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Canadian Tax Principles 2017 2018 1st Edition Byrd Test Bank Full Download: https://alibabadownload.com/product/canadian-tax-principles-2017-2018-1st-edition-byrd-test-bank/

TEST ITEM FILE - PROBLEMS

Byrd & Chen's Canadian Tax Principles 2017 - 2018 Edition ISBN-0134822358 Copyright Š 2017 Clarence Byrd Inc. All rights reserved. This work is protected by Canadian copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning.

Problem Concordance A concordance of the problems in the 2016/17 vs. 2017/18 editions is available to assist instructors who have previously used Canadian Tax Principles.

Bookmarks In PDF File To assist you in navigating through the electronic version of this solutions manual, there are bookmarks on the first page of each Test Item File Problem.

Contact Information Comments and queries from instructors should be e-mailed to Ida Chen at: idachen@sympatico.ca If you have any further questions, please contact Spencer Snell, Customer Experience Manager, Pearson Canada, at: spencer.snell@pearson.com

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Test Item File Problem Listing

Subjects Covered By Test Item File Problems Chapter 1 Introduction Problem 1-1 1-2 1-3 1-4 1-5A 1-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

1-6 1-7

Application of qualitative characteristics Application of qualitative characteristics

25 26

1-8 1-9 1-10 1-11 1-12

Residency Residence Residence Residence Residence

27 28 29 30 31

1-13 1-14 1-15 1-16

Net Net Net Net

after departure from Canada of individuals of corporations of individuals and corporations of individuals and corporations

Income Income Income Income

For For For For

Tax Tax Tax Tax

Purposes Purposes Purposes Purposes

Page 1 3 5 15 21 23

32 33 34 35

Chapter 2 Procedures and Administration 2-1 2-2 2-3 2-4 2-5A 2-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

36 37 39 47 51 53

2-6 2-7 2-8 2-9 2-10

Individual Individual Corporate Individual Corporate

55 56 57 58 59

2-11 2-12 2-13

Individual tax instalments Corporate tax instalments Third party civil penalties

and corporate tax instalments tax instalments tax instalments tax instalments tax instalment

60 61 62

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Test Item File Problem Listing

Chapter 3 Income Or Loss From An Office Or Employment Problem 3-1 3-2 3-3 3-4 3-5A 3-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

Page 64 66 67 76 82 84

3-6 3-7 3-8 3-9 3-10

Bonus arrangements Employer owned vs. employee owned automobile Automobile benefits Automobile benefits Employee loans

86 87 88 89 90

3-11 3-12 3-13 3-14 3-15

Employee loans Employee stock options Employee stock options Alternative employment offers Commission income and work space in home costs

91 92 93 94 96

3-16 3-17

Commission income and work space in home costs Employment income

98 99

Chapter 4 Taxable Income And Tax Payable For Individuals 4-1 4-2 4-3 4-4 4-5A 4-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

101 103 104 110 117 119

4-6 4-7 4-8 4-9

Personal Personal Personal Personal

Cases Cases Cases Cases

121 122 124 125

4-10 4-11 4-12 4-13

Tax payable with employment income Comprehensive tax payable with employment income Comprehensive tax payable with employment income Comprehensive tax payable with employment income

126 128 130 132

tax tax tax tax

credits credits credits credits

-

5 7 6 5

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Test Item File Problem Listing

Chapter 5 Capital Cost Allowance Problem 5-1 5-2 5-3 5-4 5-5A 5-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

Page 134 136 137 144 150 152

5-6 5-7 5-8 5-9 5-10

Purchase and sale of goodwill CCA calculations over 4 years CCA calculations over 3 years CCA calculations over 3 years CCA calculations

154 155 156 157 158

5-11 5-12 5-13

CCA and tax planning CCA and tax planning CCA and CEC calculations

159 160 161

Chapter 6 Income Or Loss From A Business 6-1 6-2 6-3 6-4 6-5A 6-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

162 164 166 175 181 183

6-6 6-7 6-8 6-9 6-10

Reserves Work space in home costs and CCA Automobile costs and benefits Inventory valuation Deductible business expenses - corporation

185 186 187 188 189

6-11 6-12 6-13 6-14 6-15

Reverse comprehensive business income Business income - proprietorship Business income - proprietorship Business income with CCA Business income with CCA

190 192 193 195 196

6-16 6-17 6-18

ITA 22 accounts receivable election Comprehensive case (with coverage of preceding chapters) Comprehensive case (with coverage of preceding chapters)

198 199 201

iv


Test Item File Problem Listing

Chapter 7 - Income From Property Problem 7-1 7-2 7-3 7-4 7-5A 7-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

Page 204 205 206 214 219 220

7-6 7-7 7-8 7-9 7-10

Interest deductibility Rental income and CCA on rental properties Rental income and CCA on rental properties Rental income and CCA on rental properties Dividend vs. interest income

222 223 224 225 226

7-11 7-12 7-13 7-14 7-15 7-16

Property income - alternative investments Investments in income trusts and common stock Income trusts, mutual funds and foreign income Business vs. property income Comprehensive case (with coverage of preceding chapters) Comprehensive case (with coverage of preceding chapters)

