True Or False

1. Prescription drugs, wheelchairs, and basic groceries are all examples of zero rated supplies.

2. Furniture, restaurant meals, and concert tickets are all examples of fully taxable supplies in Canada.

3. Furniture, basic groceries, and concert tickets are all examples of fully taxable supplies in Canada.

4. In a defined benefit plan, an employer agrees to provide a specified benefit, usually expressed as a percentage of earnings for each year of qualifying service.

5. Another name for a defined contribution pension plan is a money purchase pension plan

6. In order to make a non-taxable withdrawal from an RRSP under the Home Buyer's Plan, an individual must have bought or built a "qualifying home" within 5 years of the withdrawal date.

7. Financing (interest) costs to invest in an RRSP are not deductible.

8. If you move 30km closer to a new work location, you can deduct your moving costs

9. The annual maximum child care amount for a 14 year old child who is not infirm is $8,000.

10. In the calculation of child care earned income, gross employment income is not included.

11. An automobile can be considered listed personal propert

12. A stamp can be considered listed personal property

13. When a taxpayer receives government grants or other types of assistance, these amounts are generally added to the adjusted cost base of the related asset.

14. Charitable donations that have not yet been claimed as a credit can be carried forward for 7 years.

15. The employee stock option deduction, if applicable, is deducted in division B as a deduction against employment income.

16. On the disposition of listed personal property, the minimum proceeds of disposition is $1,000.

17. On the disposition of listed personal property, the minimum proceeds of disposition is $500.