T2200S form available for employees working from home in 2021
The Federal Government has extended the “temporary flat rate method” to claim home office expenses for the calendar year 2021. The amount has also been increased from $400 in 2020 to $500 in 2021.
Through their website, the CRA has provided additional information on how employees will be able to claim remote work expenses. Employees continue to have the option of using the “Temporary Flat Rate Method” or the “Detailed Method” which requires employees to track allowable expenses based on defined use criteria and the employer to provide a T2200 Short Form. Full information regarding the two options can be found here.
We encourage all employees to visit this site to learn more about their options and to determine which process will better meet their individual needs. To assist with this decision the site also includes a calculator specifically designed to assess eligible home office expenses. This will help employees to make an informed choice regarding whether the additional effort required to use the Detailed Method will be worthwhile for them.
While we believe that the Temporary Flat Rate Method will be welcome news for most of our employees given its ease of use and deduction level, we do understand that there may still be situations where the Detailed Method is preferred.
As such, the University will be providing all staff, with some exceptions in Physical Plant and Security Services, that have remained working on campus, with an auto generated T2200S form. It is the responsibility of each employee to determine their own personal eligibility to claim home office expenses based on the criteria set forth by the CRA.
These forms will be available through Employee Self Service for all active employees, before the end of February.
All employees are encouraged to seek independent tax advice when preparing their 2021 tax returns.