Thank you Zoey! I own my home, and I live in my home with my family occupying 70%. I also have a tenant in the basement who occupies 30% of the home. I do work from home, and my employer gave signed the necessary form. I already deducted 30% of my heating, electricity etc towards the tenant on form T776. If I were also to deduct, say 8% of my home towards - this work from home portion. I would then be deducting 8% of those utilities bills (in addition to the 30% to tenant). Also, I have heard that you loose your Principal Residence designation if you start claiming the detailed deduction way. But I was advised this back in 2022. Is this still true? This is my principal residence and I would not want to loose this status.
Hello, thank you for your question. For liability purposes, I can only provide general comments; I cannot comment on specific situation via RUclips without analyzing all the relevant facts. Generally, a property can retain its status as a principal residence, where all of the following conditions are met: the income-producing use is ancillary to the main use of the property as a residence; there is no structural change to the property; and no CCA is claimed on the property. Reference: www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-1-individuals/folio-3-family-unit-issues/income-tax-folio-s1-f3-c2-principal-residence.html If your situation is very complex, please consult with a professional or contact the CRA. (Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Hello, thank you for your question. Salaried employees and commission employees cannot claim mortgage interest and principal mortgage payments. Reference: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/expenses-can-claim.html (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
@@ZoeySiu thanks. yeah, I saw that after some additional research. Canada is so corrupt. You do all this extra work on taxes and the net effect it will have on your return is minimal. It’s set up in such a way that the house, in this case the government, always wins.
Hello, thank you for your comment! I am personally very frustrated as well. I understand that taxes are important for the Government to maintain the services they provide, but I wish they can manage taxpayers’ money more effectively, rather than just continue to take on additional debts and let the taxpayers take on the responsibilities.
@@ZoeySiu I know. It’s crazy. And we are only at 17 cents per liter carbon tax right now and they want to bring it to 61 cents per liter! I did the math and at 61 cents it would mean I pay $36 on a full tank for carbon tax alone and that doesn’t include the sales tax with the carbon tax amount being taxed again too! I have a friend in Colorado and they currently pay like 68 cents per liter for gas now as they have ZERO carbon tax. We are paying almost $1.30 more per liter where I live. We are a rich country with so many resources and if we looked after our own people first we could be a much better and happier country. The roads are terrible too which causes wear and tear on your car and the truth is there are many people neglecting car maintenance as they don’t have the extra cash to spend on that so public safety is being compromised and the risk will grow more as time passes on and more wear and tear happens. I could write a book on all this madness. It’s the same with things like alcohol. They keep raising taxes and it does not make people stop and some will say that don’t matter to me as I don’t drink but that’s the wrong way to look at it. In Colorado you can buy 12 bottles of moosehead beer imported from New Brunswick (so to the western USA) for $12.99 and here’s it almost $40 for the same thing. We pay enough tax and people more than pay for their healthcare costs many times over throughout the course of their lives. I figure that considering all the tax on top of your income tax you are literally paying about 2/3 of every dollar in tax and they want more! I’m hoping for a change to make things better but we are so far in debt now that I don’t see things being good ever again. Even if taxes were reduced now companies will keep prices up to gouge you and make more profits. Sorry for my rant! 😊
Hello, thank you for your comment. No worries! I totally understand and share the frustration! I was at the mall on the weekend. A teenager asked me to buy him food. He said he wanted to get some food for his sister. I know there was a chance that it was just a scam, but I decided to trust him and bought him some food. If the Government does its job, there should not be any kids who are left hungry. The Government charges so much taxes already, and yet people still have to wait years for healthcare, and some families struggle to put food on the table. I am very disappointed with the Government!
Hello, thank you for your questions. There are some limitations on the work-space-in-the-home expenses. For instance, the amount for work-space-in-the-home expenses is limited to the amount of employment income that is left after you have deducted all other employment expenses (if you have these expenses.) You cannot use work-space-in-the-home expenses to create or increase a loss. If you cannot claim all of your work-space-in-the-home expenses, you can carry forward the expenses, and use these expenses in the next year as long as you are reporting income from the same employer. Also, you need to separate the expenses between your employment use and non-employment (personal) use of your home. You will need to determine the size and use (employment and personal) of your work space to calculate the work-space-in-the-home expenses. Reference: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/work-space-use.html (Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
i'm not self-employed but work from home. this year start using T777. the tax return software have the spot to enter the expenses but it divided into 3 columns gst taxable / hst taxabble / zero rated & exempt. i'm not in accounting field so I have no clue e.g. I have internet access fee. which column i should put in the total amount? appreciate it
Hello, thank you for your question. If you meet the eligibility criteria, you can deduct home office expenses using the Detailed Method for the 2023 tax year. Please take a look at the CRA Guide T4044 (Employment Expenses) for details. Eligible employment expenses include any GST/ HST paid on these expenses. Alternatively, you may be able to get a rebate of the GST/HST you paid. The invoices/ receipts of the expenses would show whether any GST/HST were included. I am not sure which software you use. If you have specific questions about the software, it would be best for you to contact the software’s customer support department. Reference: www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-expenses.html If your situation is very complex, please consult with a professional or contact the CRA. (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hi, I forgot to put home office expenses initially when i filed my return. Now I have got notice of assessment so is it possible to refile and claim this rebate? I am not able to add anything new, just edit what i already put it. Thanks.
