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Need the answer asap SUBJECT: PERSONAL TAXATION THANK YOU Sue was born and raised in Halifax where her parents continue to live. Sue is one
Need the answer asap
SUBJECT: PERSONAL TAXATION
THANK YOU
- Sue was born and raised in Halifax where her parents continue to live. Sue is one of two children. Her brother Tony lives in London, England. Sue has been working as a computer engineer in Halifax for the last 2 years. In July of 2021 Sue accepted a position in Sydney Australia. She moved from Halifax to Australia on the 15th of July.
Which of the following accurately describes Sues tax status for the calendar year 2021?
- Sue will be taxed on her world income in Canada from January 1st.2021 to December 31st. 2021
- Sue will be taxed in Canada on all her world income from January 1st. 2021 to December 31st. 2021 except for gains or losses on the sale of capital property she disposed of before leaving Canada
- Sue will be taxed o all her world income earned in 2021 because the time she spent in Canada exceeded 183 days.
- Sue will be taxed on her world income for the period January 1st. 2021 to July 15th. 2021 and only on income earned in Canada for the period July 16th. 2021 to December 31st. 2021.
- When filing his 2021 tax return, John Brown deducted $12,000 for child care expenses which he paid to a daycare for his two children who were both below the age of 4. Both John and his spouse works fulltime.
Which of the following statements is true?
- The deduction is an example of tax avoidance
- The deduction is an example of tax evasion
- The deduction is an example of tax planning
- None of the above
- Mary lives in Crystal Beach, Ontario. She commutes daily to Niagara Falls, U.S.A. where she is employed by Canadian Immigration Services. She works daily from 9 a.m. to 5 p.m. and returns to Ontario once her day is completed.
Which of the following best describes Marys residency status for Canadian income tax purposes in 2021?
- She is a deemed resident of Canada
- She is a full-time resident in Canada
- She is a part-time resident in Canada
- She is a non-resident in Canada.
- Ranjit is employed as an engineer by the X Company which is located in the Alberta, Canada. Ranjit works on an oil rigg located in the Atlantic Ocean where X is exploring for oil and gas in the Atlantic. Under the terms of the contract Ranjit is entitled to two weeks holidays every three months of services He returns to visit his family in Canada during his holiday period and then returns back to the rigg. Ranjit is:-
- A full-time resident in Canada
- A non-resident of Canada
- A deemed resident of Canada
- A part-time resident of Canada.
- X Ltd, is a manufacturer of robotic equipment. The Company has developed an A.I. robot to assist in the preparation of food for the restaurant industry. The Company is expecting to generate considerable sales in the U.S.A. They plan to start off by test marketing the product in New York City. For this purpose, Monty Smith, the V.P. Marketing, was transferred to New York City on March 15th. 2021, They provided Monty with an apartment in Manhattan, N.Y. Montys salary was transferred to a U.S. bank account and Monty reported back to the C.E.O. in Canada.
Which of the following is true of Montys tax status in the U.S.A.
- Monty is a non-resident in the U.S. and will pay taxes only on income earned in the U.S.
- Monty is a full-time resident in the U.S. and will pay taxes on his world income in the U.S.
- Monty is a deemed resident of the U.S. but will not pay taxes on his world income in the U.S. because of the Canada -U.S. Tax Treaty
- None of the above.
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