Tax Elective 8 Flashcards
1
Q
Income due to Stock options from a CCPC are taxed when.
A
When stocks are disposed of.
2
Q
Income due to Stock options from a public company are taxed when.
A
When exercised.
3
Q
CCA for Class 14
A
Straight Line over life
4
Q
Which tax credits are transferrable for baby boomers?
A
Age amount and pension amount
5
Q
How much in ancillary fees can students claim?
A
$250 whether or not paid by everyone
6
Q
Are there refundable or non refundable tax credits available for employee portion of CPP and EI?
A
non refundable
7
Q
Corporate dividend refund is limited to how much?
A
Tax payable for the year.
