Spousal support payments are taxable and child support payments are not. True False Question 2 (1 point) A Registered Educated Savings Plan (RESP) is a tax deferred way for families to save for a child's post-secondary education. True False Question 3 (1 point) When spousal support payments are taxable for the recipient, the payments are deductible for the payer. True False Question 4 (1 point) For 2023, cumulative contributions to a Tax Free Savings Account (TFSA) are limited to a maximum of $6,000 for the year. True False The CPP enhanced contributions were designed by the Canadian government to help increase retirement income for working Canadians. True False Question 6 (1 point) Jim and Shirley Noonan decide to separate after ten years of marriage. They have no children. To keep the separation amiable, they decide not to involve lawyers or the courts at this stage. They have a written separation agreement in which Shirley agrees to pay Jim $500 per month until he remarries. The payments will be taxed in Jim's hands and will be deductible from Shirley's income. True False Question 7 (1 point) RESP contributions are tax deductible. True False Question 8 (1 point) An individual who is subject to the maximum CPP withholding of $3,499.80 can use that full amount as a federal tax credit when filing their 2022 personal tax return. True False Most scholarships are not taxable. True False Question 10 (1 point) Employment insurance benefits are taxable. True False Question 11 (1 point) For purposes of deducting child care costs, an "eligible child" must be under 16 at some time during the year. True False Question 12 (1 point) While earnings on assets held in a Tax Free Savings Account (TFSA) will not be taxed while the assets are in the plan, the accumulated income will be subject to tax when it is withdrawn from the plan. True False Interest earned on a bank account is considered a taxable capital gain. True False Question 14 (1 point) If the lower income spouse was in prison for the entire year, the higher income spouse would be able to deduct child care costs during this period. True False Question 15 (1 point) RRSP contributions are deductible but TFSA contributions are not.. True False