1 (1 point) Saved CRA is abbreviation for? Question 1 options: Central Revenue Agency Canada Rates Agency Canada Revenue Administration Canada Revenue Agency Question 2 (1 point) Saved Which of these is not a corporation type in Canada? Question 2 options: A Canadian-controlled private corporation A public corporation, defined as a corporation that is resident in Canada A private corporation A Chartered Company Question 3 (1 point) Saved Which of these is not a tax feature of RRSPs (Registered Retirement Savings Plans) Question 3 options: Contributions are tax deductible Contributions are partially Taxed Savings grow tax-free, but are fully taxed on withdrawal Taxes are deferred until withdrawal Question 4 (1 point) Saved What is the Federal rate of GST in Canada? Question 4 options: 12% 15% 7% 5% Question 5 (1 point) Saved Most taxes in Canada are collected by... Question 5 options: Canada Revenue Agency Federal Government Provincial Governments Canada Regulation Agency Question 6 (1 point) Saved Which of these goods is levied with GST or HST? Question 6 options: Groceries Residential Houses Medical Services Financial Services Question 7 (1 point) Saved Taxation can be levied by a private body Question 7 options: True False Question 8 (1 point) Saved The reporting of taxes in Canada is based on... Question 8 options: Employer Reporting of Tax Payers Automated Tax Calculations Trusting the Tax Payers Surveillance of Tax Payers Question 9 (1 point) Saved Which type of RRSP are for small businesses? Question 9 options: Individual RRSP Pooled RRSP Group RRSP Spousal RRSP Question 10 (1 point) Saved How is Regulatory charge different from Taxation? Question 10 options: It is levied by a public authority It is intended for public purpose It is enforceable by law It is intended to affect some behaviour Question 11 (1 point) Saved Which of these incomes is taxed in Canada? Question 11 options: Income of First Nations, if situated on a reserve Strike pay War disability pensions Capital Gains Question 12 (1 point) Saved Which of these is a tax feature of TFSAs (Tax Free Savings Accounts) Question 12 options: Contributions are tax deductible Taxes are deferred until withdrawal Contributions are fully taxed Savings grow tax-free, but are fully taxed on withdrawal Question 13 (1 point) Saved Personal Income Tax is not levied on... Question 13 options: Bonuses Wages Salaries Self Employed Question 14 (1 point) Saved Which of these is not taxed on person's worldwide income in Canada? Question 14 options: Factual Resident Deemed Full Time Resident Non Resident Factual Part Year Resident Question 15 (1 point) Saved Business Income Taxes are not levied on... Question 15 options: Salaries Corporations Small Businesses Self Employed Question 16 (1 point) Saved For the year 2021 what is the lowest tax bracket for provincial income tax in Alberta? Question 16 options: $131,220 $49,020 $314,928 $13,808 Question 17 (1 point) Saved Which of these provinces has the highest rate of total indirect taxation (Sales Tax)? Question 17 options: British Columbia Alberta Quebec Ontario Question 18 (1 point) Saved Under the constitution act 1867 the unrestricted taxation powers in Canada are vested with... Question 18 options: Municipal Authorities Provincial Legislatures Parliament Territorial Legislatures Question 19 (1 point) Saved Income tax in Canada constitutes... Question 19 options: Federal Taxes Federal and Provincial Taxes GST/HST Provincial Taxes Question 20 (1 point) Saved Which of these if not a RRSP Account structure? Question 20 options: Nominee Accounts Intermediary Accounts Client Held Accounts Individual Accounts