Question

25.Determine the strategy a Financial Planner should recommend to a client who is seeking to reduce her average tax rate.

1. Payoff mortgage debt
2. Obtain an investment loan
3. Contribute to a TFSA
4. Contribute to an RRSP

33.Types of personal installment loans include:

1. Debt consolidation loan
2. Car loan
3. Investment loan
4. All of the above
5. a & b

52.Tax deductions include:

1. RRSP contributions
2. Annual union dues
3. Childcare expenses
4. All of the above
5. a & c

Answer 1

Answer-

25.

33. e. a&b ;

It means personal installment loan includes Debt consolidation loan and Car loan. An installment loan is a type of purchaser debt that is reimbursed after some time in routinely planned spans. Banks and credit associations are the most dynamic moneylenders in this class, which incorporates personal loans, car loans, and home loans. While car loans and home loans are utilized to finance explicit buys, personal loans can be utilized for an assortment of purposes, including debt consolidation, building credit, or subsidizing regular costs.

52. e. a&c ;

Tax deductions include: RRSP contributions and childcare expenses.

Deductible RRSP and PRPP commitments can be utilized to diminish your expense. By and large, any pay you acquire in the RRSP or PRPP is absolved from charge as long as the assets stay in the arrangement, notwithstanding, you generally need to pay charge when you get installments from these plans.

You may decide to separate your deductions to lessen your available pay for the year and decrease the measure of cash owed to the IRS. On the off chance that you plan to guarantee the Child and Dependent Care credit, you should order your deductions, per IRS guidelines.