Individual taxpayers are considered Canadian residents if ________. Choose the correct answer. A. they maintain primary...
Individual taxpayers are considered Canadian residents if ________. Choose the correct answer.
A. they maintain primary residential ties in Canada, whether they live in Canada or abroad
B. they invest in the Canadian stock market or conduct business in Canadian dollars
C. they are Canadian citizens
D. they have ever filed a Canadian resident tax return
Homework Answers
Answer is A. They maintain primary residential ties in Canada, whether they live in Canada or abroad.
Explanation: The residential status of an individual in Canada is mainly dependent on primary residential ties of that individual in canada. He must have a stay in Canada for atleast 183 days in previous year so as to have a status of Canadian Residents.
Add Answer to:
Individual taxpayers are considered Canadian residents if
________. Choose the correct answer.
A. they maintain primary...
Whether an individual is a resident or non-resident for Canadian tax purposes ________. Choose the correct...
Whether an individual is a resident or non-resident for Canadian tax purposes ________. Choose the correct answer. A. is determined by the individual's citizenship B. is not easily determined for all individuals C. is determined solely on the basis of where an individual lives D. is clearly defined in ITA 250 in the Income Tax Act
1) Mr. and Mrs Smith are considered residents of Canada for tax purposes They have asked...
1) Mr. and Mrs Smith are considered residents of Canada for tax purposes They have asked you )On what date must Mr. Smith's tax obligation for 2015 tax year be paid? b) On what date must Mr. Smith fille his tax return by? c) On what date must Mrs Smith's tax obligation for 2015 tax year be paid? d) On what date must Mrs. Smith file her tax return by? Additional information is as follow Mr. Smith's Source of income...
[The following information applies to the questions displayed below.] In the largest criminal tax case ever...
[The following information applies to the questions displayed below.] In the largest criminal tax case ever filed, KPMG admitted it engaged in a fraud that generated at least $11 billion dollars in phony tax losses, which, according to court papers, cost the United States at least $2.5 billion dollars in evaded taxes. In addition to KPMG's former deputy chairman, the individuals indicted included two former heads of KPMG's tax practice and a former tax partner in the New York City...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as...
Gleim 6 Deductions from AGI [1] Which one of the following expenses does not qualify as a deductible medical expense? A. Cost of long-term care for a developmentally disabled person in a relative’s home. B. Special school for a deaf child to learn lip reading. C. Cost of elevator installed for individual who had heart bypass surgery (in excess of increase in value of individual’s home). D. Cost and care of guide dogs used by a blind person in his...
SYNOPSIS The product manager for coffee development at Kraft Canada must decide whether to introduce the...
SYNOPSIS The product manager for coffee development at Kraft Canada must decide whether to introduce the company's new line of single-serve coffee pods or to await results from the product's launch in the United States. Key strategic decisions include choosing the target market to focus on and determining the value proposition to emphasize. Important questions are also raised in regard to how the new product should be branded, the flavors to offer, whether Kraft should use traditional distribution channels or...
e-Business Strategy and Models in Banks : Case of Citibank E-business strategy in Citibank: Banks today...
e-Business Strategy and Models in Banks : Case of Citibank E-business strategy in Citibank: Banks today are up-to-date with both the pros and cons of the internet. They are aware of the opportunities and threats that are associated with the Web. Not a single traditional bank is brave enough to face investment analysts without an Internet strategy. But even a very thoughtful approach to the Web may do no good to the company/ organization. The main purpose behind launching online...
Q.3\ How could IT/e-banking assist an organization/ a bank to achieve a competitive advantage in the...
Q.3\ How could IT/e-banking assist an organization/ a bank to achieve a competitive advantage in the marketplace? Explain through the case of Citibank. please make sure you give a unique answer (not copied one) ,Please no hand writing, and need references. This question is from ECOM 421 e-Business Strategies and Business Models course e-Business Strategy and Models in Banks : Case of Citibank E-business strategy in Citibank: Banks today are up-to-date with both the pros and cons of the internet....
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first...
Comprehensive Income Tax Course: Module 1 4. Randy turned 16 last year and had his first summer job. Even though his parents are claiming him as a dependent he wants to file a return in order to get his refund. He receives his W-2 and decides he can do his own return using form 1040-EZ. Which of the following information is not found on a Form W-2? a) The taxpayer’s Social Security number b) The taxpayer’s wages, tips and other...
TRUE/FALSE ___1. A reference to “RCW 4.12.020" means that a statute can be found on page...
TRUE/FALSE ___1. A reference to “RCW 4.12.020" means that a statute can be found on page 12 of volume 4 of the Revised Code of Washington, part 20. ___2. The United States Congress has adopted one particular approach to ethics, and made it a part of the United States Code; all United States businesses must follow only those statutes in the United States Code, and are not allowed to determine what their businesses’ approaches to ethics will be. ___3. An...
Please read the article and answer about questions. You and the Law Business and law are...
Please read the article and answer about questions. You and the Law Business and law are inseparable. For B-Money, the two predictably merged when he was negotiat- ing a deal for his tracks. At other times, the merger is unpredictable, like when your business faces an unexpected auto accident, product recall, or government regulation change. In either type of situation, when business owners know the law, they can better protect themselves and sometimes even avoid the problems completely. This chapter...
1) Mr. and Mrs Smith are considered residents of Canada for tax purposes They have asked you )On what date must Mr. Smith's tax obligation for 2015 tax year be paid? b) On what date must Mr. Smith fille his tax return by? c) On what date must Mrs Smith's tax obligation for 2015 tax year be paid? d) On what date must Mrs. Smith file her tax return by? Additional information is as follow Mr. Smith's Source of income...
SYNOPSIS The product manager for coffee development at Kraft Canada must decide whether to introduce the company's new line of single-serve coffee pods or to await results from the product's launch in the United States. Key strategic decisions include choosing the target market to focus on and determining the value proposition to emphasize. Important questions are also raised in regard to how the new product should be branded, the flavors to offer, whether Kraft should use traditional distribution channels or...
Most questions answered within 3 hours.
-
Although Epicurus advocates pursuing pleasure for the
good life, discuss a few reasons why he does...
asked 7 minutes ago -
Problem 1: Present entries to record the selected transactions
described below:
(a)
Issued $2,790,000 of 5-year,...
asked 13 minutes ago -
Using technology to support HR activities increases:
a.
the efficiency of the administrative HR functions.
b....
asked 14 minutes ago -
1. List the features used to classify leaf
types.
2. List some characteristics that are shared...
asked 19 minutes ago -
The three elements of Value Proposition, Key Customers, and
Capabilities operate within an environment. Which of...
asked 21 minutes ago -
Katelynn, a physician, earns $200,000 from her medical practice
in the current year. She receives $45,000...
asked 29 minutes ago -
Each row of the table below describes an aqueous solution at
25°C
.
The second column...
asked 33 minutes ago -
A horizontal wire is at y = 0. Current travels in the +x
direction. The magnetic...
asked 34 minutes ago -
Let X be a continuous random variable whose PDF is Let X be a
continuous random...
asked 55 minutes ago -
Martinez Company’s relevant range of production is 7,500 units
to 12,500 units. When it produces and...
asked 53 minutes ago -
A football with a mass of 1.2 kg is kicked from ground level to
a height...
asked 58 minutes ago -
Remember: Changes in supply determinants shift supply, and
changes in demand determinants shift demand. We say...
asked 57 minutes ago