Hello, thank you for your question. If you meet the eligibility criteria, you can deduct home office expenses using the Detailed Method for the 2023 tax year. If you would like to change your tax return, please follow the CRA process for changing a return: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hello, thank you for your question. The temporary flat rate method is no longer available for the 2023 tax year. It was only applicable for the 2020 to 2022 tax years. If you meet the eligibility criteria, you can deduct home office expenses using the Detailed Method for the 2023 tax year. (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hello, thank you for your question. If you are using the detailed method to deduct home office expenses, you need a completed and signed Form T2200 (Declaration of Conditions of Employment) from your employer. You do not have to include this form with your tax return, but you need to keep a copy in case the CRA asks to see it. Reference: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/who-claim/detailed-method.html (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Can you tell me if you use the date you pay for an expense. My billing date from the utility companies don’t go from the first of the month to the end of the month sometimes they are in the middle of the month so do I need to take the bill and divide it by the number of days in that month to figure out, the amount actually paid per day or do I just claim on the date that it was paid?
Hello, thank you for your question. If you meet the eligibility criteria, you can claim the actual amounts paid for the period you worked from home. Generally, the total eligible costs based on daily rate versus monthly rate should not result in significant difference. For example, assuming a monthly utilities bill of $100. The total annual utilities costs based on average daily rate would be $3.29 x 365 days = $1,201. The total annual utilities costs based on monthly rate would be $100 x 12 months = $1,200. For someone who worked from home for the full year, the total costs would be $1,200. Then, they need to determine the size and use (employment and personal) of work space to calculate the work-space-in-the-home expenses. For someone who has not worked from home for the full year, they can only claim the expenses they paid in the part of the year they worked from home, rather than claiming the expenses they paid for the whole year. It is important to ensure that you can justify your claims in case the CRA has questions. It is important to ensure your allocation method is reasonable and keep the supporting documents. If your situation is very complex, please consult with a professional or contact the CRA. Reference: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/expenses-can-claim.html#h-2-3 (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
i have the same question as yours. what i'm planning to do is pro-rate the bills according to the period covered. say my first and last months' billis with Direct Energy and EPCOR would have overlapping days in 2022 and 2024..so i'll just pro-rate it according to 2023 usage. I have a follow up question though as to what data should i input..is it total bill cost x the percentage showing on form T2200 which my employer signed (in my case it says 80% WFH) or 100% of my total utilities cost and tax software would auto calc it depending on the % of my work area. It's a bit confusing..do i input total cost x 80% x floor area used? i may have to call cra to be confident with my tax filing 😊
Hello, thank you for your comment and question. Different software structures the question/ input differently. For example, in UFile, in the “Employment expenses - Home office expenses” section, there is a field for “Percentage (%) of home being used for personal purposes”. This information will be used to calculate the % and amount of expenses related to employment use. In Wealthsimple Tax, it asks for total area of the home, total area of the workspace, whether the workspace was used for other purposes, and total home expenses (during the period worked from home). The CRA has an online calculator to determine the claim amounts and percentage of use. You can use it to compare the results calculated by the software. Here’s the link: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/calculate-expenses.html (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hello, thank you for your question. In Wealthsimple Tax, you need to enter all the relevant information, such as total area of the home, total area of the workspace, whether the workspace was used for other purposes, and total home expenses (during the period worked from home). The software then calculates the employment-use amount, and the personal use amount based on the information entered. (Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hello, thank you for your question. Eligible employment expenses include the GST/ HST paid on these expenses. Please take a look at the CRA Guide T4044 (Employment Expenses) for details. Also, you may be able to get a rebate of the GST/HST you paid. Reference: www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-expenses.html If your situation is very complex, please consult with a professional or contact the CRA. (Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Thank you so much for the info! What if I work remotely as a salaried employee but live at home with my parents and don't pay rent or own a home can I still claim home office expenses? I do pay the internet bill, but that bill is under my mom name. I wish they kept the flat rate method.
