TaxTeam

08/25/2026

📚 TAX TIP TUESDAY: Moving Away for School? 🚚

Heading off to university or college this fall? You may be wondering if your moving expenses are tax deductible.

Here’s the important part: not every move for school qualifies.

Generally, you may be able to claim eligible moving expenses if you move to attend a full-time program at a post-secondary institution and your new home is at least 40 km closer to the school.

💡 One important catch: Moving expenses can generally only be deducted against eligible income you earn at your new location. So, if you’re moving away for school but don’t have eligible income in that location, you may not be able to use the deduction right away.

Some eligible expenses may include:
🚗 Travel and transportation costs
⛽ Vehicle expenses
🏨 Temporary accommodation
📦 Moving and storage costs
🏠 Certain costs related to your old and new home

Keep those receipts! 📑 You may be able to claim eligible expenses now or carry forward an unused amount for future eligible income.

🎓 Moving away for school? Don’t assume you can’t claim your moving expenses — check the CRA rules to see if you qualify!

📍 TaxTeam Accounting Solutions – Moose Jaw, SK

07/21/2026

💡 Tax Tip Tuesday: Don’t Accidentally Overcontribute to Your TFSA!
Did you know that withdrawing money from your TFSA doesn’t automatically restore your contribution room?
Here’s what you need to know:
✅ When you withdraw money from your TFSA, that contribution room is generally added back on January 1 of the following year.
⚠️ If you recontribute before you have enough available contribution room, you could overcontribute.
The CRA may charge:
📌 A 1% tax per month on the excess amount until it’s corrected.
We’ve recently seen several people receive CRA letters after making this common mistake, so it’s always a good idea to check your available contribution room before making a deposit.
📬 Received a letter or electronic notice from the CRA about your TFSA?
Don’t ignore it! Contact TaxTeam Accounting Solutions right away. We’re happy to review it with you and help you understand what it means.
📍 TaxTeam Accounting Solutions
🕘 Monday–Thursday | 9:00 AM – 5:00 PM

07/01/2026

06/15/2026

A great day for TaxTeam Accounting!

We’re excited to welcome Home Traylen after two years of overseas work. It’s wonderful to have her back in the office.

We also took some time to enjoy a team lunch and a little friendly competition with a co****le tournament. Congratulations to Christine and Mike, who managed to come out on top and claim the championship title! 🏆

A great reminder that strong teams are built both inside and outside the office.

05/14/2026

We will be closed May 15-18
Opening back up for regular office hours on Tuesday May 19
Monday to Thursday 9 am - 5 pm

03/30/2026

Active Family Benefit
for more information:
https://www.saskatchewan.ca/residents/parks-culture-heritage-and-sport/sport-and-recreation/programs-and-supports/active-families-benefit