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TAX TIME: Tips to make filing your income tax return as painless as possible | iNFOnews

TAX TIME: Tips to make filing your income tax return as painless as possible | iNFOnews
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Tax deadline is Friday: Expert warns CERB recipients will likely owe money

Tax deadline is Friday: Expert warns CERB recipients will likely owe money by Denise Wong Last Updated Apr 28, 2021 at 4:26 pm EDT FILE - A tax return form is pictured in Toronto on Wednesday April 13, 2011. THE CANADIAN PRESS/Chris Young Summary Tax specialist says government has created a new method of claiming home office expenses Pandemic means many Canadians worked from home or took CERB VANCOUVER (NEWS 1130) – Tax deadline is Friday and for many Canadians, the return will look a bit different this year. That’s especially true for those who worked from home or needed government benefits during the COVID-19 pandemic.

Deducting home office expenses in 2020 | Dentons

Was required to work from home by their employer. The employee was required to pay for expenses related to the workspace in their home. One of the following applies: The employee’s home workspace is where they worked more than 50% of the time for a period of at least four consecutive weeks. This can be either a common area of the home or a designated room; or The employee only uses their workspace to earn employment income and the employee also uses it regularly and continually for meeting clients, customers, or other people in the course of their work. Note: the CRA has previously taken the position that a “meeting” means an in-person meeting (therefore a telephone call would not suffice). To date, the CRA has not announced any changes to this interpretation in light of COVID-19, particularly whether videoconference calls would be considered “meetings”, but it is anticipated some clarification will be provided prior to the filing deadline for 2020 income tax returns.

Actualités Employeurs : Nouvelles Déductions Pour Frais De Bureau À Domicile Annoncées Par L ARC - Employment and HR

Canada Makes It Easier For Workers To Deduct Home Office Expenses In Light Of COVID-19 | Fisher Phillips

To embed, copy and paste the code into your website or blog: The Canada Revenue Agency (CRA) recently released a new, simplified process for deducting home office expenses for the 2020 tax year, which will require employers to be prepared to work with those employees seeking to take advantage of the changes. The revisions, announced on December 15, were brought about by the dramatic impact that the COVID-19 pandemic has had on typical working life. For millions of Canadians, this is the first year in which they will be able to deduct certain expenses related to working from home. For the 2020 tax year only, employees who have worked from home for at least one month due to COVID-19 may deduct home office expenses using either the Temporary Flat-Rate Method or the New Detailed Method.

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