From Small Business BC
Home based businesses receive some favorable tax treatment by the Canada Revenue Agency. If you are self-employed or a sole proprietor and your principle place of business is your home, you may deduct a portion of your home expenses from your business profit. These deductions include:
- Rent or Mortgage interest
- Insurance
- Utilities
- Property taxes
- Maintenance fees
Would you like to feel more in control of your finances? Check out our free On-Demand SMART course, “Financial Fitness: Keep Your Business Financially Healthy.”