directed at students, investing in Tax-Free Savings Accounts (TFSAs), and understanding how the income tax law applies to corporations, trusts, and partnerships.