Which of the following items is NOT a taxable income deduction for an individual?

Worker's compensation payments received as a result of injury.

A current year business loss

A deduction for residing in a prescribed northern zone.

A net capital loss.

During the year, Ted Knight received worker's compensation payments totaling $$10,000$ as a result of an injury he suffered at work. His only other income for the year was employment income of $$25,000.$

Which one of the following represents Ted's net income and taxable income for the year?

Net Income $$25,000,$ Taxable Income $$25,000$

Net Income $$30,000,$ Taxable Income $$30,000.$

Net Income $$35,000,$ Taxable Income $$25,000.$

Net Income $$35,000,$ Taxable Income $$35,000$

Which of the following statements with respect to the calculation of an individual's income tax payable is correct?

Provincial and territorial income tax payable is calculated by applying progressive rates to federal income tax payable.

Income that is not subject to provincial or territorial income tax is subject to an additional tax at the federal level.

The provincial or territorial income tax rate is based on the province or territory in which the individual spends the most number of days in the taxation year.

The applicable income tax rate varies both with the amount of income tax payable and the type of income.

Which of the following statements is correct?

Net income minus federal tax credits equals taxable income.

Taxable income minus federal tax credits equals total federal income tax.

Total federal income tax minus federal tax credits equals federal income tax payable.

Net income minus federal tax credits equals federal tax payable.

Which of the following statements with respect to an individual's income tax payable is NOT correct?

Provincial or territorial income tax payable is calculated by applying the appropriate income tax rate to taxable income.

The relevant provincial or territorial income tax rate is based on the province or territory in which the individual resides on December $31$ of the year.

Only federal income tax applies with respect to individuals who are residents of Canada but who are not a resident in any province or territory.

All provinces and territories use the same income tax brackets.

With respect to claiming income tax credits for one's child, which of the following statements is NOT correct?

To claim the eligible dependant credit for a child, the child must be under the age of $18$ at some time during the year.

The Canada caregiver credit for a child under $18$ cannot be claimed if the parent is claiming the eligible dependant credit for that child.

An individual cannot claim the eligible dependant credit if they are living with, supporting, or being supported by a spouse.

To claim the eligible dependant credit for a child, the child does not have to be a resident of Canada, providedh they are living with the taxpayer.