Although tax season is now over for this year, please remember to keep next year's taxes in mind when you are moving this year.
Did you know that many moving expenses can be tax deductible? It's important to keep your receipts! Students, employees and (in some cases) employed-working-at-home may be eligible to claim a portion of travel expenses, transportation costs, legal fees, fees associated with selling your residence and some incidental costs associated with the sale of your home/moving.
Please review this great article on Sutton.com. It is a helpful guide as to the details of who is eligible and what, specifically, may be tax deductible. Please remember it is important to always consult a certified accountant for the most current Revenue Canada guidelines around this or any other possible tax exemption.
Every little bit helps!
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