Author Topic: Most efficient way to move from one province to another?  (Read 1938 times)

moustacheverte

  • Stubble
  • **
  • Posts: 134
  • Age: 32
  • Location: Canada
Most efficient way to move from one province to another?
« on: December 26, 2016, 04:38:16 PM »
We got jobs in another province, and we have to move next month. We are selling most of the furniture, but we still have a mattress, bicycles, a flat TV, clothes, kitchen stuff, bathroom stuff, etc.

It's a bit overwhelming to organize and I was hoping to get some good advice here. I'd rather not rent a UHaul truck because it's a 7h drive in the middle of winter: it will cost a ton in gas, they charge a one way dropoff fee of 200$, and I'm not too comfortable driving such a big boat.

We will move our things to the new city and put it in storage while we rent an AirBNB or short stay place for a month to look for an appartment, and then move the things from storage to the new place we will find. We would go by train (50$ only per person + 50$ for the cat to travel with us).

The load it yourself container thing seems like overkill since we have a small 1 bedroom apt, and they want 2500$. Movers want around 1000$ to load the things in their truck (we pack) and unload it wherever in the new city. Things won't fit in a car, and car rentals want a 300$ one way fee anyway.

Any tip/solution I didn't think about/things I overlooked?
Any recommendation for self-storage in Toronto?
Insurance for the things while they travel and are in storage?
Any advice from anyone who has already done that?

Thanks, and happy holidays!
« Last Edit: December 26, 2016, 05:19:02 PM by moustacheverte »

MrsPB

  • Stubble
  • **
  • Posts: 160
Re: Most efficient way to move from one province to another?
« Reply #1 on: December 27, 2016, 07:29:10 PM »
I have done it but it was not cheap! Moved west coast to east coast a few years back. Rented a furnished apartment sight unseen (worked out fine) and flew there. Sold most things including mattress, couches. Shipped 16 packing boxes via Purokator for $1k but some stuff was damaged, all non essential though. Looking back, most stuff could have been left behind. Did have a moving truck a few months later, once we bought a house, for a kit car build of my husbands, and put my road bike in there but barely anything else. If we didn't have the car to move, probably would not have used or needed any further moving services/trucks but at that point we didn't really have that much stuff of value.
Shipped my car by train 3 weeks before moving and managed borrowing various friends cars etc during those last few weeks before the move. If I could have done it over, would have sold everything and started fresh in new place, shipped essentials like documents etc by purolator. Really helps to assess whether you need/want something when you know how much it's gonna cost to transport it/store it etc!
« Last Edit: December 27, 2016, 07:32:22 PM by MrsPB »

MrsPB

  • Stubble
  • **
  • Posts: 160
Re: Most efficient way to move from one province to another?
« Reply #2 on: December 27, 2016, 07:32:52 PM »
Also moving expenses are tax deductible!

RetiredAt63

  • Senior Mustachian
  • ********
  • Posts: 10560
  • Location: Eastern Ontario, Canada
Re: Most efficient way to move from one province to another?
« Reply #3 on: December 28, 2016, 06:00:50 AM »
Also moving expenses are tax deductible!
If you are moving to be closer to a job/school.  Some of us on these forums are retired, no tax deduction for us.

K-ice

  • Pencil Stache
  • ****
  • Posts: 905
  • Location: Canada
Re: Most efficient way to move from one province to another?
« Reply #4 on: December 28, 2016, 08:38:23 AM »
This advice is probably too late but if you are moving between provinces with different tax rates plan your move to your advantage.

Ie move to Alberta before Dec 31.
 Move to Quebec in January so you can still file taxes in your old province for 2016. 

Those are the two extremes but even a smart move between Quebec & Ontario can help tax wise.


moustacheverte

  • Stubble
  • **
  • Posts: 134
  • Age: 32
  • Location: Canada
Re: Most efficient way to move from one province to another?
« Reply #5 on: December 29, 2016, 12:56:40 PM »
This advice is probably too late but if you are moving between provinces with different tax rates plan your move to your advantage.

Ie move to Alberta before Dec 31.
 Move to Quebec in January so you can still file taxes in your old province for 2016. 

Those are the two extremes but even a smart move between Quebec & Ontario can help tax wise.

Is it because your tax rates will be calculated based on where you lived on 31-dec? So say you worked all year in QC but relocated to ON the last week of december, you'll pay income tax as if you were in ON for all of 2016?

K-ice

  • Pencil Stache
  • ****
  • Posts: 905
  • Location: Canada
Re: Most efficient way to move from one province to another?
« Reply #6 on: December 29, 2016, 04:23:50 PM »
Yes I believe so.

Check with an accountant to see what kind of "proof" you need to show you moved.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/prsnl-nf/prvnc/menu-eng.html

http://www.taxtips.ca/filing/provinceofresidence.htm

http://taxtalk.hrblock.ca/life-changes-tax/moving-tax/whats-my-province-of-residence/

https://www.google.ca/amp/s/sec.theglobeandmail.com/globe-investor/personal-finance/taxes/turn-your-next-move-into-a-tax-deduction/article13119481/%3Fservice%3Damp?client=safari

The last link is probably the best. It says:

"Time your move

You’re generally considered to be resident in the province in which you resided on Dec. 31 each year. So, if you’re moving to a lower-taxed province, you would be wise to consider moving in this calendar year rather than next year. This will entitle you to the lower rates of tax for the entire year."








MrsPB

  • Stubble
  • **
  • Posts: 160
Re: Most efficient way to move from one province to another?
« Reply #7 on: December 29, 2016, 04:34:58 PM »
Yep, this happened to me. Moved BC to NS in the September. Owed a bunch of extra income tax as was taxed for whole year at NS tax rate which is higher. Unavoidable but still sucked at the time,but then I compare house prices and I'm ok with it 😀.