QUESTION 9 Individuals are required to pay instalments: A When net tax owing is over $3,000 for any one of the past two years B. When net tax owing is over $3,000 for the current year and both of the two prior years C. When net tax owing is over $3,000 for the current year only D. When net tax owing is over $3,000 for the current year and one of the two prior years QUESTION 10 Which of the following items does not result in tax avoidance? A. Accelerated depreciation (CCA) on rental properties, B. Employer contributions to group disability plans. C. Use of the lifetime capital gains deduction. D. Employer contributions to private health care plans. QUESTION 11 Alberta has only 5% GST while Ontario has 13% HST. Which of the following will charge 13% HST? A An Alberta business sells and delivers goods to an Ontario customer through its website B. A business with its head office in Ontario sells inventory to its Alberta customer from its Alberta store C. An Ontario business sells its Alberta warehouse to an Ontario resident D. An Ontario CPA provides consulting services to a client in Alberta QUESTION 12 Input tax credits for GST are: A. The GST collected by a business on its revenues B. Can't be claimed on the purchase of capital assets C. Refunds of GST paid by a business on costs D. Claimed in the period where the inventory is sold, not when the inventory is purchased QUESTION 13 Which of the following could be required to file a GST returm? A Chan's Clothing Store (an unincorporated business) B. Min Chan (an individual) OC. The Chan Foundation (a registered charity) D. All of the above could be required to file a GST return. QUESTION 14 Which of the following amounts is NOT deducted in converting Net Income for Tax Purposes to Taxable Income? A. The excess of allowable capital losses over taxable capital gains for the year. B. An amount related to the exercise or sale of stock options. C. The lifetime capital gains deduction. D. Losses of other years. QUESTION 15 For corporations, the filing deadline for tax retums A the fiscal year end B. three months after the fiscal year end C. six months after the fiscal year end D. three months after the fiscal year end if the small business deduction is claimed, otherwise two months after the fiscal year end QUESTION 16 An individual is liable for income tax in Canada if he A. is a citizen of Canada. B. has lived in Canada at any time during the year. C. is a resident in Canada. D. All of the above are required.