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Certain moving expenses are deductible when computing your income for the year. Depending on your tax bracket, you could reduce your taxes by up to half of your moving 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 a least 40-kilometres ...
Purchasing a home involves one-time costs and monthly expenses. The largest one-time cost is the down payment. It usually represents between 5-25% of the total price of the property. In addition to the actual purchase price, there are a number of other expenses that you might be expected to pay for. These are listed below:
GST: You must pay 7% GST on newly con ...