227 228 229 230 231 233

Chapter 8 Capital Gains And Capital Losses 8-1 8-2 8-3 8-4 8-5A 8-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

235 237 239 251 257 258

8-6 8-7 8-8 8-9 8-10

Capital gains and losses - identical properties Warranties and bad debts Capital gains reserves Capital gains reserves Principal residence designation

260 261 262 263 264

8-11 8-12 8-13 8-14 8-15 8-16

Personal property dispositions Capital gains on foreign securities Court cases - identification of capital gains Change in use - depreciable property Deemed dispositions on departure from Canada Deferral on small business shares

265 266 267 268 269 270

8-17 8-18 8-19 8-20 8-21 8-22

Voluntary dispositions - with ITA 44(6) election Involuntary dispositions - no ITA 44(6) election Involuntary dispositions - no ITA 44(6) election Short cases on capital gains Comprehensive case (with coverage of preceding chapters) Comprehensive case (with coverage of preceding chapters)

271 272 273 274 275 277

v


Test Item File Problem Listing

Chapter 9 Other Income, Other Deductions, Income Attribution Problem 9-1 9-2 9-3 9-4 9-5A 9-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

Page 279 281 284 296 303 305

9-6 9-7 9-8 9-9 9-10

Death benefits Moving expenses Moving expenses Child care expenses Child care expenses

307 308 310 312 313

9-11 9-12 9-13 9-14 9-15

Pension income splitting with OAS Pension income splitting with OAS Other income and deductions including RESPs Non-arm’s length transfer of shares Non-arm’s length transfer of depreciable property

314 315 316 317 318

9-16 9-17 9-18 9-19 9-20 9-21

Deemed dispositions at death Deemed dispositions at death and departure from Canada Income attribution Income attribution Income attribution Comprehensive case (with coverage of preceding chapters)

319 320 321 322 323 324

10-1 10-2 10-3 10-4 10-5A 10-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

327 329 330 338 343 345

10-6 10-7 10-8 10-9 10-10

Calculation of PAs, PSPAs, and PARs Excess RRSP contributions vs. TFSA RRSPs, TFSAs, and Tax Planning RRSP contribution calculations RPP and RRSP contribution calculations

347 348 349 350 351

10-11 10-12 10-13 10-14 10-15 10-16

RRSP contribution calculations Net income and RRSP contribution calculations Employment income with RRSP Retiring allowances Comprehensive Case (with coverage of preceding chapters) Comprehensive Case (with coverage of preceding chapters)

352 353 354 355 356 358

Chapter 10 - Retirement Savings

vi


Test Item File Problem Listing

Chapter 11 Taxable Income And Tax Payable For Individuals Revisited Problem 11-1 11-2 11-3 11-4 11-5A 11-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

11-6 11-7 11-8 11-9 11-10

Losses and their carry over - individuals ABILs ABILs and lifetime capital gains deduction Transfer of credits and pension income splitting Alternative minimum tax

385 386 387 388 389

11-11 11-12

Alternative minimum tax Comprehensive personal tax payable Deceased and pension income splitting Comprehensive personal tax payable Comprehensive personal tax payable

390

11-13 11-14

Page 361 363 365 374 381 383

391 392 395

Chapter 12 Corporate Taxable Income And Taxes Payable 12-1 12-2 12-3 12-4 12-5A 12-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

397 399 401 410 417 419

12-6 12-7 12-8 12-9 12-10 12-11

Schedule 1 adjustments Corporate taxable income Corporate taxable income Corporate loss carry forwards Corporate loss carry forwards - 1 year Corporate loss carry forwards - 4 years

421 422 423 425 426 427

12-12 12-13 12-14 12-15 12-16 12-17

Geographical allocation of income Part I tax with reduced small business deduction Corporate tax payable Corporate tax payable with foreign tax credit Corporate tax payable with M&P deduction Comprehensive corporate tax payable

428 429 430 431 432 433

vii


Test Item File Problem Listing

Chapter 13 Taxation Of Corporate Investment Income Problem 13-1 13-2 13-3 13-4 13-5A 13-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

13-6 13-7 13-8 13-9 13-10

Integration example Part I and Part IV refundable taxes Simple Part I tax with ART Part I and Part IV refundable taxes, GRIP Part I and Part IV refundable taxes

455 456 457 458 459

13-11 13-12 13-13 13-14 13-15

Part I tax (simple) with Part I tax (simple) with Tax payable with SBD, Tax payable with SBD, Tax payable with SBD,

460 461 462 464 466

SBD, SBD, ART, ART, ART,

ART, M&P, FTC, and GRR ART, M&P, FTC, and GRR M&P, FTC, GRR, and GRIP M&P, FTC, GRR, and GRIP M&P, FTC, GRR, and GRIP

Page 435 437 439 446 451 453

Chapter 14 Other Issues In Corporate Taxation 14-1 14-2 14-3 14-4 14-5A 14-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

