CRA increases ‘Work from Home’ expenses claim
(Disclaimer: Following article is only for information purposes and does not constitute any kind of tax advice. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.)
CRA has recently come out with update on Home office expenses, which includes increase in amount eligible under temporary flat rate (simplified) method of claim. Compared to maximum of $400 for year 2020, taxpayers can now claim up to $500 as expenses for year 2021 based on number of days worked at home (limit of $2 per day remains). Alternatively, taxpayers can use detailed to claim higher amount provided they have receipts of home office related expenses and expenses are properly apportioned between work and personal. In both methods, taxpayers are required to obtain T2200S from employers and file T777S during tax filing. More details can be found on:
