Fido Wi-Fi 9:08 AM Moodle Chapter 1-4 What are 4 possible controllable variables that may be considered when tax planning? a) Type of income, type of expense, type of deduction, Employment income, business income, property Type of income, entity structure, jurisdiction, and Tax rate, interest rate, exchange rate, and rate of and type of tax b) income, and capital gains c) timing d) return 2. Which are the 3 entities required to pay income tax? a) Idividual, trust, and corporation b) Proprietorship, partnership, and a corporation c) Individual, partnership, and corporation d) Proprietorship, trust, and limited partnership 3. Bob operates a business as a proprietorship. Last year he earned S56,000. He also had a capital gain of S12,000 and a capital loss of $20,000. He also had rental losses of $4,000. Calculate his net income for tax purposes in accordance with Section 3 a) $52,000 b) $48,000 c) $44,000 d) Nil 4. Francis had a loss on her rental business of $36,000 last year. She earned $23,000 in employment income. She had a capital gain of $32,000. Calculate her net income for tax purposes in accordance with Section 3 a) $(13,000) b) 3,000 c) 16,000 d) S19,000 5. Section 5 describes employment income as made up of