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