Question
Question 1 Which of the following statements with respect to the Political Contributions tax credit is correct? The tax credit is calculated by multiplying the
Question 1
Which of the following statements with respect to the Political Contributions tax credit is correct?
| The tax credit is calculated by multiplying the base amount by 15%. |
| The tax credit is only available on contributions to a leadership contestant. |
| Eligible contributions in excess of $1,275 do not generate additional tax credits. |
| This tax credit is applicable to both individual and unincorporated associations. |
Question 2
There is no limit on the amount of current year tuition fees tax credit that can be transferred to a spouse,
| True |
| False |
Question 3
Keigan is self-employed. He might be eligible for all of the following tax credits except for the:
| EI tax credit |
| Canada Employment tax credit |
| CPP tax credit |
| All of the above |
Question 4
Which of the following statements with respect to the Canada Caregiver Tax Credit is true?
| There is a requirement that the infirm dependent must live in the caregiver's home. |
| In all cases the infirm dependent must be a resident of Canada. |
| Only one credit will be available for each infirm dependent. |
| If there is more than one caregiver, each caregiver will be entitled to the full credit. |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started