Question

please answer Q 20,21,22,23,24,25

Assessments And Appeals 20. Which of the following statements is NOT correct? A When the penson filing the returs has made any misrepresentati default, the normal reassessment period can be estended beyond 3 years. B. A taxpayer can choose to file a waiver to extend the 3 year time limit C. When a return has been reassessed once, no further reassessments are permimed on due to neglect, carelessness or wilful when reassessment within the normal period afflects a balance outside of the normal period 21. Which of the following is NOT one of the criteria that munst be met betfore an adjustment to a previous year tax returm is permimed? A. The CRA must be satisfied that the previous assessment was incorect B. The change is based on a saccessful appeal to the courts by another taxpayer taspayer's return was filed within 3 years of the end of the year to which it relatesi D. The reassessment must be made within the normal assessment period, or under certain permined extensions to this period 22. Tom Amold filed his 2015 tax reourn on March 1, 2016. The CRA mailed a notice of assessment to Tom dated May 15, 2016. and Tom received it on May 30. 2016. If Tom disagrees with the notice of assessment, what is the latest date he has to file a notice of objection? A. 90 days from March 1, 2016 B. 90 days from April 30, 2016 C. 90 drys from May 15, 2016 D. 90 days from May 30, 2016. E. None of the above 23. Misnie Belanger is netired. She filod her 2015 tax return on March 5, 2016 She received a portion of the tax refund claimed and an assessment sotice, dated April 19, 2016, which sct out the difference between the amount claimed and the amount of the refund As Minnie disagrees with the sotice of assessment, she wishes to file a notice of objection What is the latest date she has so file a sotice of objection? A. March s, 2017 B. April 19, 2017 C. April 30, 2017. D. July 18, 2016 E June 15, 2017 24. Marc Mayer filed his 2015 personal tax reture on March 1, 2016. Neither he nor his spouse has business income in any year. The CRA mailed a Notice of Assessment to Mare dated May 5, 2016 and Mare received it on 14, 2016. If Marc disagrees with the a Notice of Objection? May A. August 3, 2016 B. August 12, 2016 C. March 1, 2017 D. April 30, 2017 Tax Planning 25. Carice Martin is planning to sell a pliece of capital equipment which can be sold for more than its cost. If she waits until after her company's year end to seill it, she is engaging in A. tax evasion B. tax avoidance. C. GAAR D. tax planning

Answer 1

Dear student,

As per the HOMEWORKLIB POLICY, only the first four questions should be answered. Kindly take note of it.

20. option C

In special cases, the further reassessments are required and permitted too.

21. option B

The change is not simply on appeals, it requires necessary evidence in form of documents for assessment and verification. After proper analysis, required changes are introduced.

22. option D

Latest date of notice of objection:

The Later date from the following two dates:

One year after the return’s filing deadline (1 year after March 1, 2016 is March 1, 2017)

OR

90 days after the mailing the notice of assessment, (90 days after May 15, 2016 is August 13, 2016)

23. option A

The Later date from the following two dates:

One year after the return’s filing deadline (1 year after March 1, 2016 is March 1, 2017)

OR

90 days after the mailing the notice of assessment, (90 days after April, 2016 is July 18, 2016)