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1. Which of the following is not a taxable entity for Canadian income tax purposes?

A. Darklyn Ltd., a US resident corporation.

B. Ms. Sarah Bright, a Canadian resident.

C. Walters and Walters, a group of CMAs operating as a partnership.

D. The Martin family trust.

2. Which of the following types of taxes is not currently in use by the federal government of Canada?

A. Excise Taxes

B. Custom Duties

C. Head Tax

D. Transfer Tax

3. Jason Marks has to pay his tax by instalments as a result of his significant investment income. His net tax owing in 2008 was $13,600. In 2009, it was $15,000. His estimate for 2010 is $17,000. If he decides to pay his 2010 tax instalments according to the prior year option, how much should he pay on September 15, 2010?

A. $3,400.

B. $3,750.

C. $4,250.

D. $6,500.

4. For its 2016 taxation year, its first year of operation, Chinook Inc. filed its return three months late. The unpaid tax at the due date for the return was $2,500. This amount was not paid until the return was filed. What would its penalty be?

A. Nil.

B. $75.

C. $125.

D. $200.

5. Samantha Stewart, an individual whose only income resulted from pensions, did not file her 2012 return until August 31, 2013. Her net tax owing on her balance due day was $5,600, which she paid on April 30, 2013. This is her second offence in 2 years. How much of a late filing penalty will she incur?

A. $0.

B. $504.

C. $807.

D. $1,108.

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