Last year saw an exponential increase in employees working from home amidst the COVID-19 pandemic. Working from home involves several adjustments, such as determining a workspace, making it comfortable and productive, getting office supplies and more.
Working from home also generates expenses that you would not necessarily encounter if you were working in your employer’s office.
Our question for you is: did you know that you can claim home office expenses on your annual tax return? You can! Some of the expenses you can claim are electricity, heat, water, utility, internet access and more.
Fortunately, the Canada Revenue Agency has introduced a new flat rate method to claim these expenses on your 2020 tax return making it easier.
Send us an email firstname.lastname@example.org or give us a call at 705-475-0323 now to get you started!