8. Capital Cost Allowance cannot increase a loss from rental propertyTrueFalse9. On July 1, 2019, Heisenberg acquires a newly issued debt instrument with a maturity value of $59,779. It matures on June 30, 2024 and pays interest at an annual rate of 4.5%. Payment for the first two and a half years of interest is due on December 31, 2021 with interest for the remaining two and a half years payable on the maturity date. What is the total interest Heisenberg will include in her tax returns for 2019 and 2020 (in other words, the sum of the interest required to be included in her taxable income in 2019 and the interest required to be included in her taxable income in 2020)?10. The cost of having a safety deposit box to hold investments is no longer deductibleTrueFalse11. Interest earned in a tax-free savings account is taxableTrueFalse12. Azeem purchased a residential rental property on April 20, 2019. He paid $300,000 cash for the building and paid an additional $540 for eligible rental expenses during 2019. He rented the property on May 1 to long term tenants for $1,400 per month. On his 2019 tax return he should report net rental income of:13. When calculating taxable property income for a rental property owned by an individual, which of the following should never be included in the calculation?

8. Capital Cost Allowance cannot increase a loss from rental property True False 9. On July 1, 2019, Heisenberg acquires a newly issued debt instrument with a maturity value of $59,779. It matures on June 30, 2024 and pays interest at an annual rate of 4.5%. Payment for the first two and a half years of interest is due on December 31, 2021 with interest for the remaining two and a half years payable on the maturity date. What is the total interest Heisenberg will include in her tax returns for 2019 and 2020 (in other words, the sum of the interest required to be included in her taxable income in 2019 and the interest required to be included in her taxable income in 2020)? 10. The cost of having a safety deposit box to hold investments is no longer deductible True False 11. Interest earned in a tax-free savings account is taxable True False 12. Azeem purchased a residential rental property on April 20, 2019. He paid $300,000 cash for the building and paid an additional $540 for eligible rental expenses during 2019. He rented the property on May 1 to long term tenants for $1,400 per month. On his 2019 tax return he should report net rental income of: A $10,660 B Nil C $4,660 D S(7,340) 13. When calculating taxable property income for a rental property owned by an individual, which of the following should never be included in the calculation? A Half year rule Terminal loss C Short fiscal period rule D Accelerated Investment Incentive