1. Taxable supplies for GST are:

A. Goods, services and intangible assets B. Goods, services, intangible assets, real property, rentals and barter transactions C. Goods, services, intangible assets and real property D. Goods and services

2. A small supplier.

A. Should always register for GST at the start of operations B. Does not have to register for GST until it has $30,000 of taxable supplies in a quarter C. Does not have to register for GST until it has $30,000 of taxable supplies in 4 consecutive quarters D. Does not have to register for GST until it has $30,000 of taxable supplies in a calendar year

3. For the 2019 taxation year, John Bookman had a taxable capital gain of $45,000 and a net business loss of $45,000, resulting in a Taxable Income of nil. Which of the following statements is correct?

A. John must file a tax return on or before December 31 , 2020 B. John is not required to file a tax retum for 2019 C. John must file a tax returm on or before June 15, 2020 D. John must file a tax return on or before April 30, 2020

4.Gordon Enterprise Ltd. is registered for GST. In May, Gordon collected $10,200 of GST from its customers while it paid $7,600 of GST on its purchases. Which of the following is true?

A Gordon's financial position is not affected as GST is a flow through tax which will require Gordon to pay the net balance of $2.600 to the B. Gordon's financial position is $10,200 higher due to collecting GST on its purchases C. Gordon's financial position is $7,600 lower due to paying GST on its purchases D Gordon's financial position is $2,600 higher due to net impact of collecting and paying GST

5. Which of the following is NOT a taxable entity for Canadian income tax purposes?

A The Martin family trust B. Walters and Walters, a group of CPAS operating as a partnership. C. Darklyn Ltd., a Canadian resident corporation. D. Ms. Sarah Bright, a Canadian resident.

6. One way to ensure that no interest will be assessed for late instalments is:

A. To pay the average of the three amounts calculated using the three alternative calculations on or before the required dates B. To pay the estimated tax owing for the current year on the first instalment due date C. To pay the lowest amount calculated using the three alternative calculations on or before the required dates D. To pay the amounts provided by the CRA in their instalment reminder on or before the required dates

7. Which of the following is incorrect?

A. Notice of Objection can be filed for GST B. Books and records for GST must be retained for 6 years from the end of the taxation year C. Legislation for GST is provided by the Excise Tax Act D. Legislation for GST is provided by the Income Tax Act

8. The GST filing deadline for a company with $800,000 of revenues would be:

A June 15 of the following year B. One month after the end of the reporting period C. Fiscal year end D. Three months after the year end