1. To start an appeal process, the taxpayer needs to file appeal papers with the Tax Court of Canada.

True or False

2. The first time a taxpayer fails to file their annual return can result in a maximum penalty of 17% of the amount of the unpaid tax, plus interest computed at rates prescribed by the Income Tax Act

True or False

3. If a taxpayer has a loss it is not necessary to file a tax return for the year. The loss can be reported in the year it is claimed as a deduction against the taxpayer's other sources of income.

True or False

4. Individuals must file an annual income tax return starting with the year they turn 18.

True or False

Note- Introduction to Taxation