Problem 1: What is Property Income? What is included in calculation of Property Income?
Problem 2: Define CRA. What are its functions?
Problem 3: Who is a shareholder? Is he an internal stakeholder? What are the advantages of being a shareholder in a corporation?
Problem 4: What is the Federal tax bracket for 2022?
Problem 5: Answer the following in one word or sentence-
- CRA comes under which jurisdiction?
- What is the due date of filing taxes for an individual?
- What are the mandatory deductions from payroll of an individual?
- On which type of income can you get Capital gains?
- What percentage of Capital gains are taxable?
Problem 6: Give any 3 points of differences between Personal and Corporate income taxes.