TAX TO GO News
Claiming Home Office Expenses
While the majority of Canadian employees still travel to the office at the beginning of each working day, there has been a huge increase over the past decade or so in the number of Canadian who work, on a part-time or a full-time basis, from a home office. Such an arrangement can work to everyone's benefit: the worker is spared the cost and aggravation of the daily commute and, where a significant number of employees work at least part-time from home, the employer's costs of maintaining office space, usually in expensive urban markets, can go down... read more
Moving expenses – what’s deductible and when?
A number of factors converged to make the real estate market of the spring of 2010 one of the busiest in recent memory. House prices have been on the rise for some time, interest rates (and therefore mortgage rates) are expected to increase in the second half of this year, and more stringent rules on qualifying for mortgages took effect in April 2010. In addition, both Ontario and British Columbia are moving to a harmonized sales tax effective July 1, 2010, meaning that there will be increased tax payable on a number of services associated with buying or selling a home... read more
The Cost of Commuting: Claiming the Public Transit Tax Credit
With summer at an end, the daily trek to work and to school has resumed, and for millions of
Canadians, that means availing themselves of public transit. While the commute to work or to
school is unlikely to be the best part of anyone’s day, there may be some solace in the fact that
the cost of that commute is subsidized, to a degree, by our tax system... read more
The tax benefits of working from home
A number of circumstances and developments have come together over the past few years to make working from a home office, once almost unknown, a common fact of business life. First and foremost, of course, is the technology, particularly communications technology, which enables the home-based worker to have access to all of the information and services available to his or her in-office counterpart...