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Home office tax deduction could fall short of your real expenses VIDEO SIGN OUT Sign up for BNN Bloomberg's weekly newsletter, Home Economics, here 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) ha...

What you need to know about the new work-from-home tax break VIDEO SIGN OUT Sign up for BNN Bloomberg's weekly newsletter, Home Economics, here A record number of Canadians were forced to work remotely because of the pandemic, and the Canada Revenue Agency has unveiled a new tax deduction to allow more people to claim expenses related to their home office. If you were among the 40 per cent of workers who, according to Statistics Canada, found themselves working remotely as pandemic lockdowns were enforced, then you have two options to claim your tax deduction. The first is the Simpli...