Question 3(1 point)

If the lower income spouse was in the hospital for 3 months the hire income spouse would be able to deduct a periodic amount for childcare costs for this period.

True or False

Question 4(1 point)

George Enright gives securities to his 15 year old son.If the securities are sold in the following year for more the fair market value at the time of the gift, the resulting capital gain will be taxed in the hands of Mr. Enright.

True or False

Question 5(1 point)

A father gives $30,000 in securities to his 19 old daughter who is living at home.Any dividends declared on the securities will be attributed to the father.

True or False

Question 6(1 point)

A widow received a deathbenefit from her husband's employer of $25,000.She includes the full $25,000 in other income in the year she received the death benefit.

True or False

Question 7(1 point)

For the purposes of deducting child care costs , an 'eligible child' must be under 16 at some time during the tax year.

True or False

Course- Canadian taxation