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Moving Costs and You!

The CRA (Revenue Canada) helps with moving costs too

1. Moving expenses can be deducted on Line 219 of your tax return from subsequent earnings if you move at least 25 miles (40 km) closer to a new workplace or post-secondary school (award income is considered earned income). For example, you'll save 40% of your moving costs if you're in the 40% tax bracket. Obtain a copy of Form T1-M from your local Tax Services Office, or download or order a copy at www.cra.gc.ca/forms. It contains full details regarding the claimable moving expenses.

If your employer is paying for some of your relocation costs, let the employer pay for those that are not deductible and are not considered taxable benefits. To know which are taxable benefits and which are not, you need to refer to the latest Employers' Guide - Taxable Benefits (T4130). You can visit your nearest Tax Services Office or call 1-800-959-2221, or you can download or order it at www.cra.gc.ca/forms.

2. Moving expenses up to $2,000 (that have not been claimed on Line 219 of anyone's return) can be claimed on Line 330 of the tax return, to move an individual (or spouse, common-law partner, or dependant) who has a severe and prolonged mobility impairment or who lacks normal physical development, to more accessible housing. The maximum provincial claim for the moving expenses (Line 5868) may be higher.

This site was designed as a consumer service to help Buyers and Sellers make informed real estate decisions. Ever year we see consumers struggle with the same questions and problems over and over again.  We know that it is often difficult to get relevant information when you are looking to buy and sell a home. In order to better educate and inform buyers and sellers, we have provided comprehensive information as a FREE No-Obligation Service. Many buyers and sellers who visit this site are so impressed with this service that they will contact us (or one of our sponsors) in order to assist them in the purchase or sale of their home. We truly hope that you find these reports, information, tools and resources helpful and we look forward to helping you with your move.

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