QUESTION #4 - TRUE OR FALSE. CIRCLE THE CORRECT ANSWER (10 MARKS) 1. A partnership can be a taxable entity for income tax purposes. True or False 2. Normally, without regard to whether an individual's filing due date is April 30 or June 15, any balance of tax owing must be paid by April 30. True or False 3. Fred is being transferred by his employer from Toronto to Ottawa. i. His airfare from Toronto to Ottawa is a deductible moving cost. True or False ii. Before moving into their new home, Fred had to pay $800 to repair faulty wiring. The $800 is a deductible moving cost. True or False iii. Fred paid $2,000 in legal fees to sell their Toronto home and $800 in legal fees to buy their new home in Ottawa. The total $2,800 in legal fees is a deductible moving cost. True or False 4. Interest on debt incurred to acquire equity securities is only deductible if the securities have a history of paying regular dividends. True or False 5. Recapture of Capital Cost Allowance (CCA) occurs when there is a negative balance in the class at the end of the year. True or False