Which moving expenses can I deduct?
The following moving expenses can be claimed if you meet the basic eligibility requirements:
- Travel expenses such as a vehicle, meals, and accommodations (using a detailed or simplified method).
- Transportation and storage costs: Expenses such as packaging, insurance, hauling, movers, and transit storage.
- Cost of cancelling your lease.
- Incidental expenses pertaining to the move such as changing addresses on legal documents such as driving license, and utility disconnection and hook-ups.
- Costs to maintain an old home: You can claim up to a maximum of $5,000 in expenses if reasonable efforts were made to sell your old home. These expenses are interest, property tax, insurance premiums, utilities and heating expenses.
- Expenses related to selling your old home: Expenses such as notary or legal fees, real estate commissions, advertising, and mortgage penalties for mortgages paid off before maturity.
- Expenses related to purchasing the home in the new location, such as legal or notary fees, as well as any taxes paid (excluding GST/HST) for registration or transfer of title.
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