Your weekly dose of tax knowledge - become tax savvy in just 2 minutes!
Q: My company is renting a room in my house as office. The rental includes electricity and water charges. Is the rental tax deductible for the company?
A: If the room is used for business purpose, the rental will be tax deductible for the company. It is advisable for the company to register the house address as the business premises of the company.
Wishing you plentiful tax savings!
YYC Tax Guru