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Tax Question RE: Moving Expenses...HELP!!

echo

TRIBE Member
Ok so here's the scenario:

Moved to BC to work at new company. Company either paid for or reimbursed most of the costs of moving. Most reimbursements are considered non-taxable benefits and are not included on the T4 slip.

However - a certain amount was included on the T4 slip for money reimbursed for temporary accomodations OVER 15 days.

ie. Stayed in a temporary residence for 21 days. The company paid for all 21 days but only the first 15 days are considered "non-taxable" thus the amount paid for the last 6 days was included on the T4 slip as a taxable benefit.

What I want to know is - can I claim the extra 6 days of accomodations as a moving expense on the tax return?

If so, how would I go about doing it?

At the moment I have it so that I am claiming 6 days of temporary accomodations in the taxable benefit amount that was added onto my T4. Only problem is, I am also claiming food expenses since the allowance they provided didn't cover the cost of food. So I am claiming 15 days of food expenses (the maximum) and only 6 days of temporary accomodations (since the company paid for the first 15 days) so it looks kinda sketchy.

Even when I include the company reimbursement for the food allowance and the amount that the company paid to help offset the costs of taxes on the taxable benefit.....it increases the refund by over 300.00. Is that right?
 

echo

TRIBE Member
I've noticed that poot provided some great advice to people with tax questions in the past, so I was hoping she might respond!

But I also recall a couple other people that seemed knowledgable in the area too (baystreetboi being one of them). So I thought I'd try and reach as many tax/accountant types as possible in one go!
 

Poot

TRIBE Member
The reason the 6 days have been included as a taxable benefit is because the maximum period for moving expense (lodging) eligibility is 15 (consistent with what you already quote re. the food expenses.) The first 15 are not taxable, however because the maximum eligibility as 15 days, anything beyond that, for which you have been reimbursed, will be considered a taxable benefit.

If you were paying the expenses out of pocket, you would only have been able to claim the first 15 days.
 
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Metal Morphosis

TRIBE Member
Jeremy Jive said:
Ask Poot, she's the only accountant I know of on here.
Poot - maybe you can help me out with some moving expense questions too?

I moved from Montreal to Toronto in 2005, none of my moving expenses were covered by my new Toronto employer so i'd like to claim them on my tax return. I moved everything myself (with the help of some friends and with more than one vehicle).

Line 1 is the "cost of transporting and storing household effects"
Line 2 is "travel expenses related to the move" there is a space for the # of kms in this section

How am I to figure out what goes where?
We made a number of trips to collect all my stuff (over the course of a few months) Do I just put the total number of kms so if Montreal - Toronto is 550km (one way) do i just multiply it by the number of one way trips were made with 2 vehicles? Do I multiply the kms x the cents/km for the answer in Line 2? What is the mileage rate i'm supposed to use... i've looked on the tax canada website but can't find shit other than the forms.

And then what goes in Line 1?

please help - :|

thank you for any advice.

Lisa
 

Poot

TRIBE Member
As far as I'm aware, the KM is to be the shortest normal route of travel between points A & B, i.e. to ensure that the minimum 40km distance criteria is met (you must move a min. of 40 km in order to deduct expenses.) So the appropriate km to put here would be the one-way total km of travel incurred.

I believe "travel costs" are meals & lodging, and a max of 15 days' worth can be claimed.

"moving costs" are the costs specifically incurred to move or store your items, and are separate from travel & lodging.
 

Poot

TRIBE Member
Also, costs re. revising legal documents (i.e. diver's license, vehicle permits) as well as lease cancellation costs are also eligible under moving expenses.
 

Metal Morphosis

TRIBE Member
Poot said:
Also, costs re. revising legal documents (i.e. diver's license, vehicle permits) as well as lease cancellation costs are also eligible under moving expenses.
thanks - i knew this part b/c when i moved from toronto to montreal a few years ago my accountant claimed these. I've been using my 2003 return as a guide but i was confused by Line 1 & 2 as I'm not sure how he arrived at the totals.

This is helpful though. Thanks a lot.

Lisa
 

Poot

TRIBE Member
I'm not a tax accountant by trade, and it's also been a couple of years since I've done returns other than my own, but the info above is as I recall it.

(my disclaimer)

I think you can download the guide from the CRA website, which may explain the exact specs for the lines you asked about. In general, however, as I've explained is how I would interpret.

Hope it helps.
 
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