How do we know or calculate net income

How do we know or calculate our net income?

When entering moving expense, it asked to "Enter your net income for the year from employment or self-employment in the new work location".

Where do we find that info? I have my T4 from my employer after moving, but do I just enter the amount from box 14? Where can I find this net income amount?

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1 Best answer

New Member

Oct 29, 2019 11:11:36 PM

Hi,

Thank you for your question.

In regards to Moving expenses, if you are an employee then net income is income earned at your new location, less employment expenses.

If you have not incurred any other employment expenses, then you may enter box 14 of T4 after moving.

Hope this helps.

Thanks

New Member

Oct 29, 2019 11:11:36 PM

Hi,

Thank you for your question.

In regards to Moving expenses, if you are an employee then net income is income earned at your new location, less employment expenses.

If you have not incurred any other employment expenses, then you may enter box 14 of T4 after moving.

Hope this helps.

Thanks

New Member

Oct 29, 2019 11:11:37 PM

what is considered an "employment expense"?

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How do we know or calculate net income