I moved from the UK to Canada for school. Can I deduct moving expenses?

Allan Madan, CA
 Nov 12, 2013
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According to the CRA, if the taxpayer changes residences and begins full-time attendance at a post-secondary institution (whether or not in Canada), eligible moving expenses (from old residence to new) may be deducted if the move results in you living at least 40 KMs closer to the institution.

Also, at least one of the residences must be in Canada. Eligible moving expenses must first be deducted in the year of the move to the extent of the income for that year. If eligible moving expenses are greater than income, the excess can be carried forward and deducted in future years.

 

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The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.

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