Which of the following statements is true regarding the filing of an individual income tax return?

Question 3 options:

1)

An individual is required to file an income tax return when no tax is payable and his or her only source of income or loss is property income.

2)

An individual is required to file an income tax return every taxation year after reaching the age of 18.

3)

An individual is required to file an income tax return only if tax is payable in the year and he or she has disposed of capital property.

4)

An individual is required to file an income tax return only if tax is payable in the year.