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Frequently Asked Questions

 

Why should I enroll in this program?

Quite simply, the career opportunities as a tax professional are great. The demand for such professionals is increasing, the program has partnered with the experts in the field, and the work is challenging, diverse and stimulating - "It doesn't get much better than this."


You will have the opportunity to:

  • enter an attractive career path-at a level above the entry level.
  • enter this field without first having to complete the requirements of a professional accounting designation.
  • be employed in a tax practice during the work terms and on graduation.
  • learn from high-level tax practitioners and academics.
  • develop skills in reading tax legislation, researching tax issues and writing clearly and effectively.
  • gain an understanding of many tax and non-tax issues involved in business decisions.
 

What's special about this program?

The involvement and commitment of Canada’s major accounting firms is a unique feature of this program. The knowledge, experience and skills of top professionals from these firms are being directly channelled into the classroom. Additionally, the practice terms add a reality check to what is happening in the academic terms. The knowledge gained in class can be developed into skill through application to real clients in a dynamic tax practice.

What kind of background do I need?

You can enter the program with one of the following:

  • an honours undergraduate degree in economics or business,
  • a CA, CMA or CGA designation, along with an honours undergraduate degree, or
  • a law degree.
 

Is any financial assistance available?

Financial assistance is available in five forms:

 

Am I guaranteed a job?

No, we do not guarantee jobs either during the practice terms or on graduation. Variables beyond our control such as the current job market and student-employer interview dynamics make guarantees impossible. However, we will make every effort to find employment for our students. For the past 7 years, we have placed 100% of our students.

Where else in Canada can I take a program like this?

The MTax is the only Master’s program outside of Quebec designed to develop specialists for tax practice.

Will I be required to take the Pre-Admission course?

If you have applied for admission and the MTax Admissions Committee concludes that you need additional preparation in financial accounting and Canadian tax law, you will be required to take the Pre-Admission course held in late June early July before entering the MTax program. You MUST pass this course in order to proceed into the program.

Why is a University of Waterloo program being held in Toronto?

Toronto provides a large population base from which to attract students. Toronto also has the highest concentration of high-quality adjunct faculty from which to draw.

Can I live outside Toronto and commute to classes?

Yes. Since classes are held on two weekdays, Monday and Thursday, you can commute to Toronto for those days. We are planning to have students and faculty communicate by e-mail, fax and phone. Also, given that the library is largely contained on CDs, of which each student will have a personal copy, much of the research can be done at home.

Why is the program offered on both a full-time and half-time basis?

In order to make the program as flexible as possible, a halftime study option is available for people who want to earn an MTax degree while maintaining their employment. Half-time students should expect to spend approximately 25 hours per week on courses, class time included; full-time students should expect to spend 50 hours per week, class time included. The half-time study option involves six consecutive academic terms of study, while the full-time study option alternates three academic terms with two practice terms. Practice terms are not offered for half-time students because they are already employed.

Do accounting firms hire people without professional designations?

Yes. Increasingly, firms are looking to non-traditional sources for future tax professionals. Currently, there are partners in these firms who are not chartered accountants, and this trend will continue.

What kind of work will I do in the practice terms? (full-time study option)

The work you do will vary depending on your background and the work available in that office at that time.

Do I have to work for an accounting firm?

No, during practice terms and upon graduation you can work for any employer you choose. In fact, working during practice terms is not even required to graduate.

What kind of jobs might I expect as an MTax graduate?

You may expect to be hired by:

Who are the program instructors?

The equivalent of four of the courses are taught by full-time faculty from the University of Waterloo, the balance are taught by practitioners from the supporting accounting firms; one is taught by a lawyer who practices tax.

Will I spend all of my time memorizing tax rules?

No. We want you to graduate as a tax adviser, not as a tax technician. This distinction is the difference between someone who can only do technical research and someone who can deal with the client, making tax recommendations and integrating them with other factors into an effective overall plan.

The program offers significant technical content but also emphasizes skill development. Considerable time will also be spent on the non-tax issues that must be considered in developing a comprehensive plan that will accomplish the client's objectives and, at the same time, minimize tax.

What library access will I have?

As a graduate student in Ontario, you will have full access to the libraries of all Ontario universities. Access to the Canadian Tax Foundation library is also available. In addition, a significant amount of research material will also be provided to you on CDs for use on your own personal computer.

How is the material delivered in the classroom?

Instructors assign readings and case studies, and 50% of class time is spent discussing cases.

Who is taking the MTax program?

COMING SOON: a chart showing a profile of students who have enrolled in our program.

What's going to make the difference?

Attitude! The classes provide the knowledge, the practice terms or your current employment provide the experience and you provide the attitude. All three are vital to your future success.

What skills are desirable for successful tax practice?

In today’s tax practice, technical knowledge alone will not ensure success. Professional firms are looking for a broader set of skills. Tax professionals need to have the ability to:

  • identify technical and non-technical issues,
  • research technical and non-technical issues and communicate the results,
  • understand the meaning of client service and provide high levels of such service, and
  • understand the key components of successful tax practice management and the development of that practice.


All of these skills are emphasized in the MTax program.


Contact Julie Robson with queries about the information provided.