Canadian Tax System Quiz

What is the main focus of the video?

• How to start a business in Canada

• The benefits of doing your taxes and what you need to get them done

• How to immigrate to Canada

• How to apply for student loans

Who is the main character whose tax journey is followed in the video?

• James

• Sasha

• Alex

• Maria

What is a Social Insurance Number (SIN) used for?

• To get a driver’s license

• To work in Canada and access government benefits

• To open a business

• To vote in elections

Where can you apply for a SIN if you don’t have one?

• At your school

• At Service Canada

• At the post office

• At the bank

What is the first form Sasha must fill out for their new job?

• T4 slip

• TD1 Personal Tax Credits Return

• T2202 slip

• GST/HST Credit form

What does the TD1 form determine?

• Your eligibility for student loans

• How much income tax is deducted from your pay

• Your health insurance coverage

• Your employment insurance rate

What is the difference between gross pay and net pay?

• Gross pay is after deductions; net pay is before deductions

• Gross pay is before deductions; net pay is after deductions

• They are the same

• Net pay includes bonuses

Which of the following is NOT a common deduction from your paycheck?

• Income tax

• Employment Insurance (EI)

• Canada Pension Plan (CPP)

• Sales tax

What is a T4 slip?

• A form for tuition fees

• A statement of employment income and deductions

• A health insurance form

• A rental agreement

When must your employer provide your T4 slip by?

• January 1st

• March 1st

• April 30th

• December 31st