Q1. What is Property Income? What is included in calculation of Property Income?

Q2. Define CRA. What are its functions?

Q3. Who is a shareholder? Is he an internal stakeholder? What are the advantages of being a shareholder in a corporation?

Q4. What is the Federal tax bracket for 2022?

Q5. Answer the following in one word or sentence:

1. CRA comes under which jurisdiction?
2. What is the due date of filing taxes for an individual?
3. What are the mandatory deductions from payroll of an individual?
4. On which type of income can you get Capital gains?
5. What percentage of Capital gains are taxable?

Q6. Give any 3 points of differences between Personal and Corporate income taxes. 

Answer rating: 100% (QA)

Q1 Property Income is income generated from the ownership of real estate such as rent royalties and ... View the full answer