A loan made to an individual or the individual's spouse when one or the other begins employment at a new workplace located elsewhere in Canada, provided the following conditions are met:

• The loan is designated by the individual as a home relocation loan.
• The loan is used to purchase a dwelling or a share of the capital stock of a housing cooperative, where the individual purchases such a share for the sole purpose of obtaining the right to live in a dwelling owned by the cooperative.
• The dwelling is occupied by the individual as his or her new residence and is at least 40 kilometres closer to the new workplace than the individual's former residence was.