Which of the following is NOT a taxable entity for Canadian income tax purposes?
A)Darklyn Ltd., a Canadian resident corporation.
B)Ms. Sarah Bright, a Canadian resident.
C)Walters and Walters, a group of CPAs operating as a partnership.
D)The Martin family trust.

Question

Quizplus · Accepted Answer

Partnerships are not considered taxable entities for Canadian income tax purposes. Instead, the income or loss from the partnership is allocated to the partners who then report it on their own tax returns.

Which of the Following Is NOT a Taxable Entity for Canadian