Home office expenses for corporation
Can anyone do a sanity check for me? about 2k of eligible home office expenses (Total expenses x percentage of home used = 2k)
I found the following:
"Business-use-of-home expense is charged against your shareholder loan account (as though you made a loan to your corporation by paying for its share of these expenses). This reduces your shareholder loan balance for the year and the amount of the salary/dividend that you will reflect on your personal income tax return"
from "https://www.mclenehan.com/articles-and- ... e-expenses"
Does it mean that on top of reducing my corp taxes, I can transfer taxe free the amount to my personal account if no shareholder loan nor salary has been taken? What if a 60k salary has been taken? Does it mean, a 58k is what I should be declaring?
Thx
I found the following:
"Business-use-of-home expense is charged against your shareholder loan account (as though you made a loan to your corporation by paying for its share of these expenses). This reduces your shareholder loan balance for the year and the amount of the salary/dividend that you will reflect on your personal income tax return"
from "https://www.mclenehan.com/articles-and- ... e-expenses"
Does it mean that on top of reducing my corp taxes, I can transfer taxe free the amount to my personal account if no shareholder loan nor salary has been taken? What if a 60k salary has been taken? Does it mean, a 58k is what I should be declaring?
Thx