How much of my home costs can my business deduct?
Enter the size of your work space and your home, the year’s home costs and your business income before these costs. Employees claim home office expenses differently, on Form T777.
Your estimate
What the calculator assumes.
Who can claim. The work space must be your principal place of business, or be used only for the business and regularly to meet clients. The deduction cannot create or increase a business loss; what you cannot use carries forward. Sources: CRA, business-use-of-home expenses and Folio S4-F2-C2.
Capital cost allowance on the home. Claiming depreciation on the business part of your home can affect the principal residence exemption when you sell, so most people do not. Many agents work for a brokerage as self-employed contractors; see also the vehicle business use calculator.