Updated T2200 Necessary For Employment Deductions

A popular question from taxpayers at tax time is "Can I write off my home and car against employment income?".  The answer is "Perhaps".

 

 

The newly released Form T2200, Declaration of Conditions of Employment contains some of the answers.  There are a number of changes to the form including questions regarding allowance or reimbursement of expenses by the employer and if the employee is required to be away from the municipality or metropolitan area for at least twelve consecutive hours. Review the new version of the form by linking to it here.

 

 

The Income Tax Act is very specific about the expenses that may be claimed by employees. They are specified in S. 8, generally deductible on Form T777 Statement of Employment Expenses and generally require the completion of Form T2200 Declaration of Conditions of Employment by the employer.

 

 

Form T2200 Declaration of Conditions of Employment required: All employees who claim employment expenses are required by S. 8(10) to complete Form T2200 for each year in which tax deductible expenses are claimed and have this signed by their employers.