If a Taxpayer Is Due a Refund, She Does Not

question 30

True/False

If a taxpayer is due a refund, she does not have to file a tax return.

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Definitions:

Net Advantage to Leasing

The net benefit that results from leasing an asset versus purchasing it outright, considering all financial aspects.

Lease Payments

Periodic payments made by a lessee to a lessor for the use of an asset over a specified time period.

CCA Class

A category used in Canadian tax law that determines the depreciation rate for tax purposes on tangible capital assets.

Incremental Cash Flow

The additional cash flow a company generates from undertaking a new project, highlighting the project's potential profitability.