Where does Employment Income show on the personal tax return?
100
Safe Deposit Box fee
What is an example of an expense that may be claimed against investment income?
100
Basic personal amount
What is the non-refundable personal income tax credit that everybody is entitled to?
100
Pages 1 through 4 of the return
What is the "Jacket" of the personal income tax return?
100
Gross Rental Income
What is on Line 160 of Page 1 of the Jacket?
200
Interest
What kind of income do fixed income investments generate?
200
Brokerage commission
What is an example of an "Outlay or Expense"?
200
Line 425 of Schedule 1
What Line item is the (federal) Dividend Tax Credit on?
200
Line 150
What Line item is total income on?
200
May only be applied against Capital Gains
What are net Capital Losses?
300
Proceeds of Disposition LESS Outlays & Expenses LESS Adjusted Cost Base ("ACB")
What is the formula for calculating Capital Gains or Capital Losses?
300
Borrowed funds used to invest
Where does an interest expense claim against investment income come from?
300
WITB
What is an example of a refundable personal income tax credit?
300
As a deduction from Net income to arrive at Taxable income
Where are Non-Capital or Net-Capital losses from previous years carried forward claimed on the personal tax return?
300
Forever
What is the carry forward period for unused net Capital Losses?
400
Interest and/or Dividend and/or Capital Gains
What kind of income can be "flowed-thru" from a Mutual Fund (or other trust type of investment)?
400
Average Costing
How do you track the Adjusted Cost Base of an asset?
400
13% x Grossed-up dividend
What is the calculation for the (federal) Dividend Tax Credit for a Non-Eligible Dividend (from a taxable Canadian corporation)?
400
"It is a serious offence to make a false return"
What does it say in the Certification section on Page 4 of the Jacket, where you sign your return?
400
Worldwide income
What income must Canadian resident taxpayers report and pay tax on?
500
Eligible Divdends
What kind of dividends are usually paid by taxable Canadian corporations?
500
Schedule 4
Where in the personal tax return do all investment related expenses show up (except for outlays & expenses related to capital gains/losses)?
500
Spouse or common-law partner amount
What is the personal non-refundable tax credit that can be claimed if you are married (or living with someone)?
500
April 30th
What is the balance due date for tax owing on a personal income tax return? (Or, "What is the filing due date for a personal income tax return without self-employment income?)
500
"Summary of disposition - Capital gains (or losses)"