As a home seller, if you moved in 2016 you are eligible to claim your moving expenses if you meet specific criteria. One of the most important factors, is if you moved to be closer to your NEW place of employment or business. If you started a new new job and you moved in order to be closer to the new job, then you may be eligible. Specifically, you would need to move 40km closer to your place of employment in order to claim your moving expenses.
If your move did not result in you moving 40kms closer to your new business, than unfortunately like many others, you cannot claim this expense.
If it did, there are some other things you will need to know. There are some things that are allowed to be claimed as moving expenses and others that are not.
- Eligible Moving Expenses:
- Transportation Costs & Storage Costs
- Travel Expenses
- Temporary Living Expenses (max of 15 days)
- Cost of Cancelling the Lease
- Incidental Costs (utility hook-ups and disconnections, etc)
- Cost to Maintain Old Home When Vacant (Max of $5000)
Sourced from the CRA