Hello, thank you for your question. If you meet the eligibility criteria for using the detailed method, you can claim the actual expenses you paid. The detailed method is based on actual expenses paid. Please ensure you have supporting documents to show you paid for the eligible expenses, in case the CRA asks for supporting document. Thank you. (Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Hello, thank you for your question. Eligible employment expenses include the GST/ HST paid on these expenses. Please take a look at the CRA Guide T4044 (Employment Expenses) for details. Also, you may be able to get a rebate of the GST/HST you paid. Reference: www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-expenses.html If your situation is very complex, please consult with a professional or contact the CRA. (Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Hi Zoey, Thank you for sharing the video. I rent a private room and work remotely from it on a permanent basis. Am I eligible for home office expenses?
Hello, thank you for your question. Are you referring to office rent expenses or work-space-in-the-home expenses? If you are referring to office rent, here’s the link to the CRA website: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/salaried-employees/office-rent.html If you are referring to work-space-in-the-home expenses, you can use the detailed method if you meet the eligibility criteria. Here’s the link to the CRA website: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/who-claim/detailed-method.html If your situation is very complex, please consult with a professional or contact the CRA. (Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.) Thank you!
Happy new year, Zoey! Thank you for sharing this information.
Thank you so much for your comment! Happy new year!
HAPPY NEW YEAR Zoey! Sincerely wish you and your family a Healthy and Joyful year 2024!!
Thank you so much, Samson! Happy new year to you too! Wishing you and your family all the best in 2024!
Thank you Zoey! I own my home, and I live in my home with my family occupying 70%. I also have a tenant in the basement who occupies 30% of the home. I do work from home, and my employer gave signed the necessary form. I already deducted 30% of my heating, electricity etc towards the tenant on form T776. If I were also to deduct, say 8% of my home towards - this work from home portion. I would then be deducting 8% of those utilities bills (in addition to the 30% to tenant).
Also, I have heard that you loose your Principal Residence designation if you start claiming the detailed deduction way. But I was advised this back in 2022. Is this still true? This is my principal residence and I would not want to loose this status.
Hello, thank you for your question. For liability purposes, I can only provide general comments; I cannot comment on specific situation via RUclips without analyzing all the relevant facts.
Generally, a property can retain its status as a principal residence, where all of the following conditions are met: the income-producing use is ancillary to the main use of the property as a residence; there is no structural change to the property; and no CCA is claimed on the property.
Reference:
www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-1-individuals/folio-3-family-unit-issues/income-tax-folio-s1-f3-c2-principal-residence.html
If your situation is very complex, please consult with a professional or contact the CRA.
(Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
The CRA website mentions rent but I did not see mortgage payments mentioned. Can you claim your mortgage payment expense?
Hello, thank you for your question. Salaried employees and commission employees cannot claim mortgage interest and principal mortgage payments.
Reference:
www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/expenses-can-claim.html
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
@@ZoeySiu thanks. yeah, I saw that after some additional research. Canada is so corrupt. You do all this extra work on taxes and the net effect it will have on your return is minimal. It’s set up in such a way that the house, in this case the government, always wins.
Hello, thank you for your comment! I am personally very frustrated as well. I understand that taxes are important for the Government to maintain the services they provide, but I wish they can manage taxpayers’ money more effectively, rather than just continue to take on additional debts and let the taxpayers take on the responsibilities.
@@ZoeySiu I know. It’s crazy. And we are only at 17 cents per liter carbon tax right now and they want to bring it to 61 cents per liter! I did the math and at 61 cents it would mean I pay $36 on a full tank for carbon tax alone and that doesn’t include the sales tax with the carbon tax amount being taxed again too! I have a friend in Colorado and they currently pay like 68 cents per liter for gas now as they have ZERO carbon tax. We are paying almost $1.30 more per liter where I live. We are a rich country with so many resources and if we looked after our own people first we could be a much better and happier country. The roads are terrible too which causes wear and tear on your car and the truth is there are many people neglecting car maintenance as they don’t have the extra cash to spend on that so public safety is being compromised and the risk will grow more as time passes on and more wear and tear happens. I could write a book on all this madness. It’s the same with things like alcohol. They keep raising taxes and it does not make people stop and some will say that don’t matter to me as I don’t drink but that’s the wrong way to look at it. In Colorado you can buy 12 bottles of moosehead beer imported from New Brunswick (so to the western USA) for $12.99 and here’s it almost $40 for the same thing. We pay enough tax and people more than pay for their healthcare costs many times over throughout the course of their lives. I figure that considering all the tax on top of your income tax you are literally paying about 2/3 of every dollar in tax and they want more! I’m hoping for a change to make things better but we are so far in debt now that I don’t see things being good ever again. Even if taxes were reduced now companies will keep prices up to gouge you and make more profits. Sorry for my rant! 😊
Hello, thank you for your comment. No worries! I totally understand and share the frustration! I was at the mall on the weekend. A teenager asked me to buy him food. He said he wanted to get some food for his sister. I know there was a chance that it was just a scam, but I decided to trust him and bought him some food. If the Government does its job, there should not be any kids who are left hungry. The Government charges so much taxes already, and yet people still have to wait years for healthcare, and some families struggle to put food on the table. I am very disappointed with the Government!
