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What Home Office Deductions Can I Claim? (Canadian Residents)

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Question: What Home Office Deductions Can I Claim? (Canadian Residents)
Answer: For Canadians this answer depends on what classificaton of employment they have.

Employees who work from home (telecommuters or teleworkers) must provide a signed Revenue Canada Form T2200 by their employer when completing their taxes. This identifies to Revenue Canada that the employer has certified the employee is working from home at the employer's wish. There are employers who refuse to sign this form which is unfortuneate for the telecommuter.

Allowable deductions: utilities (heat, hydro and water), business phone, general repairs and maintenance, Internet access, supplies, rent and condominium fees.

Employees paid on commission can deduct property taxes and mortgage interest.

Self-employed mobile professionals can claim the same deductions as well mortgage interest, home insurance, computers, other electronic hardware, office furniture, software and property taxes.

Expenses are not claimed at 100% but pro-rated based on the office-to-home square footage.

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