467 469 471 480 488 490

14-6 14-7 14-8 14-9 14-10

Acquisition of control - losses Acquisition of control - losses Associated companies Associated companies Investment tax credits

492 493 494 495 496

14-11 14-12 14-13

Capital dividend account Corporate surplus distribution Corporate surplus distributions

497 498 499

viii


Test Item File Problem Listing

Chapter 15 Corporate Tax And Management Decisions Problem 15-1 15-2 15-3 15-4 15-5A 15-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

Page 500 502 503 511 518 520

15-6 15-7 15-8 15-9 15-10 15-11

Flow through of interest income Flow through of dividend income Flow through of interest income Flow through of dividend income Incorporation vs. partnership Incorporation of investment income

522 523 524 525 526 527

15-12 15-13 15-14 15-15 15-16

Shareholder loans Shareholder loans Salary vs. dividend - required amount Salary vs. dividend - optimum mix Salary vs. dividend - optimum mix

528 529 530 531 532

Chapter 16 Rollovers Under Section 85 16-1 16-2 16-3 16-4 16-5A 16-5B 16-6

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate) Transfers to a corporation vs. direct sale

533 535 537 545 550 552 554

16-7 16-8 16-9 16-10 16-11 16-12

Section 85 rollovers - short cases ACB of consideration and PUC Depreciable Asset Transfer - Three Cash Transfer to a corporation - depreciable property Transfers to a corporation and sale/redemption of shares Transfers to a corporation and sale of shares

555 556 557 558 559 560

16-13 16-14 16-15 16-16 16-17 16-18

Transfers to a corporation and sale/redemption of shares Transfers to a corporation and sale of shares Gift to related party - Section 85 Excess consideration Dividend stripping Capital gains strips

561 562 564 566 567 568

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Test Item File Problem Listing

Chapter 17 Other Rollovers And Sale Of A Business Problem 17-1 17-2 17-3 17-4 17-5A 17-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

17-6 17-7 17-8 17-9 17-10

Section Section Section Section Section

17-11 17-12 17-13

Winding-up of a corporation Sale of assets Sale of assets vs. shares

85.1 share for share exchange 86(1) share exchange 86(1) share exchange 86 reorganization with gift 86(1) reorganization

Page 569 571 573 582 587 589 591 592 593 594 595 596 597 599

Chapter 18 Partnerships 18-1 18-2 18-3 18-4 18-5A 18-5B

Essay question True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

601 603 605 614 620 622

18-6 18-7 18-8 18-9 18-10

Existence of partnership Partnership income allocation Partnership income allocation Partnership income allocation with ACB Withdrawal of a partner

624 625 627 628 630

18-11 18-12 18-13 18-14

Limited partnership Limited partnership Transfer of partnership to a corporation Partnership income allocation and sale of interest

631 632 633 634

x


Test Item File Problem Listing

Chapter 19 Trusts And Estate Planning Problem 19-1 19-2 19-3 19-4 19-5A 19-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

19-6 19-7 19-8 19-9 19-10 19-11

Property transfers to and from trusts Trusts and income splitting Inter vivos trusts - tax payable Graduated Rate Estates - transfers and tax payable Inter vivos trusts - tax payable Graduated Rate Estates - transfers and tax payable

Page 635 637 639 648 654 656 658 659 660 661 662 663

Chapter 20 Issues In International Income 20-1 20-2 20-3 20-4 20-5A 20-5B

Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

664 665 667 672 676 678

20-6 20-7 20-8 20-9 20-10

Part I tax on non-residents Part XIII tax on non-residents Emigration - part year resident - net income Departure from Canada Foreign investment reporting rules

680 681 682 683 684

20-11 20-12

Foreign source investment income Foreign source dividends received by an individual

685 686

xi


Canadian Tax Principles 2017 2018 1st Edition Byrd Test Bank Full Download: https://alibabadownload.com/product/canadian-tax-principles-2017-2018-1st-edition-byrd-test-bank/ Test Item File Problem Listing

Chapter 21 GST/HST Problem 21-1 21-2 21-3 21-4 21-5A 21-5B

Subject Essay questions True or false Multiple choice (Sorted by topic) Exam exercises Key term matching (Easy) Key term matching (Moderate)

21-6 21-7 21-8 21-9 21-10

Turnover tax vs. GST GST registration HST on real property purchase HST input tax credits Regular GST return

708 709 710 711 712

21-11 21-12 21-13 21-14 21-15

HST payable Quick method GST payable including quick method Employee HST rebate including CCA Streamlined HST input tax credits

713 714 715 716 717

21-16 21-17

Regular and streamlined HST return New housing rebate

718 719

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Page 687 689 691 699 704 706

xii

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Canadian Tax Principles 2017 2018 1st Edition Byrd Test Bank  

Full download : https://alibabadownload.com/product/canadian-tax-principles-2017-2018-1st-edition-byrd-test-bank/ Canadian Tax Principles 2...

Canadian Tax Principles 2017 2018 1st Edition Byrd Test Bank  

Full download : https://alibabadownload.com/product/canadian-tax-principles-2017-2018-1st-edition-byrd-test-bank/ Canadian Tax Principles 2...

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