3.1 Income Taxes

Canadians must file an income tax return every...

• day

• week

• month

• year

• decade

Most of the time, Canadians pay...

• the right amount of income tax

• too much income tax

• too little income tax

• too much or too little income tax

Which form helps employers to determine how much income tax should be deducted from each pay cheque?

• T1

• TD1

• T4

• T5

True or False? Being a caregiver of an adult relative can reduce the amount of income tax you pay.

• True

• False

True or False? Both parents can reduce their income tax by $2,038 per child each year.

• True

• False

A T4 slip outlines your annual...

• income

• deductions

• income & deductions

• income & donations

True or False? Each employer gives you a separate T4 slip.

• True

• False

Select all correct answers. On a T1 general form, these can affect your income tax amount:

• Disability Income

• Rental Income

• Universal Childcare Income

• Pension Income

• Moving Expenses