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Acct461NotesCh3 - CHAPTER 3 Home Relocation Loan If...

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CHAPTER 3 Home Relocation Loan - If employee loan is made by employer to assist in a move that is at least 40 km closer to the new work location, there is an exemption on the calculation of the taxable benefit of the employee loan. - The exemption reduces taxable income (not employment income)
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Home Relocation Loan - The exemption is calculated as $ 25,000 x Prescribed Rate - Exemption is available for 5 years provided the loan to employee is still outstanding - New location must be 40km closer to the new work location
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