Ontario Barrister and Solicitor Practice Exam

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Master the Ontario Barrister and Solicitor Exam with our comprehensive practice quiz. Tailored to the latest syllabus, it's the perfect tool to assess your readiness and ensure success.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What is the estate administration tax payable on an estate valued at $220,000?

$2,200
$3,300
$2,950
$1,100

The correct answer is: $2,950

It is important to note that the estate administration tax, also known as probate tax, is calculated based on the total value of the estate. In this case, the estate is valued at $220,000, therefore the estate administration tax payable would be $2,950. Option A and D are incorrect as they are too low for an estate valued at $220,000. Option B is also incorrect as it is too high and seems to be based on a different estate value. It is important to carefully calculate and pay the correct amount of estate administration tax to avoid any issues with the distribution of assets in the estate.