Updated: Jan 24, 2018
You can deduct from your income certain expenses you paid to earn employment income if your employment contract required you to pay for these expenses and your employer did not reimburse you for them. If the reimbursement is included in your income, then the claim can be made.
Some expenses that you may be required to pay are vehicle expenses if required to drive away from your place of business or in different places. That would include fuel, repairs, insurance, interest on a loan or leasing costs. The portion of these costs would relate to your driving for business purposes. For example if you drive for work related purposes 80% of the time and 20% is personal, then only 80% of the above mentioned costs can be claimed. You need to keep a log book to support your claim.
If you mainly work from home you can claim work-space-in-the-home expenses including hydro, heating and maintenance. If you are a commissioned employee you can claim those costs plus property taxes and house insurance. Mortgage interest cannot be deducted. You need to calculate how much you can deduct by calculating the size of your office as compared to the rest of your home.
Several other costs are available as a deduction, especially for commissioned employees. You can still claim a deduction if you were reimbursed for these costs, but only if your employer included the reimbursement in your income (the amounts are on your T4).
Come in and see us to determine if you qualify for this credit.