1. The Canada workers benefit 2. Home office expenses Temporary flat rate method is increased to $500 (250 working days) in 2021 and in 2022. 3. Educator Eligible educators, regardless of their income level, who buy teaching supplies may qualify for a refundable tax credit of up to $250 each year. 4. …
B.C. Tax Incentives 1. Increased Employment incentive is a one-time refundable tax credit for employers. The deadline to apply is December 31, 2021. 2. PST rebate on select machinery and equipment is a temporary provincial sales tax (PST) program where corporations may apply to receive an amount equal to the …
If you work from home, which method should you choose? Here is the comparison: Flat rate method verses Detailed method. Description Temporary Flat Rate method Simplified Detailed – for office in home expenses Detailed – for any employment expenses Eligibility Work from home in 2020 due to COVID-19; for …
For thousands of British Columbian still employed during the pandemic, do you wonder what work-in-the-home and related office expenses can be deducted as employment expenses. CRA rules are quite specific (T4044 Employment Expenses), but exceptional times may require special treatment. Your employer needs to complete and sign a declaration confirming …
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