Tax Tips
Moving Expenses
If you relocate to start a new job or a new position with the same employer, you may be able to deduct some of your moving costs from your taxable income.
In order for moving expenses to be deductible, your new residence must be at least 40 kilometers closer to your new place of employment. However, if your employer pays for some of your moving expenses, you cannot claim those expenses.
Moving expenses are deductible only from a taxpayer’s net earnings at the new location. So if you move later in the year, and only earn a few weeks of income at your new job then you may find your deductions are limited. However, eligible moving expenses that cannot be deducted in the year of the move may be carried forward and claimed against net earnings from the new location in a subsequent year.