Question
Question On July 1, Mr. Kumar moved from Saskatchewan to Prince Edward Island at the request of his employer. His income earned in PEI for
Question
On July 1, Mr. Kumar moved from Saskatchewan to Prince Edward Island at the request of his employer. His income earned in PEI for the remainder of the year was $8,800. Mr. Kumar incurred the following costs of moving:
Transport of household effects$5,000
Travel - self, spouse, and three children$2,000
Legal fees - house purchase in PEI$900
Cancellation costs - lease in Saskatchewan$750
Temporary accommodation while waiting
for new house at $70 per day for 30 days$2,100
House-hunting trip (prior to move)$500
Which one of the following amounts represents the maximum amount that Mr. Kumar may deduct for moving expenses this year in his personal income tax return?
Question 6 options:
1)
$10,750
2)
$ 9,850
3)
$7,000
4)
$ 8,800
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