US Tax Reform and Employee Relocation

Rick Taylor February 23, 2018 Press Release, News, Oakville

With this new tax bill, relocation expenses will be deemed a taxable benefit to the employee even if the various costs are paid by the corporation.

Likewise, a person moving to a new job location who is paying for the move themselves will not be able to claim relocation expenses on their personal taxes.

These changes could have a large impact to the relocation industry as it will drive up costs as the corporation will probably "gross up" an employee's income to pay for the tax consequences of their relocation.

It will be interesting to see how this impacts the amount of employee relocations per year or if the corporation reduces other relocation benefits to reduce their costs.

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Greater Toronto Area Housing Slowing Down

Rick Taylor February 16, 2018 Press Release, Overseas Moving, Local Moving

The month of January 2018 saw 4019 residential homes sold a decrease of 22% from January 2017's 5155 homes.

Listings increased to 8558 indicating properties are not moving as quickly.

As far as prices go the condo market continues to lead the way. Detached home prices were actually down 4.1% to $736,783 while condos were up 5.2%.

It will be interesting to see how the market does for the rest of 2018.

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Opportunity to Help Can Happen Quickly

Rick Taylor February 12, 2018 Press Release, Events, Overseas Moving

When we looked into what Susila Dharma International does we were surprised by the scope of their efforts. I would urge everyone to take a look at their website as well www.susiladharma.org.

It surpirses me each time we are able to help out how much it does for our own staff, how they feel when they know they are making a difference. It's not only charity but good business!

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