On December 14, 2021, Finance Minister, Chrystia Freeland, delivered the government’s 2021 Economic and Fiscal Update. Among the many updates provided, the federal government announced that it will extend the simplified rules for deducting home office expenses for the 2021 and 2022 tax years (which were previously only applicable to the 2020 tax year). In addition to extending the temporary flat rate method that taxpayers may use, the government increased the temporary flat rate to C$500 (from C$400) annually. For details on how the temporary flat rate method applied to the 2020 tax year, see Blakes | Home Sweet Home: Deducting Home Office Expenses Just Got Easier.
For more information, please contact any member of our Pensions, Benefits & Executive Compensation or Tax group.
For more information, please contact any member of our Pensions, Benefits & Executive Compensation or Tax group.
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