quiz # 5

Individual Filing Requirements of an individual incone tax return, which of the following statements is conrecn required to file an income tas returm if their only source of income is business i Wish respect to the filing A. An individual is even if no tax is payable B. An individwal the year. si is required to Gle an income tas return if they have reached the age of 18 by the end of has disposed of a capital property daring the year, they are required to file an incoome returm, even if no tax is payable individual is not required to file an income tas return if no tax is payable for the year a net business loss of 2. For t the 2015 tavation year, John Bookman had a taxable capital gain of $45,000 and a resulting in a Taxable Income of nil. Which of the following statements is correer? John is not required to file a tax return for 2015 B. John must file a tax return on or before June 15, 2016 C John D. Johm must file a tax return on or before April 30, 2016 must file a tax return on or before December 31, 2016 Barron is self-employed and plans to file his 2015 tax returm on June 15, 2016. His balance-d A April 30, 2015 B. April 30, 2016 C. June 15, 2016 D. June I5, 2015 3. John Barron is Bunly Im is a self-employed hairdresser. Which of the following dates are correct for the date by which his ta return for a year must be filed (Ist inem) and his payment due date (2nd item)? A April 30, April 30. B. June 15, April 30 C April 30, June 15 D. June 15, June 15 S. Ms. Deveco's 2015 income tax return is due on April 30, 2016. While she is too busy to file her tax return on that date, she remits a cheque to the government for $10,000, her estimated amount of net tax owing on that date. She has never filed a late return before. She prepares and files her tax return on May 31, 2016. At this time, the return shows that her actual net tax owing was $9,800. Assuming that the late payment of taxes is one-half percent per month without daily compounding, how much will she owe in penalties and interest on the late filing? A. $ 49 B. $490 C. $588 D. $637 interest rate applicable to Mt: Finlay, a retired individual Mr. Finlay, a individual what date must Mr. Finlay's final tax return be filed? source of 6. whose only source of income was pension receipts, dies on August 15, 2015. By A. April 30, 2016. B. February 28, 2016. C February 15, 2016. Individual Filing Requirements of an individual incone tax return, which of the following statements is conrecn required to file an income tas returm if their only source of income is business i Wish respect to the filing A. An individual is even if no tax is payable B. An individwal the year. si is required to Gle an income tas return if they have reached the age of 18 by the end of has disposed of a capital property daring the year, they are required to file an incoome returm, even if no tax is payable individual is not required to file an income tas return if no tax is payable for the year a net business loss of 2. For t the 2015 tavation year, John Bookman had a taxable capital gain of $45,000 and a resulting in a Taxable Income of nil. Which of the following statements is correer? John is not required to file a tax return for 2015 B. John must file a tax return on or before June 15, 2016 C John D. Johm must file a tax return on or before April 30, 2016 must file a tax return on or before December 31, 2016 Barron is self-employed and plans to file his 2015 tax returm on June 15, 2016. His balance-d A April 30, 2015 B. April 30, 2016 C. June 15, 2016 D. June I5, 2015 3. John Barron is Bunly Im is a self-employed hairdresser. Which of the following dates are correct for the date by which his ta return for a year must be filed (Ist inem) and his payment due date (2nd item)? A April 30, April 30. B. June 15, April 30 C April 30, June 15 D. June 15, June 15 S. Ms. Deveco's 2015 income tax return is due on April 30, 2016. While she is too busy to file her tax return on that date, she remits a cheque to the government for $10,000, her estimated amount of net tax owing on that date. She has never filed a late return before. She prepares and files her tax return on May 31, 2016. At this time, the return shows that her actual net tax owing was $9,800. Assuming that the late payment of taxes is one-half percent per month without daily compounding, how much will she owe in penalties and interest on the late filing? A. $ 49 B. $490 C. $588 D. $637 interest rate applicable to Mt: Finlay, a retired individual Mr. Finlay, a individual what date must Mr. Finlay's final tax return be filed? source of 6. whose only source of income was pension receipts, dies on August 15, 2015. By A. April 30, 2016. B. February 28, 2016. C February 15, 2016