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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.

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