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Question 1 The CRA colllects the federal/provincial and territorial income tax excet that of quebec. Question 1 options: True False Question 2 Taxable income is

Question 1

The CRA colllects the federal/provincial and territorial income tax excet that of quebec.

Question 1 options:

True
False

Question 2

Taxable income is net income minus certain allowable deductions and non-taxable amounts that the income Tax Act allows to be deducted from net income. It is important becuase it is the income on which tax is levied.

Question 2 options:

True
False

Question 3

What income must an ordinarily resident of Canada report on his or her tax return?

Question 3 options:

Federal/provincial income

Provincial Income

Federal Income

World Income for the entire year

Question 4

The taxation year of an individual is fiscal year.

Question 4 options:

True
False

Question 5

Efile is filing a tax return electronically through a registered electronic service provider. NETfile is filing a tax retrun electronically using the Internet.

Question 5 options:

True
False

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