Question

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 penalty for intentionally disregarding the Income Tax Act and understating tax? Choose the correct answer A. the greater of $100 and 50% of the understated tax B. the lesser of $1,000 and 50% of the understated tax C. 50% of the understated tax D. $200 43. The main purpose of the general anti-avoidance rule (GAAR) is to A. provide legislation that can be used to enforce the concept of tax avoidance. B. provide legislation that can be used to enforce tax evasion. C. provide a definition for the term "tax avoidance" D. provide legislation that can be used to apply civil penalties on taxpayer's guilty of tax evasion 44. If an individual taxpayer disagrees with the assessment or reassessment of their income tax return, the first step is to Choose the correct answer A file a formal objection to a notice of assessment (Form T400A) with Canada Revenue Agency B. contact Canada Revenue Agency to informally request a change to the income tax return. C. take the matter to the Tax Court of Canada under the informal procedure. D. appeal the assessment or reassessment at the Federal Court of Appeal.

Answer 1

Note: As HOMEWORKLIB RULES honor code if more then one question are asked only once question can be answered at at time I have solved here question 40 and 43 hope you understand

Answer 40 ; C. Tax Evasion

as

Tax evasion involves knowingly and willingly ignoring the tax laws

Answer 43

A. provide legislation that can be used to enforce the concept of tax avoidance.

as

GAAR rules are mainly formed to give real effect to the tax avoidance provisions or laws as some time tax payers such kind of tax arrangements that are actually tax avoiding but could not be brought under tax avoidance laws due to some definition problem of tax avoidance

hence the answer is

A. provide legislation that can be used to enforce the concept of tax avoidance.