I - True and False The CRA completes a Notice of Assessment, which contains...
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Accounting
I True and False The CRA completes a Notice of Assessment, which contains the amount, if any, of taxes to be paid or refunded after processing a return. Taxable Income is the actual tax base upon which an income tax liability or refund is based. The principal objective of the income tax system is to raise revenues for government to provide services. The Canadian tax system does not charge income tax to those not resident in Canada nonresidents if they earn Canadian sources of income. Individuals who carry on a business as a sole proprietor or as a member of a partnership in a year must file their tax return for a particular year on or before April of the following year. II Match the following statements Refunds Notice of Objection Tax Evasion Penalty Tax avoidance A Ignoring the Canadian tax system intentionally B Tax Liability is less than taxes withheld. C failure to file a return on time. D Tax planning done within the letter of law E days after NOANORA or year after filing. 
I True and False
The CRA completes a Notice of Assessment, which contains the amount, if any, of taxes to be paid or refunded after processing a return.
Taxable Income is the actual tax base upon which an income tax liability or refund is based.
The principal objective of the income tax system is to raise revenues for government to provide services.
The Canadian tax system does not charge income tax to those not resident in Canada nonresidents if they earn Canadian sources of income.
Individuals who carry on a business as a sole proprietor or as a member of a partnership in a year must file their tax return for a particular year on or before April of the following year.
II Match the following statements
Refunds
Notice of Objection
Tax Evasion
Penalty
Tax avoidance
A Ignoring the Canadian tax system intentionally
B Tax Liability is less than taxes withheld.
C failure to file a return on time.
D Tax planning done within the letter of law
E days after NOANORA or year after filing.
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