________ is/are intended to provide operational details for administration of the Income Tax Act. Choose the correct answer.
A. Income tax regulations
B. International tax treaties
C. Court decisions
D. Draft legislation
________ is/are intended to provide operational details for administration of the Income Tax Act. Choose the...
is/are intended to provide operational details for administration of the Income Tax Act. Choose the correct answer. A. Income tax regulations O B. Court decisions O C. International tax treaties O D. Draft legislation Which of the following elements, within the organization and structure of the Income Tax Act, refers to a subparagraph of the Income Tax Act? Choose the correct answer. O A. uppercase Roman numeral O B. Arabic numeral ° C. lowercase letter in parentheses D. lowercase Roman...
40. involves knowingly and willingly ignoring the tax law. A. Tax abuse B. Tax planning C. Tax evasion D. Tax avoidance 41. What is the penalty to a tax return preparer who assists clients in engaging in evasive tax practices? Choose the correct answer. $100,000 B. two years in prison C. the greater of $1,000 and the penalty assessed on the tax return preparer's client for evading tax D. 50% of the amount of tax avoided 42. What is the...
Administrative or informative guides that can assist with filing an individual income tax return can be found ________. Choose the correct answer. A. within the Income Tax Act B. on Canada Revenue Agency's website C. within the narrative of court cases D. within the Income Tax Regulations
A primary purpose of international tax treaties is to ________. Choose the correct answer. A. establish diplomatic relations between Canada and other countries B. allow companies to operate tax-free outside of their home country C. encourage companies to establish international operations D. eliminate double taxation on the same income of a company
When a taxpayer disagrees with CRA's interpretation of the Income Tax Act, what options does the taxpayer have? Choose the correct answer. A. none, since the CRA's interpretation is final B. file a court case to have a court make the final decision C. ask for an interpretive ruling from the House of Commons D. escalate the issue to the Minister of Finance
According to the Income Tax Act, which of the following items is the starting point for computing net business income for tax purposes? Choose the correct answer. A. Sales revenue less cost of goods sold B. Net income for a business computed using generally accepted accounting principles (GAAP) C. Net income for a business as reported on the previous year's income tax return D. Gross sales revenues
Division ________ of the Income Tax Act deals with computing the net income for a taxpayer resident in Canada. Choose the correct answer. A.A B.C C.B D.D
Canadian individual income tax is an example of a(n) ________ tax system. Choose the correct answer. A. flat B. progressive C. aggressive D. regressive
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
Mindia LUZU Manpreet B Review Quiz: Chapter 3 Quiz Score: 1 of 1 pt Acco Question 3.1.1 1 of 14 Tes ses Whether or not an individual is an employee of a company or an independent contractor is Home ments Choose the correct answer A. determined by whether the company pays the individual as an employee or as an independent contractor B. easily determined by the legislation and clear rules in the Income Tax Act c. determined by the facts...