1. Taxes What Do You Know? http://www.cra-arc.gc.ca/tx/ndvdls/dctrs/rs-ct/cntnt/menu-eng.html

2. True or False? Tax returns for the previous year must be filed by the end of January of the following year. False - Tax returns must be filed usually at the end of April of the following year

3. True or False? You do not have to file an income tax and benefit return if you are under 16 False – The requirement to complete and file an income tax and benefit return is not based on age but on taxable income

4. True or False? Most people get a refund when they file their tax return True – Most income tax returns result in a refund

5. True or False? There is no tax to pay when you buy a used motorcycle False – The fact that an item is taxable or not has nothing to do with it being new or used

6. True or False? You do not have to report tips or cash income on your tax return False – Tips and cash income are taxable income

7. True or False? If you don’t file your tax return on time you may need to pay interest if you are owing money True – Interest is compounded daily, beginning the day after your tax return is due at rates set by the government

8. How Did You Do?