If you worked from home in 2023, you may be wondering how to claim home office expenses on your tax return. The Canada Revenue Agency has announced that it will update Form T2200 for the 2023 tax year by the end of January 2024. The updated form will simplify the process of claiming home office expenses for employees who only need to claim this deduction.
However, unlike the previous three tax years, you will not be able to use the temporary flat rate method that was introduced due to the COVID-19 pandemic. Instead, you will have to use the detailed method that was in place before the pandemic. This method requires you to keep receipts and records of your home office expenses and calculate the percentage of your home that you used for work purposes.
If we are filing your personal taxes this year, you can download the following spreadsheet as a template to track your home office expenses.
