Question 1 (1 point) Chad and Jason Roberts paid $8,500 during the year for childcare for their three children, aged 2, 6 and 11. Chad's annual salary was $12,000 and Jason's annual salary was $42,000. Chad can deduct the $8,500 paid from his income. a) True b) False Question 2 (1 point) The entire amount of retiring allowance received must be included in income, even if some part of the allowance was transferred to an RRSP. a) True b) False Question 3 (1 point) The amount earned in a Tax Free Savings Account (TFSA) is not subject to taxation; however, the withdrawals from a TFSA are taxed in the hands of the recipient. a) True b) False