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Best of intentions can lead to unexpected debt

Possible tax implications of moving home
Moving provinces can result in an unexpected tax bill if you are moving to a higher tax province than where you were working.

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709-221-5500

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This CBC News article points out a potential unintended consequence of moving home from Alberta during a taxation year.

Moving from a lower tax jurisdiction where you were working to a higher tax jurisdiction can lead to an unexpected tax bill as Canada Revenue Agency will calculate your tax for the year based on your province of residence as of December 31st of that year.

Follow the link above for the full article which has more information as well as tips for how to deal with your tax bill.

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