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When can you deduct your moving expenses on your income tax return?

March 03, 2024
When can you deduct your moving expenses on your income tax return?

Your moving expenses may be tax deductible if you meet the following two conditions:

  1. You moved in order to hold a job, practice a profession, operate a business, or attend an educational institution where you were enrolled full-time in a post-secondary program;
  2. You moved at least 40 kilometres closer to your place of study or new place of work.

Deductible expenses include most of the usual moving expenses, such as:

  • movers;
  • truck or trailer rental;
  • the cost of transporting and storing your belongings;
  • travel expenses (accommodation, meals, vehicle) to get to your new place of residence;
  • the cost of maintaining your former vacant home (maximum $5,000) after you move and during a period in which serious efforts have been made to sell it;
    expenses related to the sale of your home (advertising, commission paid to the real estate broker);
  • the cancellation of your lease;
  • costs related to the purchase of your new home, provided the old residence has been sold (legal fees, commission paid to a real estate broker, transfer duties);
  • costs to update your legal documents (wills, mandates).

Keep in mind:
Even students who move for summer employment are eligible. Note that only expenses related to a move within Canada are deductible.

Do you have questions?

Contact us at 1 844 200-TAXO (8296), a member of our team will be happy to assist you. As you know, our service is available year-round; you can deposit your receipts at any time in your Customer Center at taxo.ca.