100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
IFSE - CIFC - Unit 10 UPDATED Questions and CORRECT Answer $8.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. IFSE - CIFC
  4.  
  5. IFSE - CIFC

Exam (elaborations)

IFSE - CIFC - Unit 10 UPDATED Questions and CORRECT Answer
 0 view  0 purchase
  • Course
  • IFSE - CIFC
  • Institution
  • IFSE - CIFC

IFSE - CIFC - Unit 10 UPDATED Questions and CORRECT Answers Payroll taxes are paid to support: - CORRECT ANSWER- 1. Federal spending on employment insurance and the CPP benefit programs 2. Provincial spending on worker's compensation benefits for injured workers Marginal tax rate - CORRECT A...

[Show more]

Preview 1 out of 2  pages

Document information

  • November 17, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • IFSE - CIFC
  • IFSE - CIFC

Seller

avatar-seller
MGRADES

Reviews received

Content preview

IFSE - CIFC - Unit 10 UPDATED
Questions and CORRECT Answers
Payroll taxes are paid to support: - CORRECT ANSWER✔✔- 1. Federal spending on
employment insurance and the CPP benefit programs
2. Provincial spending on worker's compensation benefits for injured workers


Marginal tax rate - CORRECT ANSWER✔✔- - represents the amount of tax an individual
pays on their dollar of income


Average tax rate - CORRECT ANSWER✔✔- - represents how much tax is payable as a
percentage of income


Alberta income tax rate - CORRECT ANSWER✔✔- - flat tax of 10% is applied to all
taxable income


Tax deduction - CORRECT ANSWER✔✔- - lowers taxable income



Tax credit - CORRECT ANSWER✔✔- - lowers tax payable



2 types of tax credits - CORRECT ANSWER✔✔- - refundable
- non-refundable


Refundable tax credit - CORRECT ANSWER✔✔- - a tax credit that can reduce one's
income tax liability to below zero with the excess being refunded to the taxpayer


Non-refundable tax credit - CORRECT ANSWER✔✔- - the portion of the credit that is not
needed to reduce your tax liability will not be paid to you and cannot be carried forward to
reduce your tax liability in the future (except for things like medical expenses, tuition,
charity)


Unused dividend tax credit - CORRECT ANSWER✔✔- - must use it or lose it, cannot be
carried forward

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75323 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$8.49
  • (0)
  Add to cart