Question
Mr. Levin dies on December 5, 2020. While he was an employee of a publicly traded Canadian company, he owned an unincorporated business which was
Mr. Levin dies on December 5, 2020. While he was an employee of a publicly traded Canadian company, he owned an unincorporated business which was managed by his common-law partner. What is the latest date for filing his 2020 income tax return?
Question 1 options:
June 5, 2021
June 15, 2021
June 30, 2021
April 30, 2021
Question 2(2 points)
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Lily Zhao is a commission salesperson who is required to have an office in her personal residence. Which of the following home office related costsCANNOTbe included in the amount that she deducts for this office?
Question 2 options:
Maintenance costs
Property taxes
Fire insurance
Interest on the mortgage
Question 3(2 points)
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Which of the following isNOTa taxable entity for income tax purposes?
Question 3 options:
John Lyton, a Canadian resident
The Lyton family trust
Lyton Inc., a Canadian private company
Joan Lyton, a Canadian citizen, living in Tokyo, Japan
Question 4(2 points)
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Sally Frampton has two Class 1 rental properties. Property 1 has a UCC at the beginning of the year of $550,000 and has net rental income before the deduction of CCA of $43,000. Property 2 has a UCC of $985,000 at the beginning of the year, but has incurred a net rental loss before CCA of $26,000. What is themaximum amount of CCAthat Sally can claim this year?
Question 4 options:
$39,400
$22,000
$17,000
$61,400
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