I have home office employment expenses. I used to enter rent when I was renting, but now that I own a home, do I deduct Mortgage/tax payments? Where to input them?
I have home office employment expenses. I used to enter rent when I was renting, but now that I own a home, do I deduct Mortgage/tax payments? Where to input them?
I have home office employment expenses. I used to enter rent when I was renting, but now that I own a home, do I deduct Mortgage/tax payments? Where to input them?
Although both types of employees (salaried & commission) claiming Employment Expenses are eligible to claim "Rent" as a Work-Space-In-Home expense, there are different rules for home owners.
Mortgage Payments - The actual mortgage payment is never allowed as a tax deduction, only interest paid on the mortgage. However, as an Employment Expense, CRA does not permit either type of employee to claim their mortgage interest.
Property Tax - Property Taxes can only be claimed by employees who earn "Commission Income".
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