What is the maximum expense that we can claim under detailed method? Is there a cap on the amount?
Hello, thank you for your questions. There are some limitations on the work-space-in-the-home expenses. For instance, the amount for work-space-in-the-home expenses is limited to the amount of employment income that is left after you have deducted all other employment expenses (if you have these expenses.) You cannot use work-space-in-the-home expenses to create or increase a loss.
If you cannot claim all of your work-space-in-the-home expenses, you can carry forward the expenses, and use these expenses in the next year as long as you are reporting income from the same employer.
Also, you need to separate the expenses between your employment use and non-employment (personal) use of your home. You will need to determine the size and use (employment and personal) of your work space to calculate the work-space-in-the-home expenses.
Reference:
www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/work-space-use.html
(Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
i'm not self-employed but work from home. this year start using T777. the tax return software have the spot to enter the expenses but it divided into 3 columns gst taxable / hst taxabble / zero rated & exempt. i'm not in accounting field so I have no clue e.g. I have internet access fee. which column i should put in the total amount? appreciate it
Hello, thank you for your question. If you meet the eligibility criteria, you can deduct home office expenses using the Detailed Method for the 2023 tax year.
Please take a look at the CRA Guide T4044 (Employment Expenses) for details. Eligible employment expenses include any GST/ HST paid on these expenses. Alternatively, you may be able to get a rebate of the GST/HST you paid.
The invoices/ receipts of the expenses would show whether any GST/HST were included.
I am not sure which software you use. If you have specific questions about the software, it would be best for you to contact the software’s customer support department.
Reference:
www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-expenses.html
If your situation is very complex, please consult with a professional or contact the CRA.
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hi, I forgot to put home office expenses initially when i filed my return. Now I have got notice of assessment so is it possible to refile and claim this rebate? I am not able to add anything new, just edit what i already put it. Thanks.
Hello, thank you for your question. If you meet the eligibility criteria, you can deduct home office expenses using the Detailed Method for the 2023 tax year. If you would like to change your tax return, please follow the CRA process for changing a return:
www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
How do we claim just the 2 dollars a day thing? I am trying to do it on turbo tax but i do not see it.
Hello, thank you for your question. The temporary flat rate method is no longer available for the 2023 tax year. It was only applicable for the 2020 to 2022 tax years. If you meet the eligibility criteria, you can deduct home office expenses using the Detailed Method for the 2023 tax year.
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
can you simply fill t777s? without employer form
Hello, thank you for your question. If you are using the detailed method to deduct home office expenses, you need a completed and signed Form T2200 (Declaration of Conditions of Employment) from your employer. You do not have to include this form with your tax return, but you need to keep a copy in case the CRA asks to see it.
Reference:
www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/who-claim/detailed-method.html
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Can you tell me if you use the date you pay for an expense. My billing date from the utility companies don’t go from the first of the month to the end of the month sometimes they are in the middle of the month so do I need to take the bill and divide it by the number of days in that month to figure out, the amount actually paid per day or do I just claim on the date that it was paid?
Hello, thank you for your question. If you meet the eligibility criteria, you can claim the actual amounts paid for the period you worked from home.
Generally, the total eligible costs based on daily rate versus monthly rate should not result in significant difference. For example, assuming a monthly utilities bill of $100. The total annual utilities costs based on average daily rate would be $3.29 x 365 days = $1,201. The total annual utilities costs based on monthly rate would be $100 x 12 months = $1,200. For someone who worked from home for the full year, the total costs would be $1,200. Then, they need to determine the size and use (employment and personal) of work space to calculate the work-space-in-the-home expenses.
