1/ Which of the following types of income earned by a non-resident individual is NOT subject to Canadian income tax under Part I of the Income Tax Act?

a. Employment income earned in Canada

b. Business income earned in Canada

c. Rental income earned in Canada

d. Income from the disposition of Canadian real estate

2/ Which of the following statements is NOT correct?

a. If an individual has business income during the year, the due date for their income tax return is June 15 of the following year.

b. An income tax return may be required of an individual, without regard to their age.

c. If an individual has no Taxable Income for the year, they do not have to file an income tax return.

d. If an individual sells a capital property during the year, they are required to file an income tax return, even if there is no gain or loss on the transaction.

3/ Which of the following groups of factors are used by the courts in order to determine a taxpayer's status as an employee or a self-employed contractor?

a. intent, control test, ownership of tools test, number of hours worked per week

b. intent, ability to subcontract test, the type of work being undertaken, ownership of tools test

c. intent, control test, ownership of tools test, opportunity for profit

d. intent, ability to subcontract test, the location of the work site, opportunity for profit

4/ If a Canadian public corporation is experiencing a year-to-year decrease in taxes payable, the most advantageous calculation of instalments that would be allowed is:

a. monthly, based on the estimated tax for the current year.

b. quarterly, based on the estimated tax for the current year.

c. monthly, based on the estimated tax for the immediately preceding year.

d. quarterly, based on the estimated tax for the immediately preceding year.

e. monthly, based on the estimated tax for the second preceding year and the immediately preceding year.

f. quarterly, based on the estimated tax for the second preceding year and the immediately preceding year.

5/ Ms.RitaMalbechas 2020 Net Income for Tax Purposes and Taxable Income of $169,418. Calculate the base amount of her Basic Personal Tax Credit (ie: the amount before the 15% credit rate is applied).

Calculation.

6/ With regards to the transfer of education related credits, which of the following statements is NOT correct?

a. If the student is married, the tuition credit can be transferred to either the spouse or a parent.

b. Any education related amounts that are not transferred to another person can be carried forward and claimed by the student.

c. Credits related to tuition paid to a university outside of Canada cannot be transferred to another person.

d. Credits related to interest paid on a student loan cannot be transferred to another person.

7/ Which of the following are deductions under Division C (deducted from Net Income for Tax Purposes to calculate Taxable Income)? Choose all that apply. ( can choose more than one answer)

a. Deductions for social assistance or worker's compensation payments

b. Security options deductions

c. Union dues paid by an employee

d. Non-capital losses from other years

e. Allowable Capital Losses from the current year

8/ Which of the following persons is NOT liable for Canadian income tax under Part I of the Income Tax Act?

a. Pheap Chom, an individual who has resided in Canada for the past 15 years.

b. Chom Incorporated, a Canadian resident corporation.

c. Phon Im, a resident of the United States who earns employment income in Canada.

d. Bunly Im, a resident of the United States who earns interest income in Canada.