Deduct Your Moving Expenses

 

If you moved in the last year, you may be able to claim the costs against your taxes if you moved to start a business (so even if you became self-employed at your new location), to begin working at a new location or to go to school. Your new residence has to be 40 km closer to your work/school than your old residence, and you’ll be able to deduct everything from travel costs, moving and storage costs, lease cancellation costs and legal costs for selling and buying a property. Your tax claim must be against income earned in the new location. Don’t worry if you have a stack of expenses and not enough income; you can carry them forward and claim them next year.

 

 

 





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