Given that private corporations can select any date within the year as their year-end date, when is
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Question:
- 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? _____________
- 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 ______________ .
- 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? ___________
- 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
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