Question

Mary used to work and live in Alberta but accepted a new job in Ontario. The new job has a starting salary of $120,000 per year, or $10,000 per month. She moved there with her family in October to start her new job on November 1. While she had rented her accommodations in Alberta, she bought a new house in Ontario. She incurred various expenses due to the move. How much can she claim for moving expenses for the year of the move?

(A question about specific details of moving expenses and tax regulations would need to be provided for options)
A) The correct claim amount
B) An incorrect claim amount
C) Not enough information to determine
D) None of the above

Answer 1

To determine the claim amount for moving expenses, Mary needs to consult tax regulations and gather relevant documentation. It is not possible to determine the exact claim amount without specific information.

Step-by-step explanation:

To determine how much Mary can claim for moving expenses for the year of the move, we need to consider the tax regulations in Canada. According to the Canada Revenue Agency, moving expenses can only be claimed if the move is for employment and the new work location is at least 40 kilometers closer to the new home. In Mary's case, she moved from Alberta to Ontario for a new job, which meets the requirement.

Some examples of eligible moving expenses include transportation costs (such as moving trucks or mileage), travel expenses, storage costs, temporary lodging expenses, and legal or professional fees related to the move. However, personal expenses like the purchase of a new house or selling a previous house are not eligible for the moving expense deduction.

To determine the exact claim amount, Mary would need to gather all the relevant receipts and documentation and consult a tax professional or refer to the Canada Revenue Agency's guidelines for moving expenses. Without knowing the specific expenses incurred by Mary, it is not possible to provide an exact claim amount. Therefore, the answer is C) Not enough information to determine.