Of the following statements related to liability for Canadian income tax, which statement is NOT correct? D (A) Corporations must use the calendar year as their taxation year. B Part I tax is assessed on residents of Canada. Part I tax is assessed on Canadian employment income earned by a non-resident. As used in the ITA, the term person refers to individuals, trusts, and corporations.

Of the following statements related to liability for Canadian income tax, which statement is NOT correct? D (A) Corporations must use the calendar year as their taxation year. B Part I tax is assessed on residents of Canada. Part I tax is assessed on Canadian employment income earned by a non-resident. As used in the ITA, the term person refers to individuals, trusts, and corporations.

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