AFM 206Introduction to Tax
- Units
- 0.25
- Faculty
- Arts
When it runs
- F24
- W25
- S25
- F25
- W26
- S26
- F26
- W27
- S27
Ran in 3 of the last 7 terms. Winter 2027: not on the schedule. Spring 2027: schedule not out yet.
This course is the first of a sequence of courses in which students will learn to apply Canadian tax principles to taxpayer situations. In this course, students will be equipped to apply basic tax rules to individual circumstances and work with software to prepare personal tax returns. The course focuses on being able to understand and apply income tax to detailed scenarios involving individual employment income as well as personal income tax deductions and credits.
Prerequisites
- Complete all of the following
- Must have completed the following:
- AFM191 - Introduction to Financial Reporting and Managerial Decision Making 1 (0.50)
- Students must be in level 2A or higher
- Complete 1 of the following
- Enrolled in H-Accounting & Financial Management, H-Mathematics/Chartered Professional Accountancy, or H-Science & Financial Management
- Enrolled in H-Biotechnology/Chartered Professional Accountancy
- Must have completed the following:
Antirequisites
None listed.
Leads to
No course lists it as a requisite.
Fall 2026 sections
| Section | Class | Enrolled | Meets |
|---|---|---|---|
| LEC 001 | 3645 | 26 / 44 | MW 08:30–09:50 |
| LEC 002 | 3646 | 44 / 44 | MW 10:00–11:20 |
| LEC 003 | 3647 | 44 / 44 | MW 11:30–12:50 |
| LEC 004 | 3648 | 43 / 44 | MW 13:00–14:20 |
| LEC 005 | 3783 | 43 / 44 | MW 14:30–15:50 |
| LEC 006 | 3789 | 22 / 44 | MW 08:30–09:50 |
| LEC 007 | 3790 | 44 / 44 | MW 10:00–11:20 |
| LEC 008 | 3791 | 44 / 44 | MW 11:30–12:50 |
| LEC 009 | 8346 | 45 / 44 | MW 13:00–14:20 |
| LEC 010 | 8345 | 44 / 44 | MW 14:30–15:50 |
| TST 101 | 3714 | 200 / 220 | Oct 23 13:00–14:20 Oct 30 18:30–20:00 |
| TST 102 | 4098 | 199 / 220 | Dec 4 13:00–14:20 |
Reviewed on UW Flow
79% liked it63% easy94% useful
From 48 ratings and 9 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.
Pretty easy course. Showing up and engaging in the class, asking the profs for help definitely plays a big part in your success. I really liked the style of the midterm where it was split into a written and oral, really helping you understand and apply what you have learned over the term.
Aug 2026 · liked itOn UW FlowRemove this
Useful info that can be applied to your own tax returns. Take with Alexis
Feb 2026 · liked itOn UW FlowRemove this
tbh its not that hard but requires you to do the work, make sure to do the application problem and understand the content, its calm.
Dec 2025 · liked itOn UW FlowRemove this
Pretty easy intro to tax course. Teaches you the basics of filing your own taxes, the uses of different forms like T1, T4, and T2202, and tax rules. Every class after the third week was a workshop period.
Nov 2025 · liked itOn UW FlowRemove this
Just study the material
Oct 2025 · liked itOn UW FlowRemove this
Discussed on r/uwaterloo
5 posts and comments in 5 threads mention AFM 206, May 2020 to December 2024. Quoted word for word, newest first; each reply sits under the post and the comment that started its branch. Search r/uwaterloo for newer posts.
Spring 2024
AFM 2A timetable advice 4 points, 8 comments
u/OrdinaryOil2139: “… 1st half: AFM 212, AFM 273, AFM 205, PD 1, CLAS 104 2nd half: AFM 212, AFM 273, AFM 206, AFM 207, AFM 208, PD 1, CLAS 104 (205 and 207 are the most difficult) I am trying to find a balance in my schedule. …”
Fall 2023
AFM 206 Lab Final Cheat Sheet 1 point, 0 comments
u/Foreverevil316: “Got an open book lab assessment tomorrow morning for AFM 206. Anyone have a good cheat sheet I could use?”
Spring 2022
FARM vs MATH/CPA 2 points, 7 comments
“Hey everyone, &x200B; I have been fortunate enough to be accepted into both FARM and Math/CPA and have been very grateful for it:) Nevertheless, I am VERY struggling to choose between these two and …”
u/AFMISFULLOFNOOBS: “… AFM 111 Professional Pathways and Problem-solving AFM 182 Foundations of Management Accounting AFM 191 Foundations of Financial Reporting AFM 206 Intro. Tax and AFM 208 Intro. …”
Winter 2021
AFM CPA/CFA Pathway 0 points, 21 comments
u/Drip_Killa: “… AFM 206 \- Introduction to Tax (0.25 units) 3. AFM 207 \- Introduction to Performance Analytics (0.25 units) 4. AFM 208 \- Introduction to Assurance (0.25 units) 5. AFM 212 \- Financial Analysis and Planning 6. AFM 273 \- Financial Instruments and Capital Market 7. …”
Spring 2020
AFM 2a large courses? 1 point, 8 comments
“I'm headed into 2a in fall 2020, and I was wondering how many lecture vs classroom sized courses were there. The email said that large courses (like lectures) would be online. …”
u/smoIbean: “AFM 2A Term - Class of 2024: • AFM 205: max 45 people • AFM 206: max 68 people • AFM 207: max 45 people • AFM 208: max 68 people • AFM 212: max 48 people (if same as AFM 211) • AFM 27: 45-225 people • ELECTIVE: depends on the course - usually large (100+ people)”
Check it elsewhere for Fall 2026
- Undergraduate Calendar, 2026–27The official entry
- Requirements for Fall 2026Waterloo’s requisite checker
- Schedule of Classes, Fall 2026Instructors, rooms, live seats
- Quest Class SearchWhere you enrol
- Course outlinesSyllabi from past terms (UW login)
- UW FlowStudent ratings and reviews
- WClassesPast sections back to 2004, and who taught them