Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is a tax?
What is a tax?
- An appropriation of profit or income after it has been earned in a taxation year
- A compulsory contribution on individuals, corporations, trusts, and capital property dispositions (correct)
- A voluntary contribution on individuals and corporations
- A non-deductible expense incurred to produce income
What is income tax?
What is income tax?
- A voluntary contribution made by individuals and corporations
- A non-deductible expense incurred to produce income
- An appropriation of profit or income before it has been earned in a taxation year (correct)
- A capital expenditure made or incurred
How did Mr. Justice J. Duff conclude that a levy is a tax in the Lawson case?
How did Mr. Justice J. Duff conclude that a levy is a tax in the Lawson case?
- Because it is enforceable by law and levied by a public body
- Because it is voluntary and levied by a public body
- Because it is voluntary and imposed under the authority of the legislature
- Because it is enforceable by law and imposed under the authority of the legislature (correct)
What type of system is the Canadian tax system?
What type of system is the Canadian tax system?
Signup and view all the answers
What is the purpose of taxation?
What is the purpose of taxation?
Signup and view all the answers
