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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 i ....
CRA sends gentle reminder on COVID benefit tax – for now bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
L'Agence du revenu du Canada a récemment annoncé deux nouvelles options simplifiées pour l'année d'imposition 2020, qui permettent aux employés de demander la déduction des frais liés au travail à domicile pendant la pandémie de COVID-19. ....
To print this article, all you need is to be registered or login on Mondaq.com. As a result of the COVID-19 pandemic, many individuals have been forced to work from home. This has left employees questioning if they are able to claim tax deductions for expenses they incurred in the course of working from home. Likewise, employers have been struggling to determine how they can comply with administrative reporting requirements to help permit employees to properly deduct home office expenses. Background Income Tax Act (Canada) (the
Tax Act ) significantly limits the ability of employees to deduct work-related expenses when computing ....
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) 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. ....