Module 3 - Quiz

Determine whether the following statements are True or False.

1. You complete your tax return and discover you owe tax this year. You should wait to send in your return until you have enough money to pay the balance in full.


False. Avoid a late-filing penalty by sending your return on or before April 30th. After you receive your notice of assessment, you can contact the Canada Revenue Agency to make a repayment plan.

2. I don't pay tax so the Taxpayer Bill of Rights doesn't apply to me.


False. The Taxpayer Bill of Rights applies to every person or organization who is required to comply with the legislation administered by the Canada Revenue Agency, including individuals, businesses, benefit recipients and charities.

3. You were in the hospital and missed the filing deadline. You are charged a late-filing penalty and interest. There is nothing you can do about it.


False. Due to your extraordinary circumstances, you may be able to get the penalties and interest waived under the taxpayer relief provisions.

4. The underground economy doesn't hurt anyone.


False. If you participate in the underground economy, you place an unfair burden on all law-abiding taxpayers.

5. You could go to jail if you are convicted of certain tax offences.


True. If you are found guilty of tax evasion or fraud, in addition to paying fines, you could go to jail.

Excellent! You are ready to begin Module 4.

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