From Dale MacMillan, NRC Vice-President, Corporate Services and Chief Financial Officer
As the end of 2020 approaches, some of you have inquired about the possibility of claiming deductions for home office expenses, following a year where many of us have had to work from home due to the COVID-19 pandemic.
The Canada Revenue Agency (CRA) recently released information regarding a new temporary flat rate method, in place for 2020 only, to claim a deduction for home office expenses as long as you meet the eligibility criteria. For example, if you worked from home more than 50% of the time for a period of at least four consecutive weeks, you can claim $2 for each day you worked at home during that period, plus any other days worked at home in 2020 due to COVID-19, up to a maximum of $400.
If you want to claim the actual amounts you paid for your home office expenses, you will need to complete Form T777S and get a completed and signed Form T2200S (simplified for COVID-19) from your supervisor. Please refer to the information provided by CRA to determine which option is best for you.
The CRA website has many resources that can help you understand this deduction and its benefits, including a new calculator (see link below), frequently asked questions and a backgrounder. Additional links to assist you have also been included below:
- Learn more about the changes
- Compare all three claim methods
- Learn how about who can claim
- Determine your work space use
- Review expenses that can be claimed including a comprehensive list of eligible home office expenses
- Calculate home office or work space expenses
- Costs covered and not covered by NRC
Please note that all inquiries should be directed to the CRA’s websiteCRA’s General Enquiries line. The NRC Finance and Human Resources teams, as well as any other NRC employee cannot assist in answering any tax-related enquiries or providing any guidance on these matters. You are encouraged to speak to a personal accounting professional to determine the best approach for your specific situation.