When claiming Business Use Of Home expenses on a T2125-Business Statement, and you have already reduced your business income to zero, or are in a loss situation (expenses exceed income), your Home Expenses cannot be used to create or increase a loss. Regardless of which province you reside in.
From the following CRA information:
"The amount you can deduct for business use of home expenses cannot be more than your net income from the business before you deduct these expenses. In other words, you cannot use these expenses to increase or create a business loss".
When claiming Business Use Of Home expenses on a T2125-Business Statement, and you have already reduced your business income to zero, or are in a loss situation (expenses exceed income), your Home Expenses cannot be used to create or increase a loss. Regardless of which province you reside in.
From the following CRA information:
"The amount you can deduct for business use of home expenses cannot be more than your net income from the business before you deduct these expenses. In other words, you cannot use these expenses to increase or create a business loss".
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