Let Revenue Canada finance your move!

    Certain moving expenses are deductible when computing your income for the year, depending on your tax bracket you could reduce your bill by up to 50% of your expenses.


YOU ARE ELIGIBLE IF:

  • You are moving to a new location to start a job or a business, or attend courses full-time at a post-secondary institution.
  • Your new home is at least 40-KM closer to your new place of work or school.

EXPENSES THAT ARE DEDUCTIBLE ARE
:

  • Traveling expenses include vehicle expenses, meals, and accommodation.
  • Transportation and storage of personal effects.
  • Cost of cancelling at your previous residence.
  • Up to 15 days of meals and accommodation near either residence if your moving dates do not coincide.
  • Selling costs of your old residence including real estate commission.
  • Legal fees on sale of previous residence and purchase of new residence.
  • Mortgage penalty.
  • Advertising
  • Legal fees and land transfer for purchase of new residence.
  • Utilities disconnection/reconnection costs.
  • Mortgage interest, insurance, property taxes and utilities associated with old residence while attempting to sell it, to a limit of $5,000 for a maximum of 3-month period.

EXPENSES THAT ARE NOT DEDUCTIBLE ARE
:

  • Loss on the sale of your previous home.
  • Expenses for house-hunting trip before your move.
  • Cost of work done on your former residence to make it more saleable.

OTHER COMMENTS
:

  • Deduction is limited to income earned at new location - can be carried forward to other years.
  • Deduction is reduced by any reimbursement received from employer.
THIS IS TO BE USED AS A GUIDE ONLY READERS SHOULD CONSULT A PROFESSIONAL ADVISOR BEFORE ACTING ON THE ABOVE



Beebe Cline - Hugh & McKinnon
14007 16th Ave, White Rock, BC, V4A 1P9

Toll Free: 1-888-419-1909, Cell: 604-531-1909, Fax: 604-531-4624
Email: bcline@shaw.ca, Websites: www.beebecline.com and www.whiterocklifestyles.com

Latest Listings

East Beach

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835 STEVENS STREET

$2,248,000

  • 3,365 sq.ft.
  • 6 Beds
  • 3 full & 1 half baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

South Marine

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1704 3430 E KENT AVENUE

$959,000

  • 943 sq.ft.
  • 2 Beds
  • 2 full baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

White Rock

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1003 14824 NORTH BLUFF ROAD

$1,399,000

  • 1,474 sq.ft.
  • 2 Beds
  • 2 full baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

Crescent Bch Ocean Pk.

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1408 129A STREET

$1,922,000

  • 2,516 sq.ft.
  • 3 Beds
  • 2 full & 1 half baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

White Rock

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14027 BLACKBURN AVENUE

$2,188,800

  • 3,604 sq.ft.
  • 4 Beds
  • 3 full & 1 half baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

Morgan Creek

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29 3300 157A STREET

$2,269,000

  • 3,906 sq.ft.
  • 5 Beds
  • 3 full & 1 half baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

White Rock

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507 1575 BEST STREET

$775,000

  • 1,314 sq.ft.
  • 2 Beds
  • 2 full baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

White Rock

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201 1467 MARTIN STREET

$568,000

  • 1,065 sq.ft.
  • 2 Beds
  • 2 full baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

Grandview Surrey

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16211 31 AVENUE

$2,795,000

  • 4,173 sq.ft.
  • 6 Beds
  • 4 full & 1 half baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

White Rock

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1349 ANDERSON STREET

$7,900,000

  • 5,848 sq.ft.
  • 7 Beds
  • 6 full & 2 half baths
  • Listing Provided By:
    Hugh & McKinnon Realty Ltd.

The data relating to real estate on this web site comes in part from the MLS Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLSR logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Copyright 2024 by the Real Estate Board of Greater Vancouver, Fraser Valley Real Estate Board, Chilliwack and District Real Estate Board, BC Northern Real Estate Board, and Kootenay Real Estate Board. All Rights Reserved.