QUESTION 13

1. If a GST registered company operating in Ontario, purchases $40,000 worth of supplies, taxes included from a company in Nova Scotia ( HST rate in Nova Scotia is 15%), the company's Input Tax Credit on this transaction is

a. 4601.77

b. 6000.00

c. 5200.00

d. 5217.39

QUESTION 14

1. If a GST registered company in Ontario, transfers a personal computer to the company, to be used for business purposes, How much ITC would the company be entitled to claim?

Its original cost, including taxes, was $11,300.00. It is now worth 70% of that value.

a. 910.00

b. 1028.30

c. 1,300.00

d. 1 ,469.00

QUESTION 15

1. Who pays the Employers Health Tax (EHT)?

Choose the best answer.

a. Taxpayer and Companies

b. Taxpayer

c. Government

d. Companies

QUESTION 16

1. Who pays the WSIB premiums?

a. Government

b. Employer and Employee

c. Employee

d. Employer

QUESTION 17

1. When does a company have to prepare a T4?

a. Company fiscal year-end

b. February 28

c. After an employee is let go.

d. December 31

QUESTION 18

1. Do Indigenous Canadians have special arrangements for HST?

a. True

b. False