Calculating business-use-of-home expenses
Example
The following is an example of how to calculate the business-use-of-home expenses:
Calculation of business-use-of-home expenses
$1,200.00
7A
$1,000.00
7B
$650.00
7C
$350.00
7D
$8,000.00
7E
$1,800.00
7F
Other expenses (specify): Water
$300.00
7G
Subtotal: Add amounts 7A to 7G
$13,300.00
7H
Personal use part (162 ÷ 180 × $13,300)
$11,970.00
7I
Subtotal: Amount 7H minus amount 7I
$1,330.00
7J
Capital cost allowance (business part only)
$0.00
7K
Amount carried forward from previous year
$150.00
7L
Subtotal: Add amounts 7J to 7L
$1,480.00
Line 7M
Net income (loss) after adjustments
$7,100.00
Line 7N
Business-use-of-home expenses available to carry forward: Amount 7M minus amount 7N (if negative, enter "0")
$0.00
7O
Allowable claim (the lesser of amount 7M or 7N above)
$1,480.00
Line 7P