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CSI Financial Planning II (FPII) Sample Questions:
By when must a personal trust file its income tax return?
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When a Canadian works abroad for a Canadian employer, what proof must be provided to have that time qualify as residence in Canada for Old Age Security?
A. Proof of paying Canadian Income Tax.
B. Proof of Canadian Residency.
C. Proof of employment from the Canadian employer and proof of physically returning to Canada within 6 months of ending employment.
D. Proof of returning to Canada within one year of ending employment and proof of paying Canadian income taxes.
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A Canadian resident, age 57, is self-employed and earns $74,000 in yearly income. The year's basic exemption and maximum pensionable earnings are $3,500 and $61,600, respectively. Assuming a contributory rate of 5.45%, how much will the resident pay in Canada Pension Plan premiums (rounded to the nearest dollar)?
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Jo and Jordan have recently married. This is their second marriage, and they are planning to buy a cottage together. Their primary concern is leaving each of their interest to their respective children from their previous marriages. Which tenancy structure is their real estate lawyer likely to recommend?