11-When considering tax planning for an Owner-Manager which of the following statement is false:

Group of answer choices

A person should have a minimum salary which covers all the basic tax credits and other available deductions including for example a marriage deduction and RRSP maximum contribution

When net income is above $500,000 in a CCPC dividends should be paid out to lower the net income to $500,000 so that the high rate of taxation is avoided.

You must consider the cash needs in the corporation and the cash needs of the Shareholder in order to do proper tax planning

You must consider the time value of money related to the deferral of taxes

12-The purpose of transfer pricing legislation is to: Group of answer choices

to maximize the taxes on big multi-national companies only

to ensure that withholding taxes are paid for all companies

ensure that transfer prices between non-related persons are set at arms length

ensure that transfer prices between related persons are set at arms length prices