Work From Home Tax Deduction

Have you been working from home this year? Here's how you can save big on taxes.

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Canada Revenue Agency (CRA) released detailed guidance on the home office expense deduction, how does it work?

1) The new “Temporary Flat Rate Method”
-Employees can claim a deduction on their personal income tax
-Provides a deduction of $2 per workday at home
-To a maximum of 400$
-Don’t need to determine expenses

2) The “Detailed Method”
-Must meet the eligibility criteria
-Require additional tax forms (from yourself and employer)
-Can claim a portion of certain expenses related to use of work space at home
-Must demonstrate expenses


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