Here's Which Moving Expenses You Can Get Tax Breaks For

It's officially moving season! Did you know that certain aspects of your move can be written off on your taxes?

According to a new Income Tax Folio released by the Canada Revenue Agency, here's which tax breaks you can take advantage of!

Eligible relocation types

You won't be able to claim moving expenses for a personal move, but you can deduct for relocations made for work or school as long as you live in the new residence most of the time, both your old and new residences are located in Canada, and your move puts you 40 kilometres closer to work or school.

Additionally, you can also claim moving expenses if:

• They were not paid for by your employer
• They were not deducted previously
• They were not deducted as a different expense
• They aren't more than your income for the year
• You are not reimbursed for the move in your income
• All moving expenses claimed must be paid by you

Expenses to claim

• Travel costs for yourself and your family
• Transportation and storage fees
• Food and lodging for a maximum of 15 days
• Lease cancellation fees
• Legal fees
• Replacement of driver's license and vehicle permit
• Costs associated with connecting and disconnecting utilities
• Costs associated with selling your old home
• Land transfer fees
• Costs pertaining to your old home while it remained vacant waiting to sell (up to $5,000)

More money saving tips
Moving to a cheaper province? Since you'll be taxed in whichever province you live starting on Dec. 31 you'll want to complete your move before the end of the year, or hold off if you're moving to a higher-taxed region.

To learn more about deducting work moving expenses and school moving expenses, check out our helpful tax guides!