Working from home? You might be eligible for deductions on next year’s tax return. Many CPA’s are trying to determine what CRA will do with the “home workspace deduction” and whether more Canadians will be eligible, even if they don’t meet the 50% working from home requirement. This is a great time for our clients to save any receipts from items they purchase for working from home- as well as ensure there is documentation from your employer on your terms of working from home. For more information on what you can claim- see the below link from CRA.
Useful articles & links:
CRA Article- Work Space in the Home Information
CBC- News Article- July 23, 2020 https://www.cbc.ca/news/politics/covid-pandemic-tax-deduction-1.5658739
As always, let us know if you have any questions on how this will impact your return.
Our office is located in North Vancouver, BC and we also offer remote services to clients throughout British Columbia.