Should you qualify for a deduction in respect of home office expenses, the amount must be calculated on the following basis:
A / B x total costs, where:
- A = the area in m² of the area specifically equipped and used regularly and exclusively for trade
- B = the total area in m² of the residence (including any outbuildings and the area used for trade in the residence)
- Total costs = the costs incurred in the acquisition and upkeep of the property (excluding expenses of a capital nature)
Enter the expense amount calculated next to the source code 4028 on your return.
