Home office tax deduction could fall short of your real expenses VIDEO SIGN OUT
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2020 was a crazy year for the hordes of Canadians forced to work from home offices and kitchen tables due to the pandemic. According to Statistics Canada, 40 per cent of the workforce was forced to set up shop remotely.
That means 2021 is going to be a crazy tax year for workers who have had to incur expenses otherwise left to their employers. In an effort to head off an onslaught of home office claims the Canada Revenue Agency (CRA) has introduced a simplified deduction of up to $400, but in many cases, it could fall way short of the real expense of working from home.