For someone who has not worked from home for the full year, they can only claim the expenses they paid in the part of the year they worked from home, rather than claiming the expenses they paid for the whole year.
It is important to ensure that you can justify your claims in case the CRA has questions. It is important to ensure your allocation method is reasonable and keep the supporting documents.
If your situation is very complex, please consult with a professional or contact the CRA.
Reference: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/expenses-can-claim.html#h-2-3
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
@@ZoeySiu Thank you so much!
i have the same question as yours. what i'm planning to do is pro-rate the bills according to the period covered. say my first and last months' billis with Direct Energy and EPCOR would have overlapping days in 2022 and 2024..so i'll just pro-rate it according to 2023 usage. I have a follow up question though as to what data should i input..is it total bill cost x the percentage showing on form T2200 which my employer signed (in my case it says 80% WFH) or 100% of my total utilities cost and tax software would auto calc it depending on the % of my work area. It's a bit confusing..do i input total cost x 80% x floor area used? i may have to call cra to be confident with my tax filing 😊
Hello, thank you for your comment and question. Different software structures the question/ input differently. For example, in UFile, in the “Employment expenses - Home office expenses” section, there is a field for “Percentage (%) of home being used for personal purposes”. This information will be used to calculate the % and amount of expenses related to employment use.
In Wealthsimple Tax, it asks for total area of the home, total area of the workspace, whether the workspace was used for other purposes, and total home expenses (during the period worked from home).
The CRA has an online calculator to determine the claim amounts and percentage of use. You can use it to compare the results calculated by the software. Here’s the link:
www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/calculate-expenses.html
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hi, on Wealthsimple there is a colum where they ask other home expenses (including rent)- do we put the full rent or just as per area
Hello, thank you for your question. In Wealthsimple Tax, you need to enter all the relevant information, such as total area of the home, total area of the workspace, whether the workspace was used for other purposes, and total home expenses (during the period worked from home). The software then calculates the employment-use amount, and the personal use amount based on the information entered.
(Disclaimer - Please note that my comments are provided for general informational purposes only. This is not tax advice. Also, I have no liability or responsibility over your tax return.)
Hi Zoey, thank you for sharing this information. Could you tell me if the expenses on form T777 includes GST?HST?
Hello, thank you for your question. Eligible employment expenses include the GST/ HST paid on these expenses. Please take a look at the CRA Guide T4044 (Employment Expenses) for details.
Also, you may be able to get a rebate of the GST/HST you paid.
Reference:
www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-expenses.html
If your situation is very complex, please consult with a professional or contact the CRA.
(Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Thank you so much for the info! What if I work remotely as a salaried employee but live at home with my parents and don't pay rent or own a home can I still claim home office expenses? I do pay the internet bill, but that bill is under my mom name. I wish they kept the flat rate method.
Hello, thank you for your question. If you meet the eligibility criteria for using the detailed method, you can claim the actual expenses you paid. The detailed method is based on actual expenses paid. Please ensure you have supporting documents to show you paid for the eligible expenses, in case the CRA asks for supporting document.
Thank you.
(Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Hi Zoey thank you so much for sharing this information. Quick question, the expenses claimed on T777 form include HST/GST?
Hello, thank you for your question. Eligible employment expenses include the GST/ HST paid on these expenses. Please take a look at the CRA Guide T4044 (Employment Expenses) for details.
Also, you may be able to get a rebate of the GST/HST you paid.
Reference:
www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4044/employment-expenses.html
If your situation is very complex, please consult with a professional or contact the CRA.
(Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Thank you for posting this video.
Thank you so much for your comment! I really appreciate this!
Hi Zoey,
Thank you for sharing the video. I rent a private room and work remotely from it on a permanent basis. Am I eligible for home office expenses?
Hello, thank you for your question. Are you referring to office rent expenses or work-space-in-the-home expenses? If you are referring to office rent, here’s the link to the CRA website: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/salaried-employees/office-rent.html
If you are referring to work-space-in-the-home expenses, you can use the detailed method if you meet the eligibility criteria. Here’s the link to the CRA website: www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-22900-other-employment-expenses/work-space-home-expenses/who-claim/detailed-method.html
If your situation is very complex, please consult with a professional or contact the CRA.
(Disclaimer - Please note that my comments are provided for general informational purposes only. Also, I have no liability or responsibility over your tax return.)
Thank you!
@@ZoeySiu thank you so much for responding. Do you file taxes for individuals?
Hello, thank you for your question. My apologies, I am not taking new clients at the moment. Thank you!
@@ZoeySiu no worries and thanks for the response.