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zoejamie2022
March 8, 2022
Question

Should rent be used instead of mortgage interest if the home is not owned?

  • March 8, 2022
  • 1 reply
  • 0 views
For the calculation of home office deductions

    1 reply

    A
    Antomeister
    April 24, 2022

    According to the Canada Revenue Agency (CRA), you may claim:

    • electricity
    • heat
    • water
    • utilities portion (electricity, heat, and water) of your condominium fees
    • home internet access fees
    • maintenance and minor repair costs
    • rent paid for a house or apartment where you live.

    You are actually not allowed to claim mortgage interest or principal mortgage payments when calculating home office deductions. For more information, check out: CRA - Expenses You Can Claim

     

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