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📢 Attention Remote Workers! 🖥️🏠 Updated Rules for Claiming Home Office Deductions in 2023 As we adapt to post-pandemic work norms, there are crucial updates for employees who worked from home last year, either fully or partially. Here's what you need to know: 1. Updated Deduction Method: The temporary flat rate of $400 for home office expenses used during 2020-2022 is no longer available. For 2023, you’ll need to switch to the detailed method and secure a completed T2200 Form from your employer. 2. Eligibility: Ensure you meet the CRA’s criteria by working from home for over 50% of the time for at least four consecutive weeks. The expenses must be directly connected to your work and not reimbursed by the employer. 3. Employer Declaration: Good news! Electronic signatures are now accepted on the T2200 form, simplifying the process of confirming work-from-home conditions with your employer. What You Can Claim: Utilities (electricity, heat, water) Home internet fees (excluding connection fees) Maintenance and minor repairs directly related to your workspace Rent portion if your home is your workspace What You Cannot Claim: Mortgage payments, furniture costs, and major renovations 🛑 Limitations: Remember, there are caps on how much you can claim, especially if working from home part of the year or if your expenses exceed your income. 💡 Need Expert Help? Visit us at Pharma Tax for a free consultation. We specialize in maximizing deductions for professionals like you!