Moving Expenses

movingAre you employed or self-employed? Or are you a full-time student? If you move within Canada to start a new job or business, you probably already know that some of your moving expenses are deductible from the income you earn in the new location. There are many expenses that can be deducted on your return including: storing your furniture, lodging, meals, hiring movers or renting vans to move, meals and lodging for you and your family, and even cost of breaking a lease.  These expenses are deducted from the income your earned at the new location/job in the year you move.

Expenses that are not claimed in the year of the move can be carried forward and claimed in years after you move against income earned at the new work location.

Students are also entitled to a moving deduction on their return.  This deduction is eligible in a situation where the student receives award income (ie. scholarship) and they move to attend courses as a full-time student at a college, university, or other institution offering post-secondary education. Even if the student’s moving expenses are more than the award income reported for the year of the move, the unused portion of the expense is still deductible from any award income reported in future years.

For more information, please view Canada Revenue Agency

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