Caisses Desjardins du Québec and Caisses populaires de l'Ontario [Change site]
Some moving expenses are tax deductible
Have you recently relocated to start a new job? Have you moved to attend a post-secondary educational institution? If so, you may be eligible to deduct some expenses from the income you earn in the new location.
Expenses that can be deducted include:
- hiring movers
- van rentals
- storage
- accommodations
- cost of selling your home or breaking your lease
If you do not claim these expenses in the year of the move, you can carry them in subsequent years and claim them against income earned at the new location.
If you are a student, you may also deduct certain moving expenses from award income (e.g. scholarships, bursaries, grants) to attend a post-secondary educational institution. If your moving expenses are greater than the award income received, the unused portion can be claimed against award income received in the following years.
Take note that some moving expenses, such as mail forwarding costs, expenses incurred for job hunting or any loss from the sale of your home, cannot be claimed.
Find out more
To get all the facts about which moving expenses may or may not be claimed on your income tax return, be sure to visit the Canada Revenue Agency Web site. For other tips and information about moving day, see Get ready for moving day.
For all of the articles, visit the Did you know page.
