Have You Heard the Word?
It’s tax season at last and the Government of Canada is offering Canadians a tax deduction for home office expenses for the 2020 tax year. You can claim this on your income tax; the deduction will reduce your income tax liability.
To be eligible, one must meet all of the following criteria. All information is from the Canada Revenue Agency website. Please visit for more details.
- you worked from home in 2020 due to the COVID-19 pandemic or your employer required you to work from home
- you worked more than 50% of the time from home for a period of at least four consecutive weeks in 2020
- have a completed and signed Form T2200S or Form T2200 from your employer (only applicable if the detailed method is used to complete the claim)
- the expenses are used directly in your work during the period
If eligible, the new flat-rate method guarantees you can claim $2 for each day worked from home in 2020 due to the COVID-19 pandemic, up to a maximum of $400 CAD (200 working days) per person.
If you’re a Canadian and you’ve been working from home speak to your accountant for more information about the tax deduction and reap all the benefits of working from home.
Cheers ❤
