Q:
What is the tax treatment for advance rental, rental deposit and utility deposit?
A:
Advance rental is taxable when received.
Rental and utility deposit - if this is a refundable security deposit, it is not taxable.
Q:
Recently we have purchased medical equipment and medical face mask from overseas, but purchases from overseas such as Taobao has no actual invoice from the supplier, so can we take these purchases into our accounts?
A:
As long as you have transaction proof with the details of the goods purchased, then this transaction will be valid and you can claim as purchases.
Zen Chow
YYC Tax Guru
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