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Debits and credits are the backbone of double-entry accounting system. In double-entry accounting, a company’s assets are equal to its liabilities plus owner’s equity. This is known as the accounting equation (Assets = Liabilities + Equity). Each transaction has to be recorded in at least two accounts and the sum of all debits must equal…
You travel expenses may be qualified for medical expense tax credit if you have to travel at least 40 kilometers (one way) from your home to obtain medical services. You can claim the public transportation expenses you paid, such as taxis, bus, or train, or vehicle expenses where public transportation is not readily available.
You can claim the first-time home buyers’ tax credit (HBTC) in the taxation year in which the qualifying home is acquired. Q: Do I have to register the acquisition of the home under the applicable land registration system? A: Yes. Your interest in the home must be registered in accordance with the land registration system applicable to…