Sheena is a citizen of Jamaica currently living and working in Canada. All of the following statements are applicable to her tax liability except: A. If she sends her income to Jamaica, she is liable to pay tax on the income. B. She would only pay taxation on her income in Canada and not liable to taxes in Jamaica. C. If she lives in Canada for a period of 183 days or more, she is liable to pay tax on her income in Canada. D. The double taxation agreement between Jamaica and Canada would provide tax relief on income.

Sheena is a citizen of Jamaica currently living and working in Canada. All of the following statements are applicable to her tax liability except: A. If she sends her income to Jamaica, she is liable to pay tax on the income. B. She would only pay taxation on her income in Canada and not liable to taxes in Jamaica. C. If she lives in Canada for a period of 183 days or more, she is liable to pay tax on her income in Canada. D. The double taxation agreement between Jamaica and Canada would provide tax relief on income.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions

Section: Chapter Questions

Problem 13DQ

See similar textbooks

Similar questions

Monica, a self-employed taxpayer, travels from her office in Boston to Lisbon, Portugal, on business. Her absence of 13 days was spent as follows: a. For tax purposes, how many days has Monica spent on business? b. What difference does it make? c. Could Monica have spent more time than she did vacationing on the trip without loss of existing tax benefits? Explain.
. Of the following individuals who would be a resident or deemed resident of Canada for tax purposes this year? Alex is a U.S. citizen who commutes each day to Canada for employment purposes. Bob is a U.S. citizen who lives in Canada during the week for employment purposes but returned to the U.S. on weekends to the house he shares with his wife and children. Charles is a Canadian citizen who lived in Toronto until March of last year, at which time he left for a 4-year aid-mission in Africa under an agreement with the Canadian International Development Agency. Derrick is a Canadian citizen who goes to school in the US for 8 months of each year but returns to Canada to live with his parents each summer. Alex and Bob Alex, Bob and Charles Bob, Charles and Derrick All of the above None of the abovE
Which of the following statements relating to the tax treatment of an employee is FALSE? (i) Christina, an Australian, is engaged to work in Singapore from 18 November 2020 to 31 December 2020. During the same period, she derived interest income from a loan given to a company in Singapore. All of her income sourced in Singapore will be tax exempt in YA 2021 since she exercised employment in Singapore for not more than 60 days in year 2020.(ii) Amy, a Singaporean, was seconded to work with a subsidiary company in Malaysia for 1 year, starting from 1 January 2020. For the Year of Assessment 2021, she will still be considered as tax resident in Singapore since her absence from Singapore is temporary.(iii) Xiao Ping, from China, commenced her employment with a Singapore company on 1 August 2020 and her contract will end on 30 January 2021. She is not required to travel outside of Singapore for work purposes. She arrived in Singapore on 15 July 2020 to settle in as well as to do some…
USE CANADA TAX Required: Determine the maximum amount of 2018 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal Tax Payable by the taxpayer in each of the following independent Cases. A calculation of Tax Payable is NOT required. Mr. Holm has Net Income for Tax Purposes of $55,000, all of which is investment income. He is single and provides support for his mother. His mother is a widow who resides in Latvia and has income of $1,100 per year. Mrs. Thomas has Net Income for Tax Purposes of $250,000, all of which is employment income. Her employer has withheld and remitted the required EI and CPP amounts. Mrs. Thomas was married on December 1, 2018. Her wife, a nursing student, had salary of $21,000 for the period from January 1 to November 30, 2018 and $3,200 for the month of December 2018. Mr. Jackson has Net Income for Tax Purposes of $75,000, all of which is rental income. He lives with his common-law wife and…
Which of the following taxpayers is ineligible to claim the American Opportuniy Tax Credit? A taxpayer who: 1) is enrolled at a Military Academy. 2) is 26 years old. 3) has AGI of $55,000. 4) Uses the single filing status.
Frank moved to Canada from Germany on February 20, 2020. Which of the following accurately describes Frank's tax status for 2020?| (a) Frank will be taxed in Canada on all his worldwide income earned in 2020 because the time he spent in Canada exceeds 183 days. (b) Frank will be taxed in Canada on all his worldwide income earned in 2020, multiplied by the number of days spent in Canada and divided by 365. (c) Frank will be taxed in Canada on all his worldwide income earned from February 20, 2020 to December 31, 2020, except for gains or losses on the sale of capital property owned prior to entering Canada. (d) Frank will be taxed in Canada on all his worldwide income earned from February 20, 2020 to December 31, 2020.
Peter is a dual citizen of US and Canada residing in Canada. He is single. In 2019 he received $20K US Social Security and $40K distribution from registered retirement plan in Canada. What is Peter's AGI on US tax return?
A taxpayer who is domiciled in Virginia is forced to relocate to California under military orders. Their spouse joins them in the move. Are they considered residents of California and do they have California source income? Select one: O a. They are not considered residents of California and neither have California source income. b. They are considered nonresidents of California, but the wife is considered to have California source income for income earned in the state during and after the move. O c. They are both considered California residents because they live and work inside California and both have California source income. O d. They are both considered California residents because they live and work inside California, but the service member is not considered to have California source income.
Jenny is a student from Sweden who comes to Australia to study for a four-year bachelor’s degree in business. Jenny lives in rental accommodation near the university with fellow students and works part-time at the university social club as a waitress. After six months, she has to withdraw from her studies and return to Sweden because her mother is unwell.Required: With reference to legislation, cases and tax rulings, advise Jenny whether she is a resident of Australia for tax purposes
Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule) Required: a. How much federal tax will she owe? b. What is her average tax rate? c. What is her effective tax rate? d. What is her current marginal tax rate? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D How much federal tax will she owe? Note: Do not round intermediate calculations. Round "Federal tax to the nearest dollar 5148.000 Federal tax Required B >
Jessa is a resident of Australia and has a taxable income of $46639 for year ended 2019. Required: What is her Basic Income Tax Liability? Your answer should be inumerical only. eg 99999 Answer:
Paul is an Australian resident adult individual with a taxable income of $157520 for the income year. Worked out without any rounding, his basic income tax liability is: $29928.80 $43349.40 $47256.00 $51194.00 $58282.40 $None of the above. True or false:Tax planning is an arrangement that complies with the tax law generally, but one that attracts the operation of an anti-avoidance provision, whether specific or the general anti-avoidance provisions in Part IVA. True False