1. Given that private corporations can select any date within the year as their year-end date, when is the tax payment deadline after the private corporation’s selected fiscal year end? _____________

2. Give any of the three factors that are considered by the CRA in determining if an employment relationship was under employee or self-employed for an individual: ________________, ______________ and ______________ .

3. Ms. Z was an employee with the following information from her employment in 2021.

Salaries and wages - $57,500

RRSP contribution in the final months of 2021 - $5,500

Membership dues paid by Ms. Z’s employer on her behalf - $500

What is Ms. Z’s net employment income for 2021? ___________

4. Barb earned rent income from her condo by renting the second room to someone during 2021. She lives in the other bedroom and plans to share the expenses 50% between the two (2) bedrooms in her condo. The rest of the details of the rent activities are as follows:

Rent income (12 months) $4,550

Repairs (Bathroom and Kitchen) $820

Utilities (100% for the condo) $1,080

Fixtures and decorations $350

Answer rating: 100% (QA)

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