I listen to your radio show every Sunday, and I have now invested some
money with Fred Snyder. My question is there any income tax
deductions that I can claim re: my moving expenses? I was separated
from my husband last Sept. and moved to a condo, which provided me
with better living conditions re: my disability. Someone mentioned
that I could claim my moving expenses and maybe other expenses related
to the move. What info can you give me in regard? Thank you for your
time.
==========================================
david ingram replies:
Moving expenses are only deductible if the move brings you more than
40 Kms closer to a new job or employment. Note that a 40 km move "by
itself " does not qualify. You could, for instance live 25 km east of
your employment and move 60 miles west. You would now be 35 km from
your job and the move would not be deductible even though it was 60
km, 20 km more than the requirement.
I do not know what your disability is. There are disability
deductions for individuals with disabilities in Canada. However, the
disabilities have to be quite disabling. For instance, being confined
to a wheelchair qualifies but if a person had both legs amputated
below the knee and can walk around, there is no deduction.
Suffering from emphysema and being unable to walk more than 150 feet
at a time DOES qualify. Having such severe arthritis that one can not
dress themselves can also qualify and being blind or deaf can qualify
as well. A little known one is a disability exemption for being
mentally befuddled and unable to balance a chequebook or look after
one's financial affairs.
I would need to know more details but the real place to start off is
by taking the following form to your doctor. If the doctor will sign
it, you have a disability deduction. If your doctor will not sign it,
you do not have a disability deduction.
And Pain does not qualify. We have a lady client suffering from
severe arthritis. She had her disability deduction for several years
and then her doctor cancelled it. He met her walking on the seawall
and she told him that she forces herself to walk a quarter mile a day
on the seawall in West Vancouver. He disqualified her because she was
clearly walking more than 100 metres unassisted, painful as it was for
her to do so. On the other hand, if it took her seven hours to walk
the 1/4 mile, she would qualify.
Using sign language because of the loss of a voice box can qualify.
You can read the whole form at
http://www.cra-arc.gc.ca/E/pbg/tf/t2201/t2201-03e.pdf
Print the form out and if you think your disability would qualify,
talk it over with your doctor on your next visit.
For more details on what can be claimed for medical expenses look at
Publication 519R2 which you can find at the following URL
http://www.cra-arc.gc.ca/E/pub/tp/it519r2-consolid/it519r2-consolid-e.
html
Congratulations on using Fred Snyder. Fred has done more work on
picking the "right" mutual fund for a client than any other CFP I have
ever met. He has taken off-the-shelf software and modified its use
and written his own to such an extent that he is picking superb
portfolios. More importantly, he is sharing his knowledge every
Sunday Morning on 600 AM from 9 to 10 AM and every Thursday Night at
his office from 7 PM to 9:30 PM with the general public.
And sorry about your marriage breakdown. Mine ended in divorce court
10 days ago and I am still thinking about it. Since Feb 28, 1964 I was
divorced from Dec 13 82 until Dec 31, 1982 and now from Jan 27, 2005
to today Feb 6, 2005. What's that, one month or so. Feels weird.
Answers to this and other similar questions can be obtained free on
Air every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee
Wealth Management and I, David Ingram host a LIVE talk show called
"ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the
internet at
www.600AM.com
Local calls are taken at (604) 280-0600 and Long Distance calls are
taken at 1( 866) 778-0600
Callers to the show are invited to attend free seminars on financial
planning with such specialities as deductible mortgage interest. They
are held at Fred Snyder's Office at 1764 West 7th in Vancouver - (604)
731-8900 for more information.
=========================================
Every Thursday evening Fred Snyder and I hold a free seminar at Fred's
office at 1764 West 7th (corner of Burrard in the Spence Diamond
building) in Vancouver.
The topics are:
Seg funds and an alternative to the traditional RRSP.
Making your mortgage income tax deductible
Critical Care insurance for disasters.
coffee and cookies of course.
Phone 604-731-8900 to reserve your seat -and, you are welcome to bring
your brother, your sister, your mother or father, your children, your
best friend, your worst enemy or your own financial advisor who hasn't
explained how to make your mortgage deductible.
==========
David Ingram's US/Canada Services
US / Canada / Mexico tax, Immigration and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 Fax (604) 980-0325
Email to taxman at centa.com
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed
information or consultation and is to be regarded only as general
comment. Nothing in this message is or should be construed as advice
in any particular circumstances. No contract exists between the reader
and the author and any and all non-contractual duties are expressly
denied. All readers should obtain formal advice from a competent and
appropriately qualified legal practitioner or tax specialist in
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If you forward this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
==============================
This from "ask an income tax and immigration expert" from
www.centa.com or www.jurock.com or www.featureweb.com. David Ingram
deals on a daily basis with expatriate tax returns with:
multi jurisdictional cross and trans border expatriate problems for
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states with state tax returns, etc. Rockwall, Dallas, San Antonio and
Houston Texas
Denmark, Finland, Sweden Norway Bulgaria Croatia Income Tax and
Immigration Tips, Income Tax and ImmigrationWizard Income Tax and
Immigration Guru Income Tax and Immigration Consultant Income Tax and
Immigration Specialist Section 216(4) 216(1) NR6 NR-6 NR 6
Non-Resident Real Estate tax specialist expert preparer consultant
expatriate anti money laundering money seasoning FINTRAC E677 E667
4789 4790 TDF-90 Reporting $10,000 cross border transactions
=========================
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