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Tax Consequences of accepting a job in another Province

Residency:

Your province of residence for tax purposes is where you were living on December 31 of the tax year. If you moved to another province or territory during the year, use the tax package for the province or territory you resided in on December 31, 2013.

If you live in Quebec and work in another province you need to request a tax transfer to Quebec. You have to file a separate provincial return for Quebec.

Moving Expenses:

If the move is more than 40 kms for the new job you may deduct moving expenses.

You must fill out form T1-M for each move. Moving expenses are claimed on line 219 of T1.

Following is a list of eligible expenses you can claim:

Transportation and Storage costs.

Travel Expenses.

Temporary living expenses.

Cost of cancelling your lease.

Incidental costs related to your move.

Cost to maintain old residence when vacant.

Costs of selling the old residence.

Costs of purchasing the new residence.

Disclaimer:

This information is for educational purposes only. It does not constitute any legal advice or opinion. Please do not use any of its contents without seeking a professional advice.

References:

http://www.taxtips.ca

http://www.cra-arc.gc.ca

http://www.freetaxadvice.ca

101 Tax Secrets for Canadians by Tim Cestnick

 

Mansoor Suhail (Mani)

Accountant

MS TAX – BSBA – EA – ICIA – RA

Tax for Canada and U.S.A

Web: www.theaccountingandtax.com and www.taxservicesguru.com

Blog: http://taxservicesguru.blogspot.ca

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