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Work-from-home tax credit: What Canadians can claim for 2023
– moneysense.ca
Is there any tax credit for working from home? Our company has gone completely remote since the pandemic. In the past few years, there was a tax credit based on how many days you worked from home. I believe the 2022 tax year was the last year for this credit. But now that I am permanently remote, is there anything I can claim for the 2023 tax year?—Imtiaz
Work-from-home tax deduction in Canada
Canadian taxpayers can claim a tax deduction for home-office expenses. This differs slightly from a tax credit, Imtiaz. A tax credit, such as those you get for medical expenses or donations, can be claimed to reduce your income tax payable. It is generally 15% to 20% of an eligible expense, depending on your province or territory of residence.
A tax deduction is often better than a tax credit because it reduces your taxable income. When you decrease your taxable income, you may save 15% to 54% tax depending on your income and where you live.
What can you claim for working from home in 2023?
The Canada Revenue Agency (CRA) introduced a temporary flat-rate home-office expense deduction for the 2020, 2021 and 2022 tax years…
RWRDS Daily Update – February 20, 2024
– RewardsCanada.ca
The post RWRDS Daily Update – February 20, 2024 appeared first on Rewards Canada.
Exclusive details on HSBC Rewards to Avion Rewards points conversions
– RewardsCanada.ca
The post Exclusive details on HSBC Rewards to Avion Rewards points conversions appeared first on Rewards Canada.


