Deer Corporation has a December 31 year end and a 20% income tax rate.

On January 1, 2020, equipment is purchased for $45,000 by Deer Corporation. For accounting purposes, Deer will amortize the equipment over 10 years, with no estimated residual value. For tax purposes, capital cost allowance (CCA) will be taken at a 20%, subject to the Accelerated Investment Initiative (AccII) rules which allows 1.5 times the amount of regular CCA in the year of acquisition.

What is the amount of deferred income tax (DIT) asset or deferred income tax (DIT) liability for 2020?

On December 31, 2020, Deer Corporation has $30,000 accounts receivable from sales made during the year. The accounts receivable will be collected in four equal instalments on December 31 in each of the years 2021 through 2024.

What is the amount of deferred income tax (DIT) asset or deferred income tax (DIT) liability for 2020?