You can deduct expenses you paid in 2017 for the employment use of a work space in your home, as long as you had to pay for them under your contract of employment. These expenses must be used directly in your work and your employer has not reimbursed and will not reimburse you.
Also, you must meet one of the following conditions:
- The work space is where you mainly (more than 50% of the time) do your work.
- You use the work space only to earn your employment income. You also have to use it on a regular and continuous basis for meeting clients, customers, or other people in the course of your employment duties.
Keep with your records a copy of Form T2200, Declaration of Conditions of Employment, which has been completed and signed by your employer.
You can deduct the part of your costs that relates to your work space, such as the cost of electricity, heating, and maintenance. However, you cannot deduct mortgage interest, property taxes, home insurance, or capital cost allowance.
For more information please contact us at Ashcroft & Associates 250-334-3797